Learn how you can use the Product Life Cycle (PLC) marketing model to project changes in the perception and use of your products
The Product Life Cycle describes the stages of a product from launch to being discontinued. It is a strategy tool that helps companies plan for new product development and refine existing products.
What are the stages of the Product Life Cycle?
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New Product Development
The new product development stage occurs before the product's life-cycle begins, consisting of market research leading up to product launch. Hence this stage can include: