This document discusses the product life cycle, which describes the stages a product goes through from introduction to decline and removal from the market. It begins by comparing the human life cycle to the product life cycle, which involves birth, growth, maturity, decline and death. The product life cycle model is used by marketers to understand what stage a product is currently in and determine the appropriate strategies. The stages are introduction, growth, maturity, and decline, each with different challenges, opportunities, and marketing approaches.

1. P R O D U C T L I F E C Y C L E P repared n presented by PringalSoni, Lecturer Y.I.T Jaipur

2. Product life cycle (PLC) Like human beings, products also have their own life-cycle. 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.

3. To say that a product has a life cycle is to assert four things: 1. That products have a limited life, 2. product sales pass through distinct stages, each posing different challenges, opportunities, and problems to the seller. 3.Profits rise and fall at different stages of product life cycle, 4. products require different marketing, financial, manufacturing, purchasing, and human resource strategies in each life cycle stage.

4. PLC IS A way to trace the stages of a product's acceptance from its introduction to its demise. One of the most familiar concepts in marketing A prevalent marketing management tool Refers to the life of the product category The time a product category spends in a stage of the product life cycle may vary from a few weeks to decades. Does not predict how long a product category will remain in any one stage A tool to help marketers understand where their product is now what may happen which strategies are normally appropriate

7. C. Maturity Stage Sales continue to increase but at a decreasing rate The marketplaceis approaching saturation Annual models of many products An emphasis on product style rather than function Product lines are widened or extended marginal competitors begin dropping out of the market. Heavy promotions to both the dealers and consumers are required. Prices and profits begin to fall.