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1 product life cycle
Mktgthe life span of a product from development, through testing, promotion, growth, and maturity, to decline and perhaps regeneration. A new product is first developed and then introduced to the market. Once the introduction is successful, a growth period follows with wider awareness of the product and increasing sales. The product enters maturity when sales stop growing and demand stabilizes. Eventually, sales may decline until the product is finally withdrawn from the market or redeveloped. -
2 life cycle
Gen Mgtthe sales pattern of a product or service over a period of time. Typically, a life cycle falls into four stages: introduction, growth, maturity, and decline. -
3 life-cycle costing
Finthe maintenance of physical asset cost records over the entire asset lives, so that decisions concerning the acquisition, use, or disposal of the assets can be made in a way that achieves the optimum asset usage at the lowest possible cost to the entity. The term may be applied to the profiling of cost over a product’s life, including the pre-production stage ( terotechnology), and to both company and industry life cycles. -
4 brand life cycle
Mktgthe three phases through which brands pass as they are introduced, grow, and then decline. The three stages of the brand life cycle are: the introductory period, during which the brand is developed and is introduced to the market; the growth period, when the brand faces competition from other products of a similar nature; and, finally, the maturity period in which the brand either extends to other products or its image is constantly updated. Without careful brand management, the maturity period can lead to decline and result in the brand being withdrawn. Similar stages can be observed in the product life cycle. -
5 product abandonment
Mktgthe ending of the manufacture and sale of a product. Products are abandoned for many reasons. The market may be saturated or declining, the product may be superseded by another, costs of production may become too high, or a product may simply become unprofitable. Product abandonment usually occurs during the decline phase of the product life cycle. -
6 product development
Mktgthe revitalization of a product through the introduction of a new concept or consumer benefit. Product development is part of the product life cycle. The concepts or benefits that can be implemented range from modification of the product to simply introducing new packaging. -
7 product management
Mktga system for the coordination of all the stages through which a product passes during its life cycle. Product management involves control of a product from its innovation and development to its decline. The process is coordinated by a product manager who focuses on the marketing of the product but may also be responsible for pricing, packaging, branding, research and development, production, distribution, sales targets, and product performance appraisal. This cross-departmental approach is based on the theory that a dedicated product management system will lead to tighter control over the product, and thus higher sales and profits. A brand manager fulfills a similar function to a product manager, concentrating on products within one brand. -
8 obsolescence
Mktgthe decline of products in a market due to the introduction of better competitor products or rapid technology developments. Obsolescence of products can be a planned process, controlled by introducing deliberate minor cosmetic changes to a product every few years to encourage new purchases. It can also be unplanned, however, and in some sectors the pace of technological change is so rapid that the rate of obsolescence is high. This is the case particularly in consumer and industrial electronics, affecting computers, Internetrelated products, telecommunications, and television, audio, and car technology. Obsolescence is part of the product life cycle, and if a product cannot be turned around, it may lead to product abandonment. -
9 planning period
Finthe period for which a plan is prepared and used. It differs according to product or process life cycle. For example, forestry requires a period of many years whereas fashion garments require only a few months.
См. также в других словарях:
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Product life cycle management — is the succession of strategies used by management as a product goes through its product life cycle. The conditions in which a product is sold changes over time and must be managed as it moves through its succession of stages. Product life… … Wikipedia
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Product Life Cycle — The period of time over which an item is developed, brought to market and eventually removed from the market. First, the idea for a product undergoes research and development. If the idea is determined to be feasible and potentially profitable,… … Investment dictionary
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