4.2 Suggested Marketing Strategies at each PLC Stage
The PLC offers a useful framework for developing strategy for a product in a timely manner.
It is vital for product managers to evaluate the stages of product‟s life cycle in relation to
planning in the present period as well as for the future. Using the PLC as a tool has a clear advantage of pushing managers to evaluate the future of their industry and their products(Ferrell and Hartline, 2010). After analysing the stages of PLC it can be suggested that, the
automotive industry falls in the maturity stage and Toyota‟s new products fall in the category
of introduction stage with some flavour of maturity stage. The strategies that can be adoptedat each stage of the PLC are as follows