Variations of Product Life Cycle (PLC)

A Standard Product Life Cycle

A Standard Product Life Cycle curve is typically divided into 4 stages. Before discussing the variations of product life cycle, lets have a look at the standard stages.

• Introduction:
  • Product introduced in market.
  • Slow sales growth.
  • No profits as expenses are high.
• Growth: 
  • Period of rapid market acceptance.
  • Profit increases.
• Maturity:
  • Sales growth slows down.
  • Profits stability then decline to fight competition.
• Decline:
  • Sales decreases
  • Profits decreases

Variations of Product Life Cycle

• There may exist many PLC patterns in addition to standard PLC. Some common variants are as stated below:

(1) Growth/Slump/Maturity Pattern:

• Sales grow, and then fall to petrified level. Refer to the image above marked as (1).
• Generally, these products have a long durability.
• Example: Small kitchen appliances (Spoons), Cease fire.

(2) Cycle-Recycle Pattern:

• Sales grow, then decreases. Refer to the image above marked as (2).
• Company gives another promotion push for another smaller growths.
• Example: Pharmaceuticals.

(3) Scalloped Pattern:

• Sales pass through a series of PLC’s due to discovery of new uses/characteristics. Refer to the image above marked as (3).
• Example: Nylon.

Variations of Product Life Cycle: Special Cases

• Three special categories of PLC need to be distinguished.
• PLC’s pertaining to Style/Fashion/Fad.

Style:

• Style is a basic/distinctive mode of expression appearing in a field of human endeavors.
• Once a style is invented, it can last for generations, at times going in/ going out.
• Example: Styles in Home, Clothes.

Fashion:

• Fashion is a currently accepted/popular style in a given field.

• Example: Clothes: Jeans. Music: Hindi-Pop.

• Fashion Pass through four Stages:
  • Distinctiveness Stage:
    • Same customer take interest in something new that sets them apart.
  • Emulation Stage:
    • Other customers take an interest out of desire to emulate fashion leaders.
  • Mass-Fashion Stage:
    • Fashion becomes very popular & manufacturing gear up for mass production.
  • Decline:
    • Consumer starts moving towards other fashion.

Fad:

• Fads are fashion that comes quickly into the public eye, are adopted with great zeal, peak easily and decline fast.
• Acceptance cycle is short.
• Fads tend to have limited followings
• Example: Body Piercing, Tattooing, Pepsi Blue.