1. Product Life Cycle
Every product undergoes a Product Life Cycle (PLC). Product life cycle consists of four stages, introductory stage, growth stage, maturity stage and decline stage. Each stage has its own characteristics regarding marketing objective, competition, product, price, promotion and place. The ... many competitors, price is set to defend profit and market share. Example of a product in this stage is Coca - Cola. There is no need to introduce this product since it's a daily used one. Over the years of its existence it gained a lot of regular buyers and Coke is being sold practically anywhere, from s...
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