• Product Life Cycle

  • Dec 10 2024
  • Length: 26 mins
  • Podcast

Product Life Cycle

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  • Summary

  • These hosts explore the Product Life Cycle (PLC) concept, examining its theoretical underpinnings in marketing and diffusion theories, its four typical stages (introduction, growth, maturity, decline), and its application in strategic marketing decisions. The sources analyze the PLC's limitations, including its difficulty in predicting product transitions and its varying shapes across different products and markets. Furthermore, they discuss the evolution of the PLC from a primarily marketing-focused model to an expanded engineering model (E-PLC) encompassing the entire product lifecycle, from design and production to use, maintenance, and end-of-life disposal. Finally, the sources investigate methods for identifying a product's stage within the PLC and for extending product lifecycles.
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