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Product Life Cycle

School of Business Studies

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From the past few decades, PLC concept is so famous and widely use by many business firm and marketing firm. It is a simple and easily understood framework in which the products will past through several stages for a specific time. Appendix 1 shows the sales and time relation in a PLC. PLC often use as a framework to describe and discuss product management and related issue. Hoter (1975) suggested that PLC can be used to determine appropriate business strategies in different stages. Others advocates suggested that the PLC can be applied to more specific marketing problems, such as strategic management planning (Smallwood, 1973), retailing (Davidson et al, 1972), forecasting (Kovac & Dague, 1972). Besides that, PLC is a valuable tool in providing an insight into a common pattern of industry sales that might helpful in ascertaining the expected life of products within the product portfolio. PLC shows the lifestyle of a product which for a time period (Besmish & Ashford, 2007). Thus, marketers can get more information about the lifecycle of the product.

Although PLC is so widely use by many business firm or literature, there are continuing prolong agreement about PLC. There are many critics about the concept, usefulness and limitations of PLC. First, let us discuss the theoretical part. Hunt (1976) argues that PLC is not a model in strict sense of the term but a tautology. It is because PLC uses...