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Product Life Cycle and Pricing Strategy in Marketing Management

To understand how each stage in the PLC creates a need for adjustment to marketing strategies and assess what action(s) need to be taken.

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Added on  2023-06-09

About This Document

This presentation analyzes the concept of Product Life Cycle and its importance to Marketing Managers. It also discusses the role of pricing strategy in marketing and explores the four stages of PLC along with their implications. The case study of Apple Inc and its product iPhone SE is also presented.

Product Life Cycle and Pricing Strategy in Marketing Management

To understand how each stage in the PLC creates a need for adjustment to marketing strategies and assess what action(s) need to be taken.

   Added on 2023-06-09

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MARKETING
MANAGEMENT
Product Life Cycle and Pricing Strategy in Marketing Management_1
Theme and Goals of
Presentation
To analyse the concept of Product
Life Cycle and Importance to
Marketing Managers
To analyse the role of pricing
strategy in marketing
To describe the organization along
with offerings of the product or
service
To discuss and analyse the four
stages of PLC along with their
implications along with examples
To understand the reasons for
importance of PLC and the
implications
Product Life Cycle and Pricing Strategy in Marketing Management_2
Concept of PLC
This is the cycle through which every product goes
through from introduction to eventual demise
The different stages in the product life cycle includes
Introduction Stage
Growth Stage
Maturity Stage
Decline Stage (Bednarz et al., 2018)
Product Life Cycle and Pricing Strategy in Marketing Management_3
Importance to Marketing
Managers
Helpful in forecasting the sales
Helpful in control tool
Helpful as the planning tool
Helpful in determination of the price (Chernev, 2018)
Development of the new products in an effective
manner
Product Life Cycle and Pricing Strategy in Marketing Management_4

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