The term product life cycle is a concept from the life cycle management (English life cycle management) of the management economics and a key word for the entire life cycle a comprehensive economic viewpoint. To two ranges is referred:
Within the product politics marketing the individual phases of the Marktteilnahme of an offer are grouped, as a function of static or dynamic measured variables. The cycle can be illustrated by differentiated, at least two-dimensional views of model and represents an advancement of the location theory.
Within the management economics to the representation as in fact standard and synonym for the term product life cycle was established the two-dimensional four field Portfolio with relative dimensions of the Boston Consulting Group (BCG matrix). Besides the nine-field matrix is used of McKinsey (McKinsey matrix) as somewhat the more exact model. Rather rarely, but the view of product life cycle of Arthur D is in individual cases interesting. Little (ADL model) with 16 to 20 fields. The basic model in two-dimensional visualization with simple absolute dimensions after conversion and time finds further for a multiplicity of single views use.
The planning of a product life cycle is task of the strategic management of enterprises. Depending upon strength a product life cycle has four to seven phases - not all are always reached. Planning and observation models are in the economic science recognized, nevertheless are not generally accepted empirically provable generally them. With the help of the different representations rather practically the connection between the product life cycle and the cost experience curve is to be clarified as well as to proceeds or the market attractiveness and the competition advantages in different phases of the Marktteilnahme.
While the fundamental phase model arranges the product life cycle according to "conversion" and "timing", frequent used stencils of the Boston Consult Group use and from McKinsey a coordinate system with dynamic parameters. The nine field Portfolio is simply only a more differentiated variant of the managing four-field version and been based likewise on the philosophy of the product life cycle.
Before a product at the market can be introduced, it must be developed and examined for its market fitness, this is done via the product innovation process in such a way specified and is part of the product politics in marketing.
The individual phases postal code in the literature are broken down differently finely.
For the further application possiblenesses see the major item BCG matrix.
The Boston Consulting Group (BCG) is one of the oldest and most successful management consultations of the world. When into the 1970er years ever more enterprises in completely different business fields became active, they developed a concept, which is used until today as basis for business investment decisions. The BCG Portfolio in such a way specified are the basis among other things the three as independently accepted variables product life cycle, experience curve and competitive situation. This Portfolio can be evaluated also without view of life cycle, it be based however on the cyclic view, because the four phases mentioned of the product life cycles of normal way follow one another.
For the 80's with investment decisions and in the strategy development, not only for view of the product life cycle according to data of the authors the Portfoliomatrix actually uses approx. 75 per cent of all larger enterprises. Today there is practically no diversified enterprise more, which does not work with the Portfoliokonzept.
The view of the market growth rate, which in the model of the BCG as given factor is regarded, is questionable. Actually an enterprise can positively affect market growth by suitable marketing-Massnahmen.
We found here 28 articles.
» Pay on production
» Personnel management
» Pilot project
» PIMS concept
» Plague analysis
» Price mirror
» Price paragraph function
» Price performance ratio
» Probability of failure
» Procedural model
» Process Benchmarking
» Process management
» Procurement marketing
» Product diversification
» Product innovation process
» Product life cycle
» Product-accompanying service
» Production planning and - control
» Production system (enterprise)
» Professional organization
» Program depth
» Progress numbers
» Public management economics
We found here 4 related websites.