The alarming rate of new product failures in recent
times heightens the demand for careful and thorough
understanding of the characteristics, shapes and forms products take as they transit in their life cycles. Several studies in the marketing literature have examined the product life cycle (PLC) concept, but most
of these studies have shown conflicting and inconclusive associations between the PLC and the marketing strategy. This paper examines the PLC specifically from the strategy perspective within the fast moving consumer goods (FMCG) sector and explores the various marketing strategies employed by firms in the effective and efficient management of products. An in-depth review of extant literature is adopted to develop a conceptual framework by exploring the various marketing mix variables, product attributes, product behaviours on the different PLC stages and factors determining these behaviours.The paper examines the PLC within the broader scope of the FMCG and offers suggestions on areas for further research so as to adequately enhance firm managements’ understanding regarding the impact of the PLC on the strategy decision–making and implementation for organisational success.