The product lifecycle varies from product to product. Some may last for decades, while others may only have a very short half-life. In light of the dynamic nature of globalized markets, agile product development, fast-paced technological progress, and growing competition, product lifecycles are getting shorter and shorter, especially in the market segments of digital devices and digital goods.
However, companies usually aspire to sell a product as successfully as possible and therefore over as long a period as possible, given that they have invested substantial resources into developing it. Only companies that are familiar with the necessary measures and have the know-how to extend the product lifecycle will be able to establish and maintain their position on the market in the long term. In contrast, companies that don’t take any action at all may quickly see their product exit the market, even despite a successful market launch.
What tools and measures can companies use to extend and optimize the product lifecycle? In our free infographic “Extending the product lifecycle – 5 stages, 5 measures”, we present proven and effective measures for extending or specifically controlling the lifecycle of your product.
Your “Extending the product lifecycle – 5 stages, 5 measures” infographic provides you with the following information in a compact and appealing format:
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