Make the PLC: A Free Excel Template

The product life cycle template for Excel – available for free downloadOften students want to graph multiple products onto the product life cycle using an Excel spreadsheet or some other charting approach. Perhaps surprisingly, this is sometimes awkward to produce easily, given the focus on the Excel spreadsheet to produce graphs rather than images.Therefore, in

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Marketing strategy approaches for each stage of the PLC

Marketing mix strategies during the introduction stageOffer a basic product with limited choices, as this also helps test the overall market demand/interest, while keeping costs and logistic challenges relatively lowUse marketing communications (IMC/promotion) that are effective in generating initial awareness and reaching innovators. Often specialist websites/blogs and magazines provide a specific audience, as well as

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Consumer Adoption Categories

This website has discussed consumer innovators numerous times, due to their importance in generating product adoption and kick-starting the introduction phase of the product life cycle. While innovators are the initial type of consumer, there are other consumer mindsets that are typically discussed in marketing textbooks.The standard consumer adoption categories include:InnovatorsEarly adoptersEarly majorityLate majorityLaggardsTypically these

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