Published by:
Harvard Business Publishing
Length: 10 pages
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Abstract
Although the product life cycle (PLC) concept has been the mainstay of marketing strategy for many years, its accuracy and empirical basis are both questionable. In many cases, products do not develop along the traditional stages. The possible variations are so unpredictable that the most effective system employs unique information systems for each product. Product class, product form, and brand are the three stages of PLC, however, the model has little validity for brand life cycles. An effective model predicts sales drops and rises, and it serves as an indicator of the short-term success of strategy. Market-communication models greatly improve product life code models because they quantitatively measure the influences on sales, evaluate different opinions, and provide advance warning signals.
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Abstract
Although the product life cycle (PLC) concept has been the mainstay of marketing strategy for many years, its accuracy and empirical basis are both questionable. In many cases, products do not develop along the traditional stages. The possible variations are so unpredictable that the most effective system employs unique information systems for each product. Product class, product form, and brand are the three stages of PLC, however, the model has little validity for brand life cycles. An effective model predicts sales drops and rises, and it serves as an indicator of the short-term success of strategy. Market-communication models greatly improve product life code models because they quantitatively measure the influences on sales, evaluate different opinions, and provide advance warning signals.