Definition and stages of the product life cycle:
martes, 7 de diciembre de 2010
Based on the research of different reports, the product life cycle is defined by some authors like: “The product life cycle (PLC) is the result of multiple supply and demand forces.” (Golder & Tellis, 2003) Or “The life cycle refers to the period from the product’s first launch into the market until its final withdrawal and it is split up in phases.” (KOMNINOS, 2002) Also by its use it is defined like “The product life-cycle approach has been used to analyze and forecast level of sales and profits” (Gedikoglu, Parcell, Patterson, & Randal, 2006)
The last paragraph contains some definitions concerning the product life cycle, which can be resumed as the different stages where the product passes through depending its characteristics on the market where it is established; then depending of those characteristics, the profits and losses can be evaluated.
Taking into account what Komninos defined, the product life cycle is divided in some phases, which are: first, introducing the product on the market, second, growth phase, third, product maturity phase, and fourth product obsolescence phase.
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