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The product life cycle

The product life cycle (AO2) This section of the syllabus requires students to understand the relationship between the product life cycle, product portfolio, and the marketing mix (AO2). A product is a physical good or intangible service provided by a business to its customers. The product life cycle (PLC) refers to a theory created by American economist Raymond Vernon in 1966. The PLC shows the different stages that...

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