Life Cycle Analysis
All products follow a curve called the life cycle, common for all these are that they have a beginning and an end. What differ products from each other is their position on the curve, and how long the different phases and the total curves are. If you take fashion clothes you are normally discussing a season and at least not more than a year. Industrial gas cylinders on the other hand have survived a century with very small alterations.
A product life cycle has 6 phases:
- Product development
- Introduction
- Growth
- Maturity
- Decline
- Liquidation
To know what phase, and where in the phase, the different products are, is crucial for success. This has an impact on almost everything, such as market strategy, marketing, pricing and distribution channels.
Fact 21
We would be glad to help you with product life cycle analysis to find the position and phase your products are and if this is in harmony with your offer to the market. Based on the analysis result we can assist you in creating, and carrying through an action and implementation plan. Contact us to find out more on how we can help you: info@fact21.se.
