Product Life Cycle
A model showing the stages a product passes through from development to withdrawal: development, introduction, growth, maturity, decline.
Real World
The Nintendo Switch entered the market in 2017 in the introduction stage with heavy promotion spend and modest margins, moved swiftly through growth as exclusive titles drove demand, and by 2024 is widely considered to be in the maturity stage with Nintendo deploying extension strategies such as new colour variants and bundles.
Exam Focus
When asked to 'recommend' using the PLC, always state which stage the product is in and justify the specific strategy (e.g. extension) that matches that stage.
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