Product Life Cycle (PLC): Purpose
The underlying assumption of the PLC curve is that products have a limited life when consumers desire their benefits, and that they are available for consumption. This curve is intended to help determine the life stage of your products, which in turn determines how much marketing effort is devoted to promoting offtake.
Astute marketers will evaluate the status of their products on the PLC curve when conducting a product portfolio review. A portfolio review is necessary to ensure that the marketing mix is aligned to consumer perception of the product, and with conditions within the market.
Another use for a life-cycle assessment is to anticipate the need for new products to replace ...
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