Description:

The Product Life Cycle (PLC) is a concept that describes the stages a product goes through from introduction to decline. The key factors influencing the PLC include:

1. Introduction:

   • Initial product launch.
   • High marketing and promotion expenses.
   • Low sales and profit.

2. Growth:

   • Increasing market acceptance.
   • Rising sales and profitability.
   • Competitors entering the market.

3. Maturity:

   • Stable sales and market saturation.
   • Intense competition and price pressure.
   • Focus on cost efficiency and market share retention.

4. Decline:

   • Sales and profits decline.
   • Market saturation or technological advancements.
   • Consideration of product phase-out or revitalization.

These factors help businesses adapt their strategies throughout the product life cycle, addressing challenges and capitalizing on opportunities at each stage.