In healthcare, simply by monitoring a products or services life cycle, management can better plan when to introduce a new service or product ultimately, seeing healthcare as an industry.
Product life cycle is important because through this company exactly known about each stage of the product that at where stage how many products are available and how much are in process. Product life cycle of 26/08/09 presentation by: 3avick biswas marketing management “ to make cleanliness commonplace, to lessen work for women, to foster health and contribute to personal. Product life cycle (plc) is a portrayal of the life of a product in the market attempting to capture the dynamics of a brand from the perspective of business/commercial costs and sales.
The product life cycle stages are 4 clearly defined phases, each with its own characteristics that mean different things for business that are trying to manage the life cycle of their. Fantastic products – sunsilk products and its product line is known to be good sunsilk has various products in shampoos and matching conditioners each of them serves a different purpose.
There is a chance of missing one or more stage in product life cycle ie one product can be directly shifted from introduction stage to decline market rejects these products and compels to. Product lifecycle of sunsilk the introduction stage — 1964 — sunsilk launches in india, when the hair care industry especially the shampoo market is viable and of potential. For example- hul manufacturer of various hair care products like sunsilk, clinic plus, clear, dove all of these have separate production requirement, have different distribution channel.
Product life cycle generally, there are four stages in a product’s life cycle: i) introduction- the product is introduced, slow sales, no profits at this stage ii) growth- rapid market.
Product development and life-cycle strategies: in the face of changing customer needs, technologies and competition, product innovation or the development of new products has become vital to. The product life cycle is an important concept in marketing it describes the stages a product goes through from when it was first thought of until it finally is removed from the market not.