Revival of PLC

The following considerations are uppermost:
• Improve product quality
• Add new product features, generating additional benefits.
• Market penetration in new segments.
• Incentives to trade channels, and strengthening and increasing the channel
• Improve advertising/ sales efforts.
In a nutshell, innovation is the answer to revival to PLC. Ultimately however if necessary, a product is eliminated. It is sometimes difficult for he executives associated with the product for a long time to abandon it due to emotional reasons. This is a pit fall to be avoided. The PLC for some products, say consumer electronics items and fashion wear, is very long. Some products like personal computers (PCs) might have reached a maturity stage in the US, but India, they are at the introductory and growth stages. The students should appreciate that the level of advertising effort is related to the stage of PLC of a particular product.