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Question 4
a. The product life cycle (PLC) is a popular concept in Marketing and Product
Management. Define what the PLC is and draw a diagram showing all of its
elements—draw the PLC with four stages.
The product lifecycle is a graphical illustration and empirical analysis of the lifespan of a
product. It shows the life of a product starting from the introduction of the product up to its
eventual decline. The four stages of the PLC are the introduction, growth, maturity, and decline.
The figure below shows the various stages of a product lifecycle.

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I
– Introduction
II – Growth
III – Maturity
IV – Decline
b. There are a number of criticisms of the PLC—fully describe these.
Sales
Volume
I II III IV
Time

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