Otto Klepnner developed the concept of product life cycle in 1931, he basically developed a pioneer and proposed that a product goes through 3 phases, pioneering, competitive and retentive. The basic concept of the product life cycle was developed in the 1950s and popularized in the early 1960s. In 1957, Jones put forward a theory that a product life cycle consists of the following characteristics: • Introduction • Growth • Maturity • Saturation • Decline. Currently, the recognized product life cycle terms are • Introduction • Growth • Maturity • Decline WHAT IS THE PRODUCT LIFE CYCLE? The product life cycle is one of the most attractive and central concepts in marketing theory and practice. Today it is one of the most essential elements of a marketing theory. Like humans, products also have their life cycle. The concept of product life cycle is not very new. It has been analyzed and discussed in marketing, management and production. This life cycle explains that all the products that are born on the market over time grow, then mature and finally die. chaotic market, managers always need forecasting tools so basically; The product life cycle allows managers to implement appropriate competitive forces by predicting a product's directions at the macro level. PLC models help determine when it is reasonable to remove dead products. LIMITATIONS Many researchers apply the same PLC model but it is different for different products, some fail after the introductory phase and others... in the middle of the paper... transition from the Introduction phase to the Maturity phase. This is the main problem of the product life cycle. There is no fixed way for a product to go. Therefore, for each product there should be a great deal of research and careful observation throughout its life. If there is no proper research, the product will not go further after its introduction phase. The idea of product life cycle has been around for some time, to make the product profitable and stay in the market it is important that the manufacturer understands the importance of the product life cycle. However, the key to effective manufacturing is to not only understand this life cycle, but also proactively manage products throughout their life cycle, applying the appropriate resources and sales and marketing strategies, depending on the stage at which where the products are located in the cycle.
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