Recognizing opportunities - Industry analysis - Products and technology
7 important questions on Recognizing opportunities - Industry analysis - Products and technology
What are the phases of the product life cycle?
- Introduction
- Growth
- Maturity
- Decline
What is the most important purpose of a new product or service?
What are the characteristics of the introduction phase of the PLC? (customer, demand, volumes, production efficiency, competition, profit)
- Product not known
- Demand has to be created
- Sales volumes are limited
- Production efficiency is low to no experience
- No competitors
- Negative profit (= high cost per unit + low volume)
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What are the characteristics of the growth phase of the PLC? (customer, demand, volumes, production efficiency, competition, profit)
- Customers become aware of product
- Demand increases
- Volume increases
- Production efficiency is higher (more experience = economies of scale) -> lower unit cost
- Few competitiors -> decreased sale prices
- Profit is relatively small
What are the characteristics of the maturity phase of the PLC? (customer, demand, volumes, competition, profit)
- Customers are fully aware
- Demand stable
- Volume stable
- Intense competition (lower prices and new featuresto differentiate)
- Profit diminishes
What are the characteristics of the saturation and decline phase of the PLC? (volumes, production efficiency, profit, price per unit)
- Volume declines
- Increased efficiency needed
- Profit and price declines
Why is the focus on cradle to cradle important regarding the PLC?
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