<P> The functional level relates to departments within the SBUs, such as marketing, finance, HR, production, etc . The functional level would adopt the SBU's strategy and determine how to accomplish the SBU's own objectives in its market . </P> <P> To use the example of the sports goods industry again, the marketing department would draw up marketing plans, strategies and communications to help the SBU achieve its marketing aims . </P> <P> The product life cycle (PLC) is a tool used by marketing managers to gauge the progress of a product, especially relating to sales or revenue accrued over time . The PLC is based on a few key assumptions, including: </P> <Ul> <Li> A given product would possess introduction, growth, maturity, and decline stage </Li> <Li> No product lasts perpetually on the market </Li> <Li> A firm must employ differing strategies, according to where a product is on the PLC </Li> </Ul>

What do you understand by evolution of marketing