The Product Life Cycle (PLC) is a marketing concept that describes the stages a

product goes through from its introduction to its decline . The four stages of the
PLC are:

1. Introduction: This is the stage where a new product is introduced to the

market. During this stage, sales are low, and the company incurs high
marketing costs to create awareness of the product
2. Growth: In this stage, sales begin to increase as the product gains
acceptance in the market. The company may also expand its distribution
channels and increase production to meet demand .
3. Maturity: During this stage, sales growth slows down, and the product
reaches its peak. The company may also face increased competition, and it
may need to adjust its marketing strategy to maintain sales .
4. Decline: In this stage, sales begin to decline as the product becomes
outdated or replaced by newer products. The company may need to reduce
production and marketing costs to maintain profitability .

The PLC concept is useful for companies to understand the different stages of a
product’s life cycle and to develop appropriate marketing strategies for each stage .
By understanding the PLC, companies can make informed decisions about product
pricing, promotion, and distribution