Apparel Product Life Cycle

The name for for a product many times tends to experiment out a predictable sample called product life cycle (PLC). It describes the period of time over which an item is developed, brought to market and ultimately faraway from the market. PLC is a suite of business processes and serving to equipment which lend a hand attire industry to raise the best method they take care of their product advancement. Products undergo a collection of stages starting with start-up or advent of product followed by rapid growth, adulthood or saturation and ultimately the decline of name for. The time spans of stages of those products very largely across industries. These time spans vary from many plenty of weeks or months (for attire and sort goods) to years.

Fig: Product life cycle

Garments or Apparel product life cycle:

Like other products, attire products carries five stages or phases at some degree in complete servicing period. These stages are given below:

Product advancement

Introduction degree

Growth

Maturity

Decline

All product life cycle stages are briefly described below:

1. Product advancement:

Product advancement begins even as the emblem finds and develops a new-product proposal. During product advancement, gross sales are zero, and the companys investment fees mount.

2. Introduction degree:

This degree marks the coming of the product into the market. It may be an all right new product obtainable in the market or vintage product to the new market. The name for is low as merchants do not recognize tons regarding the product. So, the establishment has to speculate heavily in commercial to make the product familiar to the user. The volume of gross sales could be low and if right style care is not taken, the selections of product mess ups replace into high.

3. Growth:

Once the product passes thru the coming degree, the gross sales start increasing ensuing from acceptability of the product by the user. The gross sales growth rate is high ensuing from limited or no rivalry i.e. it follows a pretty development sample.

4. Maturity (Saturation):

The gross sales growth reaches a point above which it will not grow. This is as a remaining result of the market share taken by the pageant products. Thus, the gross sales could be maintained for some period with an honest profit.

5. Decline:

The pageant will input the market with extra desirable product facets, most advantageous iteration and reduced fees. This is a hazard to the existence of the product as the gross sales start declining. If right style steps like addition of amazing facets, design modifications etc. don't seem to be incorporated there comes a time even as the goods are to be taken again from the market.

Table: Characteristics of the phases of PLC

Particulars

Introduction

1. Product selection

High selection

Increasing standardization

Dominant design feature of product

High consistent commodity

Low volume

Increasing volume

High volume

Decreasing volume

3. Industry architecture

Small rivalry

Consolidation

Few substantial businesses

4. Form of rivalry

Product qualities

Product excellent and availability

Price and dependability

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