In this essay I will look at the advantages and disadvantages of using a product lifecycle, as well as evaluating the usefulness of such a model to a firm.
The Product Lifecycle is a part of the portfolio analysis, in which a firm can analyse the stages in a products life. It is a model used to aid with decision making in a firm, and part of the marketing planning process. The shape and length of the lifecycle varies with the different products, as each one is unique. The different stages are launch, growth, maturity, saturation and decline.
How useful is the Product Lifecycle?. There are several different uses it holds to a firm. Managers use it because it highlights the need for a firm to change its marketing policies at the different stages of a products life. It then aids them in planning out their marketing strategies.
A firm might draw out a Product Lifecycle to identify the stage at which its product is at in the lifecycle, from there they can decide what to do to keep the......

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Title: Evaluate The Usefulness Of The Product Lifecycle To A Firm
Approximate Word Count: 662
Approximate Pages: 3 (250 words per double-spaced page)

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