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Product Life Cycles as applied to Marine companies: Competit

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How does the concept of product life cycles apply to marine companies? Marine companies that earn their profits by selling top of the line boats.

What type of strategies should they use to stay competitive?

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Solution Summary

This solution discusses product life cycles as they pertain to a marine company selling high end boats.

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Marine products, like every other product undergo a Product Life Cycle (PLC). PLC consists of four stages, introductory stage where costs are high and sales are slow, growth, where things start to pick up, maturity , where it peaks, and decline, where it dies. Since you have been ...

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