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Product Life Cycle (PLC) is a theory which assumes that all products follow a similar set of characteristics in relation to their pattern of sales. In short, they all go through the same series of stages in their life.
One of the many ways to determine the appropriateness of a theory is to consider how well the theory can be used to explain empirical evidence. However the first disadvantage can be seen; Where is evidence to support the adoption of the PLC?
The second problem is that the PLC simply lacks precisionas it loosely describes the pattern of sales through time.
And the third issue with PLC would be that, in order for it to be a useful model for making decisions, it should have predictive qualities. For example it would be helpful for the firm to predict when the product would reach it's maturity rather realising it AFTER they have reached that stage.
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What are the advantages and disadvantages of the product life cycle theory?
The intended advantage of product life cycle theory is to maximize the profitability of the product. A few disadvantages are that sometimes products can see a revival in sales which the theory does not take into account. In addition, the theory doesn't take into account product redesign potential.
What are advantages and disadvantages of product life cycle?
What are advantages and disadvantages of product life cycle?In: http://wiki.answers.com/Q/FAQ/1866[Edit categories]The product life cycle is all estimated so anything can go wrong as it is all estimated. A product life cycle is not very helpful for future events and it suggets that all products are predictable. It is usually very dificult to attribute a timescale to the PLC and it does not always recognise life cycles are getting shorter.by Yousaf
Product life cycle of dove?
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What is the advantages and disadvantages of the product life cycle?
Advantages of product life cycle include helping companies anticipate market trends, plan for product development, and maximize profitability through strategic marketing strategies. Disadvantages can include the challenge of accurately predicting stages, managing changing consumer demands, and the potential for shorter product life spans in rapidly evolving industries.
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The advantages of the product life cycle concept is that it provides a basic structure that allows you to see where you are, and what lies ahead. R u doing ur ICDM assignment? I may help u..pls contact 0134002000...Mr Lim.
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