product life cycle, PLC, Excel tool, product management, new products
The product life cycle is an important marketing concept, especially for product management and is often a trigger for new product development, as existing product categories head in to the decline stage of the PLC.
Here is a free Excel PLC tool that you can provide to students.
Free PLC Maker Excel Template: plc-template-free-download
Additional Information: Please see instructional video below.
This Excel tool is ideal for simple activities or homework, such as:
- You could provide for students with a list of products and ask them to map them onto the PLC curve.
- You could get them to identify products that fit into the different stages of the product life cycle and create their own graph of products.
- Or you show them the following PLC chart, from the Excel template, and see to what extent that your students agree with the stages that each product categories have been allocated to.
How the PLC Template Works (VIDEO)