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Home/Marketing/Why is the product life cycle an important consideration in selecting and developing a marketing strategy? What are the core differences among the PLC stages that force marketers to alter their marketing programs over time? Describe one product for each stage of the PLC and describe how they are handling changes from their previous stage to their current stage.

Why is the product life cycle an important consideration in selecting and developing a marketing strategy? What are the core differences among the PLC stages that force marketers to alter their marketing programs over time? Describe one product for each stage of the PLC and describe how they are handling changes from their previous stage to their current stage.

The product life cycle (PLC) is an essential consideration in selecting and developing a marketing strategy. It provides a whole overview of the production and sale of the said merchandise. There are four stages of the PLC that allow marketers to predict to some extent the success or failure of a product. The four stages are introduction, growth, maturity, and decline. Each of the four stages is different from the rest, allowing marketers to change marketing strategies depending on the stage the product is in at the moment. One core difference between these stages is pricing. During the introduction stage, the product might be relatively expensive. However, this is handled as the product moves to the next stage through price regulation. An example of a product in the introduction stage is the Apple iPhone 8 Plus. The product is very expensive to allow the parent company to recoup some of the costs of production recorded.

On the other hand, Apple iPhone 8 is in the growth stage. Apple has handled the changes from the phone’s previous stage by making it more affordable and available. iPhone 7 is in the maturity stage where most people can afford it, and it is well distributed in the market. The company has handled the changes from the prior stage by making the phone more affordable and distributing it to new markets. On the other hand, iPhone 6 is in its decline stage as fewer people purchase it. The company has, thus, opted to stop manufacturing the phone.

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Academic.Tips. (2022) 'Why is the product life cycle an important consideration in selecting and developing a marketing strategy? What are the core differences among the PLC stages that force marketers to alter their marketing programs over time? Describe one product for each stage of the PLC and describe how they are handling changes from their previous stage to their current stage'. 26 September.

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Academic.Tips. (2022, September 26). Why is the product life cycle an important consideration in selecting and developing a marketing strategy? What are the core differences among the PLC stages that force marketers to alter their marketing programs over time? Describe one product for each stage of the PLC and describe how they are handling changes from their previous stage to their current stage. https://academic.tips/question/why-is-the-product-life-cycle-an-important-consideration-in-selecting-and-developing-a-marketing-strategy-what-are-the-core-differences-among-the-plc-stages-that-force-marketers-to-alter-their-market/

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Academic.Tips. 2022. "Why is the product life cycle an important consideration in selecting and developing a marketing strategy? What are the core differences among the PLC stages that force marketers to alter their marketing programs over time? Describe one product for each stage of the PLC and describe how they are handling changes from their previous stage to their current stage." September 26, 2022. https://academic.tips/question/why-is-the-product-life-cycle-an-important-consideration-in-selecting-and-developing-a-marketing-strategy-what-are-the-core-differences-among-the-plc-stages-that-force-marketers-to-alter-their-market/.

1. Academic.Tips. "Why is the product life cycle an important consideration in selecting and developing a marketing strategy? What are the core differences among the PLC stages that force marketers to alter their marketing programs over time? Describe one product for each stage of the PLC and describe how they are handling changes from their previous stage to their current stage." September 26, 2022. https://academic.tips/question/why-is-the-product-life-cycle-an-important-consideration-in-selecting-and-developing-a-marketing-strategy-what-are-the-core-differences-among-the-plc-stages-that-force-marketers-to-alter-their-market/.


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Academic.Tips. "Why is the product life cycle an important consideration in selecting and developing a marketing strategy? What are the core differences among the PLC stages that force marketers to alter their marketing programs over time? Describe one product for each stage of the PLC and describe how they are handling changes from their previous stage to their current stage." September 26, 2022. https://academic.tips/question/why-is-the-product-life-cycle-an-important-consideration-in-selecting-and-developing-a-marketing-strategy-what-are-the-core-differences-among-the-plc-stages-that-force-marketers-to-alter-their-market/.

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"Why is the product life cycle an important consideration in selecting and developing a marketing strategy? What are the core differences among the PLC stages that force marketers to alter their marketing programs over time? Describe one product for each stage of the PLC and describe how they are handling changes from their previous stage to their current stage." Academic.Tips, 26 Sept. 2022, academic.tips/question/why-is-the-product-life-cycle-an-important-consideration-in-selecting-and-developing-a-marketing-strategy-what-are-the-core-differences-among-the-plc-stages-that-force-marketers-to-alter-their-market/.

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