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प्रश्न
How is the product life cycle advantageous?
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उत्तर
- Effective product planning: Once the product life cycle is known, the company can create an effective product plan and anticipate sales and profitability for each stage.
- Advance steps before decline: Management can take advance measures before the product’s deterioration, such as offering new varieties or discovering new applications.
- Extending maturity stage: The mature stage can be extended by discovering new uses for the product, distinguishing it, or establishing new markets.
- Technological innovation: Technological advances can be used to increase product quality, functionality, and design.
- Marketing decisions: It provides a framework for making smart marketing decisions at each point of the life cycle, with appropriate emphasis on various aspects of the marketing mix.
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संबंधित प्रश्न
Which stage of the product life cycle is marked by falling costs and rising revenues?
In which stage of product life cycle, the company takes decision whether to maintain, harvest or drop the product?
In declining stage of PLC, which tool would be more preferred?
Typically profit is negative in which stage of the product life cycle?
Which stage of the Product Life Cycle is characterised by saturation in the market?
In which stage of the product life cycle, sales continue to grow but at a decreasing rate?
Which feature is pertaining to Introduction stage of PLC?
AB Visions Ltd. want to introduce a new variety of reading glasses where the vision can be adjusted according to the user’s requirement. Explain the first two stages in the life cycle of this product.
You are the Marketing Manager of a fast moving consumer goods (FMCG) company and you find that one of your products, a washing detergent, is in its grown stage. Describe the steps that you would take to increase your sales in this stage.
Mention the various stages of ‘Product Life Cycle’.
