The euphoria of the growth
stage slows down to a more steady and sedate pace, which can often offer an
abundance of opportunities, and can also pose some potential threats nike free run 3. Your competition
is likely to be at it's fiercest during this stage, and the level and success of
your marketing will almost certainly prove to be a critical factor in your
product's success.
The Maturity stage is quite similar to human adulthood
nike free run womens. Massive
growth is unlikely, and as long as we accept our age and take care of ourselves,
we can reasonably look forward to a long and healthy future, both for us and our
products.
Increasing the market share during the Maturity stage is
possible, but will probably not prove to be very cost effective Luxe boots. Right now, the product is
more likely to be affected by trends in the market than at any other
time.
Assuming that demand remains healthy, then marketing, promotion,
advertising and visibility are of the utmost importance in order to maintain
rather than increase nike free run
3. New packaging can help to rejuvenate a product during the Maturity stage,
as may new sales methods, or aggressive competition either with the product's
features or price.
The Happy PensionerFinally, the Decline stage in the
Product Life Cycle . The human Golden Years are not the death agonies. In the
same way that most pensioners enjoy many long and happy final years, so too can
your product! Round about this time a common error is to misread short-term
fluctuations, and misinterpret them as the beginning of the Decline stage.
Although the Product Life Cycle is theoretically a smooth and quite elegant
curve, the reality is that there are constant variations that may be down to any
number of external factors. The diagram below demonstrates the point, and shows
a realistic model against the theoretical one.The Decline stage does not mean
that it's time to abandon your product altogether, but that new and appropriate
strategies may be in order. For software, this may mean new versions and
features, adaptation to newer operating systems and hardware, price reductions,
in short, whatever is required to prolong the life of the product.Try applying
the concept of the Product Life Cycle model to your application. You should be
able to implement quite a few new options and strategies once you have
identified the current stage in your product`s life cycle, and in the market
itself. While the Product Life Cycle concept is useful, it is equally important
to consider the external factors, particularly in response to the Decline phase.
My own favourite way of looking at these external factors is the PEST analysis;
Political, Economic, Social and Technological. Take all of this information into
account before applying any form of life cycle based strategies.Applying the
Product Life Cycle to your application will allow you to take a step back from
the day-to-day running of your business, and to see objectively where you are,
and what opportunities and threats lie ahead.