Abstract
Product life cycle (PLC) is categorization of a product in various phases of its life cycle. Starting from its introduction, to growth, maturity, and eventually decline stage (Wood, 1990). This article investigates the key internal contributors for each stage of the PLC, their level of importance as well as the relevant strategies that should be used at each stage of PLC. For purpose of this research article, detailed interviews have been conducted with corporate managers of consumer goods companies in Pakistan (Billah, 2012). The findings of this study shall help managers to understand the reasons for performance or non performance of their products brands in the consumer market and will serve as a useful guideline on how to improve the success of their products and sustain growth in market for a longer period of time. From research end, this study shall open opportunities for scholars and academicians to conduct further research studies in this area. Summary statement of contribution: In Pakistan, till date no study has been conducted on product performance in various stages of PLC. This research presents a practical implementation of PLC concept in Pakistan and presents a guideline to business decision makers regarding which strategies to use at various stages of PLC.
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