Terminology
![Product Life Cycle: Definition, Stages Explained [Examples]](https://i0.wp.com/retailboss.co/wp-content/uploads/2023/03/img_2074.jpg?resize=740%2C600&ssl=1 "Product Life Cycle: Definition, Stages Explained [Examples]")
The Product Life Cycle (PLC) is a vital concept in marketing and business management that evaluates a product’s journey from its development to its withdrawal from the market.
Reference prices play a crucial role in the decision-making process of consumers and businesses alike. They serve as a benchmark for comparing the value of products and services in the market, helping buyers determine whether a particular price is reasonable or not.
Consumer adoption categories play a crucial role in understanding how different segments of the market respond to new products or innovations.
Designer brands are increasingly opting for brand extensions instead of creating new private label brands due to several advantages that come with leveraging their existing brand equity.
Deinfluencing, a term that refers to the diminishing impact of influencers on social media, has become a topic of discussion as the landscape of social media evolves.