Explore tens of thousands of sets crafted by our community.
Product Lifecycle Management
5
Flashcards
0/5
Growth Stage
Activities include scaling production, enhancing product features, and expanding distribution channels. Considerations involve analyzing customer feedback, responding to competition, and managing rapid revenue growth.
Product Development
Activities include conducting market research, developing prototypes, and performing product testing. Considerations involve assessing technical feasibility, financial projections, and intellectual property protection.
Introduction Stage
Activities include product launches, initial marketing efforts, and careful monitoring of product performance. Considerations involve targeting early adopters, managing supply chains, and preparing for possible high production costs.
Decline Stage
Activities include identifying declining sales trends, making decisions on product discontinuation, or rejuvenating products through innovation. Considerations involve cost reduction strategies, inventory management, and exploring new markets or product variations.
Maturity Stage
Activities include optimizing the product range, focusing on brand loyalty, and finding ways to differentiate from competitors. Considerations involve streamlining operations, investing in marketing, and considering product line extensions.
© Hypatia.Tech. 2024 All rights reserved.