The product life cycle is a concept that describes the stages a product goes through from its creation to its decline. It begins with the introduction phase, where the product is launched and promoted. Next is the growth phase, where sales increase rapidly as the product gains market acceptance. The maturity phase follows, marked by peak sales and intense competition.
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Product Life Cycle PPT: Meaning, Parts, Examples
Finally, the product enters the decline phase, where sales drop due to market saturation or newer alternatives. Understanding the product life cycle helps businesses plan strategies for marketing, pricing, and product development to maximize a product’s success and longevity.
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Table of Content for Product Life Cycle PPT
- Definition
- Demand for Products
- Parts of Product life cycle
- Product life cycle strategies
- Example of Product Life-Cycle
- Conclusion
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