EVALUATION OF APPROACHES USING THE PRODUCT LIFECYCLE

Abstract

Aim of this paper is to present and discuss approaches that use the product life cycle (PLC) and their application to corporate marketing. Product life cycle describes how the product grows over time. Theory of literature identifies various stages as follows: introduction, growth, maturity, decline. Throughout these stages, companies have different costs, profits, pricing strategy, marketing goal or number of customers or different rivalry competition. The main objective of this paper is to map the PLC effect on business activity and the consequent impact of these influences on corporate marketing across all stages of the PLC. The importance of product lifecycle management (Product Lifecycle Management, PLM) is increasing, especially for companies in manufacturing, high technology, telecommunications and industry. Today, industrial production because PLM is becoming an essential tool for coping with the challenges of global competition and demanding constant shortening product life cycles.

DOI: http://dx.doi.org/10.5755/j01.em.17.4.3017