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The Product Life Cycle
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, ...

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