Product Life Cycle
PLC
Vocab
100
low profits, low sales
What is product development
100
a basic and distinctive mode of expression
What is style
100
Incentives to buy products
What is promotion
200
low profit, low sales
What is introduction
200
a currently accepted of popular style in a given field
What is fashion
200
Finding a new use for a product or extending the brand to a new product category
What is Product Extension
300
Increase profit and sales
What is growth
300
a temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity
What is fad
300
Where customer goes to buy the product
What is Distribution
400
high profit/high sales
What is maturity
400
Build product awareness among early adopters and dealers
What is advertising
500
decrease sales/decrease profit
What is Decline
500
Usually on the high side if unique in the growth stage
What is Price
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