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"The product life cycle: Analysis and applications issues", Journal of Marketing, vol 45, Autumn 1981, pp 60–67. Levitt, T., "Exploit the product life cycle", Harvard Business Review , vol 43, November–December 1965, pp 81–94.
The Product Life Cycle Theory is an economic theory that was developed by Raymond Vernon in response to the failure of the Heckscher–Ohlin model to explain the observed pattern of international trade. The theory suggests that early in a product's life-cycle all the parts and labor associated with that product come from the area where it was ...
Theodore Levitt (March 1, 1925 – June 28, 2006) was a German-born American economist and a professor at the Harvard Business School. He was editor of the Harvard Business Review , noted for increasing the Review's circulation and popularizing the term globalization .
In marketing, the whole product concept is the third iteration of a model originally developed by Philip Kotler, a professor at the Kellogg School of Management at Northwestern University. In his book entitled “ Marketing Management ” Kotler drew attention to the fact that consumers purchase more than the core product itself.
Marketing myopia is the tendency of businesses to define their market so narrowly as to miss opportunities for growth. It is suggested that businesses will do better in the long-term if they concentrate on improving the utility of a product or good, rather than just trying to sell their products.
Each industry has several life-cycle models to consider, but most are relatively similar. Below is one possible life-cycle model; while it emphasizes hardware-oriented products, similar phases would describe any form of product or service, including non-technical or software-based products: [16]
all walks of life, have a sense that something overwhelming has been going on.But they have lacked a primer to brief them on these themes and put the pieces together, so it is hard for them to know how urgent the situation is, let alone what they need to do. Americans expect to have freedom around us just as we expect
Theodore Levitt, in his classic 1960 article in HBR, argued strongly for avoiding the myopia of narrow, product-oriented industry definition. Numerous other authorities have also stressed the need to look beyond product to function in defining a business, beyond national boundaries to potential international competition, and beyond the ranks of ...