Successful products necessitate meticulous management from the beginning to the end. The success rate of a product will depend on the effectiveness of its management. Effective management should prevent the company from launching and spending huge amounts of resources on products that are more likely to fail. Product management should increase the pace of product development, marketing, and distribution and integrate best practices to ensure market growth and development. This paper evaluated different phases of the product management life cycle. The researcher found that the product lifecycle encompassed four phases: introduction, growth, maturity, and decline phases. In the introduction phase, the product is launched into the market. In the growth phase, the product market share is growing at a rapid pace. At the maturity phase, the market stagnated, and the product is on the brink of decline. However, to sustain growth, there are several product management success factors, such as technology, that product managers should consider.
Inhaltsverzeichnis (Table of Contents)
- Abstract
- Introduction
- Materials and Methods
- Results and Discussion
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper provides an in-depth analysis of the product management life cycle, focusing on the four main phases: introduction, growth, maturity, and decline. The aim is to understand the critical management requirements at each stage, highlighting opportunities and challenges for successful product development and innovation.
- The stages of the product management life cycle
- The importance of effective product management for successful product development
- Key success factors and potential failure points at each stage of the product lifecycle
- Practical applications of product management principles in diverse business contexts
- The evolving role of product management in the contemporary business landscape
Zusammenfassung der Kapitel (Chapter Summaries)
The introduction provides a brief overview of product management, its importance, and the four phases of the product lifecycle. The materials and methods section outlines the research methodology employed, including data sources and the thematic analysis approach used to interpret the findings. The results and discussion section delves into the concept of product management, exploring its evolution and highlighting key insights derived from the data analysis.
Schlüsselwörter (Keywords)
The key terms and concepts explored in this research include product management, product lifecycle, product success factors, introduction phase, growth phase, maturity phase, decline phase, thematic analysis, data analysis, and business management.
- Quote paper
- Anonym (Author), 2022, Product Management Life Cycle, Munich, GRIN Verlag, https://www.grin.com/document/1306481
