Thus, the concept of product life-cycle facilitates integrated marketing policies relating to product, price, place and promotion/distribution. The advantages of PLC to a firm are as follows: When the product life-cycle is predictable, the management must be cautious in taking advance steps before the decline stage, by adopting product modification, pricing strategies, style, quality, change, etc. The firm can prepare an effective product plan by knowing the product life-cycle of a product.
Medical Definition of Welt. Welt: A red bump, ridge or swelling of unbroken skin raised by a stinging blow or by an allergic reaction to foods, drugs or insect bites, as in hives (urticaria).
Hives are welts on the skin that often itch. These welts can appear on any part of the skin. Hives vary in size from as small as a pen tip to as large as a dinner plate. They may connect to form even larger welts.