Discuss the concept of Product Life Cycle. Elaborate the various stages by taking the example of a shaving cream brand of your choice. What alternatives will you suggest for the brand during its decline stage and why? Offer your reasons.

                                                                                                                                                      

MBA

Marketing Management

ASSIGNMENT

 

Course Code: MMPC-006

Assignment Code: MMPC-006/TMA/JULY/2022 

Coverage : All Blocks

(b) Discuss the concept of Product Life Cycle. Elaborate the various stages by taking the example of a shaving cream brand of your choice. What alternatives will you suggest for the brand during its decline stage and why? Offer your reasons.

Product life cycle (PLC) is a marketing concept that describes the stages a product goes through from its introduction to the market until its decline. The four stages of PLC are introduction, growth, maturity, and decline. Introduction Stage: The introduction stage is the first stage of the PLC, where a new product is introduced to the market. 

During this stage, the product is not well known, and the sales are low. The company needs to focus on creating awareness about the product and educating the customers about its features and benefits.

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