Post by account_disabled on Feb 19, 2024 1:20:47 GMT -6
They say cats have nine lives. Frankly, the same can be said for successful commercial products! Every product you see in commerce goes through different stages, from the initial idea to the final stages when it becomes obsolete. However, while some products are on the verge of extinction, others become classics. The key to achieving this balance is knowing the product life cycle and managing it strategically. If you have experience in the e-commerce industry, you know that developing a product can take years. This process continues even after the product is released, because constant innovation is required for the product to stand out from others. This situation is no different for physical and digital products .
In this article, we will talk about the stages of the product life cycle, strategy Business & Consumer Email List recommendations for each stage, advantages / disadvantages and influencing factors, and some well-known examples. If you are just starting out in e-commerce, the following articles may interest you. - How is e-commerce done? - Best selling products on the internet What is Product Life Curve (PLC)? The product life cycle (or product life cycle), used as "product life cycle" in English, is the period from the time the product is introduced to consumers until it becomes obsolete in the market. Product life cycle theory was developed by economist Raymond Vernon in the 1960s . Vernon introduced the idea that products have a certain lifespan, which includes a certain period of development and maturation, just like coming of age after childhood and adolescence. Consider the Apple brand.
The first iPhone was released in 2007. Today, approximately one billion users have an iPhone in their pocket. If we try to compare iPhone 1 to iPhone 15, their differences will outweigh their similarities. Even though no one spends their money on the iPhone 1 anymore, everyone is rushing towards the iPhone 15. This is a vivid example of the product life cycle. What are the Lifecycle Stages of a Product? There are generally accepted 4 or 5 stages . However, when we look at it from an e-Commerce perspective, we claim that it consists of 6 stages . When you divide the cycle into 6 different stages, you can easily track which paths the product goes through and create specific strategies for each stage accordingly. Product development Promotion Growth Maturity saturation Drop 1. Product Development Period This is the stage where the product is in the hands of the manufacturer.
In this article, we will talk about the stages of the product life cycle, strategy Business & Consumer Email List recommendations for each stage, advantages / disadvantages and influencing factors, and some well-known examples. If you are just starting out in e-commerce, the following articles may interest you. - How is e-commerce done? - Best selling products on the internet What is Product Life Curve (PLC)? The product life cycle (or product life cycle), used as "product life cycle" in English, is the period from the time the product is introduced to consumers until it becomes obsolete in the market. Product life cycle theory was developed by economist Raymond Vernon in the 1960s . Vernon introduced the idea that products have a certain lifespan, which includes a certain period of development and maturation, just like coming of age after childhood and adolescence. Consider the Apple brand.
The first iPhone was released in 2007. Today, approximately one billion users have an iPhone in their pocket. If we try to compare iPhone 1 to iPhone 15, their differences will outweigh their similarities. Even though no one spends their money on the iPhone 1 anymore, everyone is rushing towards the iPhone 15. This is a vivid example of the product life cycle. What are the Lifecycle Stages of a Product? There are generally accepted 4 or 5 stages . However, when we look at it from an e-Commerce perspective, we claim that it consists of 6 stages . When you divide the cycle into 6 different stages, you can easily track which paths the product goes through and create specific strategies for each stage accordingly. Product development Promotion Growth Maturity saturation Drop 1. Product Development Period This is the stage where the product is in the hands of the manufacturer.