Season/Course 3: Product & Services

Chapter 7: Product Life Cycle (PLC)

Abstract 2What is the Introduction stage in PLC? This product life cycle stage involves developing a market strategy, usually through investment in advertising and marketing to make consumers aware of the product and its benefits. This stage can take time to move through, depending on the complexity of the product, how new and innovative it is, how it suits customer needs, and whether there is any competition in the marketplace. Let's understand this marketing concept in more detail in this episode.

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