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Introduction- Theme and Goals.

Added on - 22 Sep 2019

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Introduction- Theme and GoalsIntroduction to Product Life Cycle (PLC)Importance of PLC to marketing managersImplication if PLC remains unmonitoredIllustration of the product life cycle of ExxonMobilProduct Life Cycle –Concept and ImportanceProduct Life Cycle- Describes the stages of product production to saleThe Five Main Stages (Hedberg Jr et al, 2017)(i)Introduction(ii)Growth Stage(iii)Maturity Stage(iv)Saturation Stage(v)Decline StageIt is a Forecasting ToolHelps in preparing product plan (Stark, 2015).Helps management to adopt latest technological changeImprove the product quality, features and design.
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