1.The product life cycle, or PLC, is a widely-used framework in marketing.

(a.)In the first part of this question, list and discuss, in detail, the various stages (i.e., what "happens" to each of the 4-P's, and competition, in each of the stages) of the PLC (note:you should use headings and subheadings, relating to each of the stages of the PLC and also within each stage in terms of what is happening to each of the 4-P's and competition, in answering this part of the question).

(b.)In the second part of this question, also discuss (in a general sense) how the PLC can be used by marketers, and what are some of the major criticisms of the PLC as a strategic planning tool ?Additionally, discuss how the terms, "market pioneer", "PLC extensions", and "brand equity" relate to the PLC ?