The demand for a product generally tends to follow a predictable pattern called the PLC
CASE STUDY (20 Marks)
The demand for a product generally tends to follow a predictable pattern called the PLC. Product life cycle has been defined as an attempt to recognise different distinct stages in the sales history of the product and a generalised model of sales and profit trends for a product class or category over a period of time” The various stages are introduction, growth, maturity saturation and decline.
Answer the following question.
Q1. Draw the graph of PLC
Q2. In your view, place a product through PLC
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