What you get with this tool:
- Take the best decisions about your products
- Form your marketing strategy according to the PLC stages
- Get a personalized report regarding your product's life cycle
Every product has its own lifecycle. A product is born, develops, grows old and in due course will die. The concept of Product Life Cycle (PLC) highlights that sooner or later all products die and that if an entrepreneur wishes to sustain its revenues, he must replace the declining products with new ones. Furthermore, an entrepreneur should know how his/her product is doing in the market so that he can come up with innovative strategies.
The Product Life Cycle Stage questionnaire will help you to characterize the main marketing challenges in each stage of a product’s life cycle and to develop major alternative marketing strategies. As a control tool, this concept will help you measure product performance against similar products launched in the past. Thus, you will be able to control and design your marketing decisions based on yours product stage.