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).
When welts are a sign of a medical problem, they are usually accompanied by other symptoms which provide clues to the problem. Physical trauma such as a blow can cause a welt, and welts can also be caused by allergic reactions, infections, injections, insect bites, and skin reactions, in very sensitive people. For example, in people with dermographism, even a gentle touch to the skin can cause a welt to emerge.