PLC or Product Life Cycle

PLC or Product Life Cycle refers to traditional stages in which a product / services are integrated into market. Those traditional stages include: introduction, growth, maturity, and decline. PLC in general illustrates a traditional theory which may not hold for long because of the change in business environment: considering the current trend in globalization and the ever changing dynamic market, it is a logical assumption that those traditional theories may be in decline. Consider the following: in a business environment where internet technology dominates other vehicles of advertising and marketing, it is hard to quantify cycles that are either overlapping or non existence. For instance, eCommerce dictates a dynamic approach in which products are introduced and experience rapid growth and maturity within a very short period of time. Further, the overlapping of introduction and maturity makes it even harder to distinguish cycles.Personally, I believe that PLC theory is one of those propositions that may hold theoretical values, yet not adaptable to the flexible and ever changing business environment; especially in terms of small business.

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