PRODUCT LIFE CYCLEStudents nameInstitutionDateTHEME AND THE GOALS OF THEPRESENTATION To shed light on the concept of product lifecycle and its components. To understand how managers can use the PLC in the process of developingtheir products. To develop the necessary awareness on the importance of PLC on thebusiness practice. To critically examine each phase and understand different componentwhich they are presented by the end of the process.PLC CONCEPT For the success of any business, the term product lifecycle must be real andtaken with the magnitude it requires. With this PLC defines the different phases in which the business undergoes inthe process of development (Kubler et al. 2015). It explains the models which the business should keep to succeed. Each phase has unique features which must be understood in the businessconformity. It is the duty of managers to utilize this concept for the success of theorganization.IMPORTANCE OF PLC TOMARKETING MANAGERS It reduces the time spends to market due to under running the market. Reduces the market entry costs Makes the development of an efficient and profitable distribution channelbecome an easy process (Ferreira, et al. 2017). Higher returns are realized on the investment from the promotionalcampaigns. It ensures an extended lifetime of the products by adapting the manager'sapproach throughout the cycle. Ensures an orderly and profitable end ...
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