Product life-cycle management (marketing)

Jun 18th, 2015
Studypool Tutor
Alabama State University
Price: $25 USD

Tutor description

This article is about the commercial term to describe the life of a product in the market. For the engineering term, see Product lifecycle management. Product life-cycle management (or PLCM) is the succession of strategies used by business management as a product goes through its life-cycle. The conditions in which a product is sold (advertising, saturation) changes over time and must be managed as it moves through its succession of stages. Product life-cycle (PLC) Like human beings, products also have an arc. From birth to death, human beings pass through various stages e.g. birth, growth, maturity, decline and death. A similar life-cycle is seen in the case of products. The product life cycle goes through multiple phases, involves many professional disciplines, and requires many skills, tools and processes. Product life cycle (PLC) has to do with the life of a product in the market with respect to business/commercial costs and sales measures. To say that a product has a life cycle is t

Word Count: 8613
Showing Page: 1/49
Product life-cycle management (marketing)From Wikipedia, the free encyclopediaThis article is about the commercial term to describe the life of a product in the market. For the engineeringterm, see Product lifecycle management.Product life-cycle management (or PLCM) is the succession of strategies used by business management asa product goes through its life-cycle. The conditions in which a product is sold (advertising, saturation) changesover time and must be managed as it moves through its succession of stages.Product life-cycle (PLC) Like human beings, products also have an arc. From birth to death, human beingspass through various stages e.g. birth, growth, maturity, decline and death. A similar life-cycle is seen in thecase of products. The product life cycle goes through multiple phases, involves many professional disciplines,and requires many skills, tools and processes. Product life cycle (PLC) has to do with the life of a product in themarket with respect to business/commercial costs and sales measures. To say that a product has a life cycle isto assert three things:Products have a limited life,Product sales pass through distinct stages, each posing different challenges, opportunities, andproblems to the seller,Products require different marketing, financing, manufacturing, purchasing, and human resourcestrategies in each life cycle stage.The four main stages of a product's life cycle and the accompanying characteristics are:Sta

Review from student

Studypool Student
" Excellent work as usual "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1820 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors