- Subject index
The Sage Course Companion on Marketing is an accessible introduction to the subject that will help readers to extend their understanding of key concepts and enhance their thinking skills in line with course requirements. It provides support on how to revise for exams and prepare for and write assessed pieces. Readers are encouraged not only to think like a marketer but also to think about the subject critically. It is much more than a revision guide for undergraduates; it is an essential tool that will help readers take their course understanding to new levels and help them achieve success in their undergraduate course.
The Product Life Cycle
A key concept in product portfolio management is the product life cycle (PLC) (see Figure 2.3). The PLC is based on the assumption that products move through a series of stages from their introduction, passing through a growth stage, followed by a maturity phase in which sales remain stable, through to a decline phase and final withdrawal from the market. Products tend to lose money when they are first introduced: sales are low, marketing costs are high and there no economies of scale in production. Eventually, if the product follows the PLC, ...