Product life cycle demonstrates all phases of a product: from market introduction to end-of life. It an important aspect of running a business to have a good understanding of the product life span, and the key actions to be taken to reduce the product cost, improve quality and enhance sales. Product life-cycle is complementary to Product Strategy (C.1.5) and Product Positioning (C.1.4).
- Objectives/Key learning points
- Understand how to develop good Product Life Cycle for a portfolio of products
- Define gaps in the current understanding of the Product Life Cycle
- Teaching Methodology
- Short theoretical introduction followed by examples of good practise
- Implementation Methodology
- Practical implementation by challenging existing Product Life-Cycle and developing an upgraded version (this also connects to challenging existing Product Strategy and Product Positioning).