Product life cycle research a literature review pdf

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We use cookies to enhance our website for you. Proceed if you agree to this policy or learn more about it. Type of paper: Essay. The life cycle of a product is divided into four stage based on the revenue generated by the product or service. The life cycle concept may apply to a category of product or brand with varying duration for different products or brand. The stages that a product goes during the product life cycle include introduction stage, growth stage, maturity stage, and decline stage.

METHODS OF PRODUCTIVITY IMPROVEMENT: A LITERATURE REVIEW

Product life cycle - Product - Higher Business management Revision - BBC Bitesize

Written by Rowan T. Many organisations are now adopting a process of lifecycle management in an effort to maximise the longevity and thus profitability from their products. This process refers to the management of a product through all stages from inception, primary sales period and decline, and can be a lengthy process, particularly in industries where the early stages of research and development are long Stark, This is particularly important when the research and development of a project is a lengthy process, and subject to stringent regulations, such as in the pharmaceutical industry. The challenge for the industry is that in terms of the overall lifecycle of pharmaceutical products, commencing at the research stage, the time frame for actually selling the product, and thus earning a profit and return on investment is small in comparison to the overall lifecycle. Indeed, recent reports from PR News Wire, also cite increasing pressure on branded pharmaceutical companies which makes the need for understanding lifecycle management strategies even more important. This is due in part to pressure on pricing and enhanced cost of research which, when combined with the stringent regulations in the industry means that when a patent expires, sales will drop as generic products enter the market, increasing competition.

Defining Product Lifecycle Management: A Journey across Features, Definitions, and Concepts

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