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Product life-cycle management (marketing) Succession of strategies by business management as a product goes through its life-cycle. A model for the product sales lifecycle, with the assumption of four major phases: introduction, growth, maturity, and decline. Curve of sales as a function of the time of the product on the market.
A generic lifecycle of products. In industry, product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from its inception through the engineering, design and manufacture, as well as the service and disposal of manufactured products. [ 1 ][ 2 ] PLM integrates people, data, processes, and business systems ...
Product life-cycle theory. 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 ...
Crossing the Chasm: Marketing and Selling High-Tech Products to Mainstream Customers or simply Crossing the Chasm (1991, revised 1999 and 2014), is a marketing book by Geoffrey A. Moore that examines the market dynamics faced by innovative new products, with a particular focus on the "chasm" or adoption gap that lies between early and mainstream markets.
Kano model. The Kano model is a theory for product development and customer satisfaction developed in the 1980s by Noriaki Kano. This model provides a framework for understanding how different features of a product or service impact customer satisfaction, allowing organizations to prioritize development efforts effectively.
Life cycle inventory (LCI) analysis involves creating an inventory of flows from and to nature (ecosphere) for a product system. [32] It is the process of quantifying raw material and energy requirements, atmospheric emissions, land emissions, water emissions, resource uses, and other releases over the life cycle of a product or process. [33]
The product life cycle concept consist of 4 stages: introduction, growth, maturity, obsolescence. [11] It outlines the stages the product was first introduced into the market until it is finally removed from the market. The length of the life cycle, duration of each stage and the shape of the curve vary widely for different products.
The Hayes-Wheelwright matrix is a four-stage model; each stage is characterized by the management strategy implemented to exploit the manufacturing potential. In stage 1, the production process is flexible and high cost, and becomes increasingly standardize, mechanized, and automated, resulting in an inflexible and cost-efficient process.