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change during PLC. 3. In your own words, explain this premise of PLC: ‘all products have a limited lifespan until a better solution to the customer’s problems comes along’.

change during PLC. 3. In your own words, explain this premise of PLC: ‘all products have a limited lifespan until a better solution to the customer’s problems comes along’.

Principles Of Marketing
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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1. Explain how changed in the economic environments affect marketing decisions. 2. Describe the stages of the product life cycle (PLC) and how marketing strategies change during PLC. 3. In your own words, explain this premise of PLC: ‘all products have a limited lifespan until a better solution to the customer’s problems comes along’. 4. Think of an existing product in the market and evaluate it based on the five forces model of industry competition. 
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