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The concept of a product that undergoes various changes throughout its total life is known as the product life cycle (PLC). This cycle typically includes several stages: introduction, growth, maturity, and decline. Each stage is characterized by different levels of market demand, competition, and product development. Understanding the PLC helps businesses strategize marketing, production, and pricing to maximize a product's profitability over time.

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What is the different between old marketing concept and new marketing concept?

old marketing concept started after production and ended as soon as the product was delivered to the customer. It confined to trading activities only i.e. buying and selling. earlier the marketer focused on quality of product and assumed that if the product was of good quality it will definitely be sold. whereras modern marketing concept starts prior to production process and continues even after product's delivery. it includes various activities like market analysys, after sales services etc. it aims at providing total satisfaction to consumers.


What is the term used to describe all the activities which go into marketing a product?

The term used to describe all the activities involved in marketing a product is "marketing mix." This concept encompasses various elements, commonly referred to as the 4 Ps: product, price, place, and promotion. These components work together to effectively position a product in the market and reach the target audience.


What is the relationship between branding and marketing?

Branding is to give a product its identity where as marketing is the technique which helps the product reach its end user through various marketing techniques like promotion, advertising etc. etc.


What is the amount of product or service that people want called?

The amount of product or service that people want is called "demand." Demand reflects consumers' desire and willingness to purchase a good or service at various price levels. It is a key concept in economics that helps to determine market equilibrium and influences pricing strategies.


How is add gel pens product life cycle?

Product life cycle management (or PLCM) is the succession of strategies used by business management as a product goes through its life cycle. The conditions in which a product is sold (advertising, saturation) changes over time and must be managed as it moves through its succession of stages.Product life cycle (PLC) Like human beings, products also have a life-cycle. From birth to death, human beings pass through various stages e.g. birth, growth, maturity, decline and death. A similar life-cycle is seen in the case of products. The product life cycle goes through multiple phases, involves many professional disciplines, and requires many skills, tools and processes. Product life cycle (PLC) has to do with the life of a product in the market with respect to business/commercial costs and sales measures. To say that a product has a life cycle is to assert three things:Products have a limited life,Product sales pass through distinct stages, each posing different challenges, opportunities, and problems to the seller,Products require different marketing, financing, manufacturing, purchasing, and human resource strategies in each life cycle stage.

Related Questions

What is the different between old marketing concept and new marketing concept?

old marketing concept started after production and ended as soon as the product was delivered to the customer. It confined to trading activities only i.e. buying and selling. earlier the marketer focused on quality of product and assumed that if the product was of good quality it will definitely be sold. whereras modern marketing concept starts prior to production process and continues even after product's delivery. it includes various activities like market analysys, after sales services etc. it aims at providing total satisfaction to consumers.


How many times does a person's self-concept change?

A person's self-concept changes over the years in various ways. As a person gets exposure and knowledge on various subjects in life, this transforms their attitude and develops a different self-concept.


What is eco balance and the various types?

Eco-balance is the consumption of energy and resources and the pollution caused by the product cycle of a given product. The product is followed through its entire lifecycle, from extraction of raw materials, manufacturing and use, right through to recycling and final handling of waste.


Does information have mass?

No, information does not have mass. It is a concept or data that can be stored and transmitted through various mediums, but it does not have physical weight like a tangible object.


What describes how one quantity changes in relation to another?

The concept you are describing is called "rate of change," which measures how one quantity changes over time or relative to another quantity. It can be calculated using various mathematical formulas, such as slopes or derivatives.


What is indirect evolution?

Indirect evolution refers to the process by which evolutionary changes occur not through direct adaptations to environmental pressures, but rather through intermediary steps or mechanisms that facilitate changes over time. This can include genetic drift, gene flow, or the influence of other species, such as through co-evolution. As a result, traits may evolve in a population not solely due to direct selection but through complex interactions and shifting dynamics within ecosystems. This concept highlights the multifaceted nature of evolution and the various pathways through which species can change.


What does the product of something in maths?

In mathematics, the product of two or more numbers is the result of multiplying them together. For example, the product of 3 and 4 is 12, as 3 multiplied by 4 equals 12. The concept of product extends to variables and can be represented in various forms, including algebraic expressions. Additionally, the product can be generalized to include more than two numbers, such as multiplying a series of factors together.


What is the flagship product of Gold Mobile?

GoMo Wallet is the flagship product of Gold Mobile. It is used to accept and make payments which one can do through their mobile cell phone with various companies.


Is the sun reactant or a product?

Sun is a star, not reactant or product.


What is the term used to describe all the activities which go into marketing a product?

The term used to describe all the activities involved in marketing a product is "marketing mix." This concept encompasses various elements, commonly referred to as the 4 Ps: product, price, place, and promotion. These components work together to effectively position a product in the market and reach the target audience.


How do various religious texts address the concept of seasons changing and the passage of time through verses about the changing of seasons?

Various religious texts address the concept of seasons changing and the passage of time through verses that reflect the cyclical nature of the seasons and the idea of renewal and rebirth. These verses often emphasize the importance of embracing change and finding meaning in the natural rhythms of the world.


What is the official website for Integrated Device Technology?

The official website for Integrated Device Technology would be at the IDT homepage. The website features various information on the concept as well as a way to buy and sample the product.