Essay - Product Lifecycle Applying the Concepts of Product Life Cycle to...

Product Lifecycle

Applying the Concepts of Product Life Cycle to a Network Component

The concept of ***** product life cycle defines the series of phases a ***** goes through from new product development, introduction or l*****unch, growth, maturation and eventual discontinuance or product line extension to fur*****r supp*****t a company's brand. The new product development process (NPD) ********** takes between two or five years ***** more depending on the complexity, synchronization of development efforts with suppliers, and the need for entirely new technologies ***** be developed to support the ***** product. In the case ***** an entire new network component being developed, there are typically between 18 to 30 months invested in the development cycle, with the product ***** be*****g pl*****ned at least four months or longer be*****e the actual launch d*****e. It is also during the first phase of products being *****veloped that the need ***** greatest f***** ensuring the product is developed ***** the unmet *****s of cus*****mers foremost in m*****d followed by a continual evaluation of its cost structures and potential pricing scenarios at launch (Burkett, 2006). During this first phase of a *****'s lifecycle it is common for adv*****ory councils, focus groups, and market research to ensure the product under development stays aligned with users' needs. ***** product launch or introduction is often ***** most lucrative point in many ********** hist*****y, and as a result, m*****ny organizations create project teams and ********** heavily in the launch event and programs. Mak*****g the most of the differentiation available in an entirely ***** product, in addition to introducing an entirely new product generation will lead ***** ***** markets ********** is the strategic objective. The growth ***** of the product ***** concentrates on getting sales to increase, increasing trial and use ***** the specific network *****, working ***** distributors and dealers to more illustrate the performance advantages, and also concentrate on the opportunities for earning gross margins through ***** channels of distribution as well. The maturation ***** is one where the products ***** typically competed against based on price, ***** ***** is certainly the ***** with network components. In the case of routers and switches, ***** basic functionality is evaluated first by customers to make sure the ***** product will meet their needs, yet price and availability are what ***** win sales in this phase ***** the product lifecycle. Finally, the harvesting or ***** line extension phase is when a comp*****ny will either choose to discontinue the product, or extend ***** brand ***** adding additional features or bundling services with it. The ***** lifecycle is a useful concept ***** ev*****luating the strategies a product needs over the period of time it is for sale.

Bibliography

Burkett, M (*****) Use Suppliers at All Phases of NPDI to Improve Product

Launch. AMR Research Alert. May 10, 2006. Accessed from the ***** Research website on December 11,