Newz Baby|News for the Young at Heart
Dec
25
Filed Under (Business :: Management) by admin
Companies that create products are fully aware that ultimately their products have a limited life. A product conventionally goes through stages from birth to death. In marketing and business circles this is known as the product life cycle theory. It shapes how a company formulates its strategy in accordance with the current product stage. This stage is also influence by external forces that affect the market for this product. Marketing managers are required to know this as part of their formal study requirements.
