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).
Webster Dictionary(0.00 / 0 votes)Rate this definition: Pelt(noun) the skin of a beast with the hair on; a raw or undressed hide; a skin preserved with the hairy or woolly covering on it.