What do you think is the most important stage in a product’s life cycle?
The product life cycle (2021)
Now that you have covered the basics of the product life cycle, complete the following exercise.
Instructions: Determining the most important stage in the cycle
- Reflect on what you think is the most important stage in this cycle.
- Write your answer in the discussion below, and explain why you think your chosen PLC stage is the most important.
- Try to find a real-world example that you can use in answering this. It might be an example from your professional experience or one you’ve found elsewhere.
- Reflect on at least one of comments from random learners below. Do you agree with their response? How do their experiences differ from yours?
Molly Campbell
What comes to mind as the most important stage for me is the decline stage. With the ever changing tech landscape, I feel that apps/websites etc have such a difficult task of staying relevant. Social media apps are what I thought of in this situation. Apps/sites such as Facebook or Instagram are now competing with SnapChat and TikTok, so both have updated their functions to include more video and filters, etc to be relevant in that market. They are trying extremely hard to prevent their decline and become obsolete. I do agree with others that development is very important as well, and the example I gave may have to go back to the development stage in a sense to redesign and update things to meet consumer demands.
Christina Bek Larsen
As it is a cycle, I find it very difficult to point to one stage as the most important one. One stage doesn’t exist without the previous one, I suppose. I think each stage requires something specific from the PM. With competition and evolving needs in mind, I am thinking about the growth stage as being a tricky stage. To keep relevant and ensure your rpoduct is growing seems like a challenge.
Ibukun Oni
I think the “Development stage” is the most important phase because if the right product is not developed to meet the needs of customers, then efforts during the other stages become futile.
I recall developing a digital product, the first assignment of the project team was to ensure that the product met the needs of our customers.
Chibuzo Anazodo
I think the Development stage is the most important because that is where you figure out what fits your consumers needs as well as trends in your industry to adapt or avoid to build a product that will thrive through all stages and still remain relevant after Maturity.
Peter Scheinsohn
I would say introduction, is most important step in the product life cycle. Even, if product was properly developed, but not good enough introduced and advertised or not clear enough introduced for which group it is, it will significantly influence its further growth. However, i also agree that proper development stage and growth stage are also very important, but good start (“introduction”) is vital in my humble opinion.
Development stage is the most critical one. Research and development has to be firm to give us fully fledged product idea that will meet customer need
All the stages are important but “The development stage” is the most important of all. If the product is not developed to meet consumers need the other stages will be useless.
For instance, if a product is been developed in the next few years and technology, costumers desires are not fully implemented in the development stage, it wont be able to fit in properly in the next few years.
So, development stage is very crucial and important.
The introduction stage can be seen as especially critical for me. This is because it’s when the product is first launched into the market, and initial reactions can greatly influence its future success. A strong introduction can lead to faster growth and long-term success, while a weak one
might result in the product failing to gain attraction.
When Apple introduced the first iPhone in 2007, it was a critical moment. The product’s introduction was carefully planned with a big launch event, clear messaging about its innovative features, and significant marketing efforts. This strong introduction helped the iPhone quickly gain popularity, leading to rapid growth.
While I agree that development stage is as well important with my example introduction is most important
Development as the initial stage of a product life circle should be considered as the most paramount. The reason behind this assertion is because, no man sets to build a house without first, sitting down to calculate the cost.
The development process is the planning period where you decide the kind of product that should be introduced, the market and also the individuals as the well as the profit it’ll bring in return.
When all these are put into consideration, the product will thrive.
There’s not to introduce to the market if nothing was developed.
The most important stage of a product life cycle for me, would be the Development stage, at this point is where you have to do everything Necessary and possible to reach the market demand, and if for any reason the demands of customers and client is not met, the product has failed even before launch, because no matter what advert, selling or branding you give to promote it, if it really does not meet the demand of the market it’s a total failure.
Firstly, I think the product life cycle should be iterative, that is,even when there are heading towards a decline certain steps can lead them back to either the growth or maturity stage.
In my opinion, i find the growth stage more important because as there is a massive influx of customers,there is a higher and better chance to increase user experience over the long run.
For me when the word most important comes up it does not negate the fact that others are equally important but that which of the stages in the product’s life cycle others depends more on, meaning others will be more or less useless without it. In my own opinion, I will say the development stage, because there can practically be no other stage without proper development.
A real example will be Apple product(iPhone to be specific) had a a good design and newly seen features than Blackberry,which is the stage of development, which had the most sales in the marketplace before iPhone came. But due to the design of iPhone was able to bring new customer satisfaction enhancing user experience.
For me when the word most important comes up it does not negate the fact that others are equally important but that which of the stages in the product’s life cycle others depends more on, meaning others will be more or less useless without it. In my own opinion, I will say the development stage, because there can practically be no other stage without proper development.
A real example will be Apple product(iPhone to be specific) had a a good design and newly seen features than Blackberry,which is the stage of development, which had the most sales in the marketplace before iPhone came
Well my is introduction, reason because is most important step in the product life cycle (PLC). Even, if product was properly developed for an individual in the market places, but introduction and advertised are not clear enough introduced, it will significantly influence its further growth. However, i also agree that proper development stage and growth stage are also very important, but good start (introduction) is vital in in plc
Nkechi Jackson.
All stages of the product life cycle, from the Development stage through to the Decline stages are interconnected and crucial in their own ways but, I think the Introduction stage should be more important because,in this stage, a product is first introduced into the market and it sets the tone for the success of the product in future.A successful introduction generated interest and build customers loyalty. A well executed introduction,can lead to a successful growth stage.
The most important stage in the product life cycle is the Development Stage. This stage is crucial because it establishes the foundation for the entire product by ensuring it meets customer needs. If the product is not well-developed, it will struggle in later stages. Effective development makes the product viable and competitive, enhancing its chances of success in subsequent stages.
A real-world example is the iPhone. Apple invested significant time and resources in the development stage to create a revolutionary product that combined a phone, an iPod, and an internet communicator. This extensive development paid off, leading to a successful launch and setting a new standard for smartphones, demonstrating the importance of a well-executed development stage.
I perfectly agree with you and I love another perspective to which you have used in showing they development stage is the most important stage in the product’s life cycle.
Thank you immensely.
The most important stage in the product life cycle is the Development Stage. This stage is crucial because it lays the foundation for the entire product. During development, the product is conceptualized, designed, and built to meet the needs of customers. If the product is not well-developed, it will struggle to succeed in the subsequent stages. A well-executed development stage ensures that the product is viable, competitive, and aligned with market demands, increasing its chances of success in the introduction, growth, maturity, and even delaying the decline stage.
A real-world example that suits this answer is the development of the iPhone by Apple. Before its introduction in 2007, Apple spent considerable time and resources in the development stage to create a revolutionary product that combined a phone, an iPod, and an internet communicator. The extensive research and development paid off, as the iPhone met and exceeded customer expectations, leading to a highly successful product launch. Its innovative design and functionality set a new standard for smartphones and propelled Apple into a leading position in the market. The success of the iPhone can be attributed to the meticulous and strategic efforts invested during its development stage.
In my opinion i will say the development stage is the most important in the product life cycle. This stage is crucial because it involves defining and creating the product to meet market needs. A well-developed product lays the foundation for success in subsequent stages. For example, the iPhone’s development have been key to its long-lasting success and market dominance despite the market price and i do agree with Peter Scheinsohn’s comment on the importance of the introduction stage. A strong introduction can significantly influence a product’s growth. However, without a solid development foundation, even the best introduction strategies might not sustain long-term success.
Development stage to me is the most important. Customers/ users is the first point of every product manager. Hence, developing of a new product has to be as a result of users feedback. We cant just develop by our own wants but the users.
I think each stage of product life cycle is very crucial and important because it is a must for every product to undergo these stages . Each of this stages are indispensable, the action and effort put to each of the stages will determine the outcome of the product and its stand in the market world.
If a product is well developed before introducing it to the market it will definitely grow well out there and matured to its fullness and still maintain it relevance for a very long period of time.
I would say the development stage is the most important stage. Your product has to be solution-focused or not problem-based. If a product is not directly addressing a solution for the consumers, they won’t see a need for the product. For instance, in a village that lacks portable water and an NGO decided to construct borehole for the village. With conducting research the NGO constructed the borehole at the centre of the village and later realized that the community members still walk all the way down to get water from the stream, not utilizing the borehole close to them. The villagers will most likely going down to the stream because the walk to the stream is their only time to discuss and gossip about issues in the village. So assuming the NGO has done their research, they would have dug the borehole close to the stream, providing portable water for the village and the same time allowing the villagers catch on the happening in the village on their way to the borehole.
I think growth stage is important though all stages are crucial as one stage will not exist without the other but growth is the hardest stage in life generally. Also, for product i think growth stage is more crucial as product development and introduction will eventually be meaningless if there is no growth because growth shows the product is accepted by consumers and the demand will be high at that point. The growth must be properly managed so the product growth will last for sometime before declining.
Each of the five stages of the product life cycle is important, and it is vital to make the correct business moves at the correct stages.
Also, there’s need to recall that each stage is as successful as possible by adjusting the strategy and investment around the product. You should never become complacent with a product: you should always foster innovation and continuous improvement.
Based on my second paragraph, I see the development stage very key because a lot of exploration is done before the product launch from research, to investment, to market survey, customer feedbacks which helps and determines the success of the next stage
However, the growth phase is also another second important phase bearing in mind that growth is determined by various factors including how valuable or popular a product is, an example would be Twitter X, FB etc
I think the growth stage should be considered the most important stage in the product life cycle. During the growth stage, the product gains acceptance in the market, leading to a rapid increase in sales. This is crucial for establishing the product’s presence and gaining a competitive edge.
1. In my opinion, the most important stage in the Product Life Cycle (PLC) is the growth stage.
2. Explanation:
The growth stage is critical because it is when a product gains traction in the market, leading to increased sales and profitability. During this stage, the product starts to establish itself, market awareness increases, and customer acceptance grows. Companies can achieve economies of scale, improve profit margins, and establish a strong market presence. It’s also a pivotal time for reinvestment in marketing, product improvements, and expanding distribution channels to sustain and enhance growth momentum.
3. Real-World Example:
A real-world example from my professional experience is the launch of a new fragrance line under my perfume brand, Eternal Oud. After successfully introducing the fragrance, we saw a significant rise in customer interest and sales during the growth stage. This period was crucial for us to ramp up production, enhance our marketing efforts, and expand our distribution network. The growth stage allowed us to solidify our brand’s presence in the market and build a loyal customer base.
Every stage of the process is important and thats why we call it a cycle but everything still stands on the root and in this case the DEVELOPMENT STAGE is the root of the product process .
Taking COCA COLA for example the development stage is still the reason why the product is still relevant . Despite competitions , bad medical campaign that it causes lots of health issues , people cant stop taking coke and it has stayed at the maturity stage till date because other brands have not met with the unique taste and the satisfaction the customers get any time the product is consumed all this is because the product was perfected at the development stage .
I would say the development stage is the most important stage because that is the stage where you find out what product would fit the consumers needs so that the product can be introduced properly for consumption
I think that the maturity phase is key because this is where the product has bee accepted by users ;it is important because wrong management of the product at this phase can shorten or terminate the cycle .
I believe all stages are important but the growth stage stands out. After putting all the resources and effort into transitioning or launching the product into the market, this stage reveals the profitability of the product, this is where brand loyalty and a loyal customer base is created. If the product is widely accepted, the company can use competitive advantage to edge out competitors and similar products and gain more grounds.
I think development stage it’s a critical stage in the Product life cycle.
It helps determines the success and failure of the product considering that the development stage centre on getting /understanding ‘”user/consumer preferences”’ and several other factors are needed to ensure acceptance and commercial viability/growth of a product.
However, one cannot underscore the importance of the decline stage to ensure continuity by innovation and adaptation to various new competitions, new technologies etc that will ensure the product remains relevant and has a long lasting Product cycle .
Such can be seen a consumer product such as Coca-Cola whose Product life cycle has remain long with diverse adaptations in its packaging over several years of its existence from usage of bottles, cans, pet bottles etc.
For me, it will be difficult to identify which of the stage are important since one stage is a dependable variable to the other, but I can agree with more firmly is the development stage, where the product is birthed from a vision to solve problem and meeting customer’s requirement: it’s when a product meet users demand, it can be introduce to the market.
The development stage is the only stage which is dynamic in operation; modification and redesign of the product to meet the current market trend is a post phase of the development stage.
The most important stage in the Product Life Cycle (PLC) is the Introduction Stage. This stage sets the foundation for the product’s success, and it’s where the product is first launched into the market.
During this stage, the company is investing heavily in marketing, advertising, and promotions to create awareness and generate interest among potential customers. The goal is to create a buzz around the product and establish a market share.
A real-world example of a successful Introduction Stage is the launch of Apple’s iPhone in 2007. Apple invested heavily in marketing and advertising, creating a hype around the product’s innovative features, design, and user experience. This led to a huge demand, and the iPhone became a game-changer in the smartphone market.
I agree with a comment from a random learner who stated that the Introduction Stage is crucial because it sets the tone for the product’s entire life cycle. They shared an example of a new energy drink that was launched with a strong marketing campaign, which helped it gain a significant market share within the first few months.
However, another learner mentioned that the Growth Stage is the most important because it’s where the product starts to gain traction and generate significant revenue. They shared an example of a software company that struggled during the Introduction Stage but eventually found success during the Growth Stage by continuously innovating and improving their product.
While both perspectives have merit, I still believe that the Introduction Stage is the most critical because it lays the groundwork for the product’s future success. A strong launch can establish a loyal customer base, generate buzz, and create a competitive advantage that can be leveraged during the Growth Stage and beyond.
The most important stage of the Product Life cycle is determined by the organization’s focus. For a new company, it is the introduction stage as this is the core and determines the survival of the company. It is crucial as this guides the resources and time allocated in ensuring that the right product is achieved that is customer-acceptable at the right price. For a mature company that can afford to invest in research and development, the mature stage is the most important as gains and successes are achieved. This ensures that returns on investment (profits) is maximized.
in as much all stages of the product, need each other to enhance the success of the product, I would say the development stage is more important because it defines the product’s worth, which will definitely determine if the product will gain its place in the market.
Major thanks for the article postThanks Again Keep writing
UWOGHIREN OSAGIE WILLIAMS
The importance of each stage can also be influenced by external factors such as market conditions, competitor actions, and technological advancements. Successful companies often adapt their strategies throughout the product life cycle to maximize profitability and sustain growth. Therefore, while the introduction/developing and growth stages are critical for establishing a product, sustaining success through effective management in the maturity and decline stages is equally crucial for long-term viability.
The most important stage of a product lifecycle, is the maturity stage.
At This point, prices stabilizes, companies seek to own the heart of the larger market innovatively by getting lots of customer feedbacks, understanding their needs, knowing more demography.
Example of such, is the Apple products spread across board. At a time, they had to recoup iphones that had gone bad from everyone globally and had it fixed, all cost on them.
All stages are important but the most important is the Introduction stage which can also be called the launch stage. This stage can either make or break the foundation of the product.
I think the most important stage is the growth stage because after the product has been developed
In my opinion, the most crucial stage in a product’s life cycle is the introduction stage. This is when the product is launched into the market, and initial consumer reactions and feedback are observed. It sets the tone for the product’s success and determines its future growth and maturity. Additionally, the strategies implemented during the introduction stage can significantly impact the product’s performance throughout its life cycle.
It is a circle and every phase is equally important. However, personally I think that the growth stage is the stage where every effort is to be channeled once the product has been developed and introduced because it is the relevance of the product in its growth stage that would determine how long it will remain in the maturity stage before it declines but moreover, if the growth stage is well handled, it might not get to decline stage like in tje case of Havannians..
the “Development stage” is the most important phase because if the right product is not developed to meet the needs of customers, then efforts during the other stages become futile.
I recall developing a digital product, the first assignment of the project team was to ensure that the product met the needs of our customers
I think the most important stage is the growth stage because after the product has been developed and introduced and accepted by the consumers, it den means that competition would definitely set in nd from the developers their interest would now be shifted majorly to profits which could be bad 4 the business thus it is the growth stage that should spur more concentration on the products to maintain relevance and monopoly so that went it gets to the maturity stage it can withstand market pressure … A good example would be Netflix.
I also agree with Peter Scheinsohn’s perspective that the growth and development stage are crucial.
No product is perfect at launch, and that’s why we see apps like WhatsApp continually updating their features, which exemplifies the ongoing development and growth process. This stage allows products to refine and improve over time, enhancing their value to customers.
The most important stage in the Product Life Cycle to me is the Introduction Stage, because it sets the foundation for the product’s success or failure. A well planned launch can create a positive impression, create attention, and build customer loyalty.
The fact is that a well executed introduction stage can make all the difference in a product’s success. It’s important to get it right to set the product up for a strong lifecycle. A good example is Apple’s iPhone that was launched in 2007. The successful introduction stage helped establish the iPhone as a game changer, paving the way for its dominance in the market.
I believe the development stage is the most important because it is where the majority of efforts are concentrated, transforming concepts and plans into a functional, high-quality product that meets user needs and market demands. This stage also ensures the effective utilization of resources, addresses technical challenges, and lays the foundation for the product’s success and future improvements.
The growth stage is often the most critical in a product’s life cycle because it involves rapid market expansion, increased revenue and profitability, and solidifying competitive positioning. During this phase, the product gains broader acceptance, establishes brand loyalty, and benefits from economies of scale. Feedback from a growing customer base drives continuous improvement and innovation, helping to maintain the product’s relevance. Capturing significant market share during this stage also creates barriers to entry for competitors, setting the foundation for long-term success. While each life cycle stage is important, excelling in the growth stage is crucial for sustaining market dominance and profitability.
In my opinion, the most important stage in PLC is the INTRODUCTION stage
Reasons: Proper development can be engaged in a product and it is well sponsored and created but if a right product is INTRODUCED into the wrong market with the wrong price, wrong customer,wrong marketing strategy it leads to wasted resource, idea and wasted solution.
The introduction of a product into the market determines how long it will be needed by the consumer which will tell if a product gets to reach the growth phase to adopt measures that will further lead to the Maturity phase and if it will decline or not.
A product with the potential to decline depends on how it was introduced to the market and how the consumer perceived and received the product.
EXAMPLE: Chat GPT came in without even a proper branding but the way it was introduced to the users, has led them to introducing various versions of chat gpt now we even have similar thing like them META AI which on a long run doesn’t have the potential of declining.
How chat GPT has helped in proper documentation and other things, nobody actually cares about the development stage although it is very important but the moment a product is launched into the market, the sustainability and growth and decline depends on that act.
I conclude by saying the Most Important stage in Product Life Cycle is the INTRODUCTION.
i think the most important stage in a product’s life cycle is the development stages.This is because the development stage is the foundation stage in product creation and it requires spending a lot of investment in developing, refining, and preparing for product launch.
I think development stage is the most important stage in product life cycle. After your market survey and you found out what they need, you put resources together to develop the right product. It will remain relevant even at maturity.
I believe all stage in the product life circle are important, but the most crucial stage for me will be the Introduction stage, Introducing a product that probably has lots of competition requires everything to be in order.
Any wrong move can render the product potent, the customers has to see the product as a better value compare to what they know.
I will say development is the most important part of a business. Because when a business is actually falling out of the line, a product manager should be able to think and oversee what could be introduced to the product, that will bring back the greener pasture of it.
Every stage in the product life cycle is important and needs to be properly managed but I will pick the introduction stage as the most important stage because I believe that a products life cycle is greatly impacted by the market adoption.
The objective of this stage is to build product demand so I’ll like to say that the introduction stage is crucial to helping customers decide whether to be loyal to a company’s product or not especially when it meets their needs.
First impression matters here… let’s take Airtels Overjara introduction via the recent TV commercial for example, the 8x recharge offer was introduced with an effective hook, the dramatisation of an expectant father receiving the news of his just arrived octuplets… every one can relate to the memorable Ad, it’s comic appeal makes for free press, the introduction is timely, explanatory and appealing as I hear friends & family including those who have seen the advert just once making plans to get an Airtel SIM or port their lines so they can benefit from the product which time of release is superb considering the current economic situation.
From my experience working with MLM companies at this stage I’ve learnt that using the right sales model, employing the right marketing strategies, putting out effective campaigns involving advertising to different audiences with the use of effective hooks using various channels, also having skilled, well mannered, and well informed people on the PR team at this stage greatly propels the sustainability of the growth and maturity stage of a product as it leaves a great impression on the minds of customers.
I agree with Peter Scheinsohn above that the introduction stage is the most important and it influences the growth of a product because it is at this stage that people learn to love a product so it is either a new product fails at this point or it gains popularity which influences the success of the product.
The Introduction of the Product is most important as if Product is not introduced well it can go straight to the decline stage even if it was developed well.
I think the “Development stage” is the most important phase because if the right product is not developed to meet the needs of customers, then efforts during the other stages become futile.
I recall developing a digital product, the first assignment of the project team was to ensure that the product met the needs of our customers.
All the stages are important and depend on each other co-currently but I still feel the growth stage start out more. This is the stage that has to be sustained for a longer period to keep the product longer in the market.
In my opinion, the most important stage in the product life cycle (PLC) is the introduction stage. This stage sets the foundation for the product’s success and shapes its course throughout the rest of the cycle. During the introduction stage, companies have the opportunity to establish their product in the market, create brand awareness, and build customer interest. If executed effectively, this stage can lead to a strong market position and sustained growth.
Every stage of the product life cycle is important. The development stage, to me, seems to be the most important. that is the point where the product because that is the stage when you determine if the product is what your customer needs. Developing the wrong product or a product, not your customer’s needs affects every other stage of the product life cycle.
In building a product, the goal is to ensure that the product is:
* Valuable- Meaning a product that solves a customer’s need.
*Feasible- A product that is easily built, maintained and scaled.
*Usable – A product that is easy to use
* Viable- Product that will make a profit and meet business revenue objectives.
That being said, I believe the Development stage is the most important phase because it involves planning, forecasting and marketing the product to the right customers at the right time. In this phase, the PMs will gather market research requirements enabling the product to align with customer needs and the market scenario. Without this phase the introduction, growth, Maturity and Decline phase is futile. Also, the answer to avoiding blunders in the introductory phase is to adopt the lean approach to product development which gets everyone involved. The product is developed and introduced in iteration until the product meets market fit before it gets to the Introductory phase.
Growth stage is very crucial to me because this is when the right audience for that product is being revealed and whatever is been done in terms of giving value would make or marr the product.
Well to me, introduction is very important, don’t get me wrong, every other stages are very important, but if the vision and mission of the product is not properly introduced to the market, there’s a probability that it’s just a matter of time, it will die down.
Introductory stage is very crucial because this is when the right audience for that product is getting to see and meet the product.
How it’s introduced will determine the next step of action of the consumers.
The development stage.
Developing a new product to meet the needs of people, the management have to invest time, resources and capital to produce a new item.
I feel like the introduction stage is the most important, it’s okay to develop a good product, but if you don’t introduce it to the right consumers it’s is as good as a waste…the introduction is also the advertising stage ….I agree with the people that picked introduction
Development stage: This is the period a company developed a good product that has a consumer reach. Creating a product is as important as creating a product people need or will come to need.
The most important part of the cycle is the foundation, the development stage because at this stage, we are not only concerned about the present of a good product but also it’s future.
Therefore, a good development stage will factor in the subsequent experience of the product and factor a system for sustaining the product.
For example, there was a time a company wanted to create a service of transporting people cheaply when they order for a ride from an app specially made for that. This product later failed and declined from market after a year due to companies debt. A year after other companies started the same idea but with a better plan and they are still in business.
The most important part of the cycle is the foundation, the development stage because at this stage, we are not only concerned about the present of a good product but also it’s future.
Therefore, a good development stage will factor in the subsequent experience of the product and factor a system for sustaining the product.
For example, there was a time a company wanted to create a service of transporting people cheaply when they order for a ride from an app specially made for tha
I think all 5stages of the product life cycle are important but I believe the development stage is very crucial to the success of a product. A practical example is the social media app 2go. It’s decline came a little too early. It wasn’t developed to withstand the increasing competition in the market space.
AROH LAWRETTA IFEYINWA
I consider development stage as most important stage ,well developed product help other stages to push through. Though all stages works hands in hands.
I remembered working on a household product, the developing stage was not that strong at first which to me did not give me much morale to further more till the correction was made.
My experience as a proprietor of a school has proved that the development and maturity stages are very important and very tasking both in financial and human capital.
I put in a lot research to establish a school which grew rapidly and mature.
The researched analysis needed to sustain growth was carried out but implementing factors to sustain it was lacking due to insufficient human capital who has imbibed my dreams and aspirations to keep needed
to continue the maturity.This led to a sudden decline in the school.
Therefore,in any organization,one must have workforce that have catch the vision of the proprietor/business owner to sustain growth.
I agree with Christina Bek Larson,The
Product Life Cycle stages are all very important as each stage needs a unique attention.The Maturity stage is very demanding to the Product manager and potentially deceptive as one could be basking in euphoria of success forgetting to put up strategies to sustain the maturity.
Maturity stage is very tasking.
All the stages in PLC are important.The development stage .and maturity stages are very important.The development stage think,harness and incorporate all the essential characteristics into the product basically to solve challenges of consumers based on their willingness to pay for such product as seen from the market analysis.
The maturity stages is also important because this stage will determine how long the product will endure and withstand every market forces.Here ,the product management will have to carry out researches to determine factors that enhances growth which leads to maturity.The data obtained must be analysed so as to obtain all the necessary keys that will sustain maturity of the product and therefore sustain the life cycle for as long as possible.This will prevent declining of the product.
As it is a cycle, I can really point out one stage over other, but I would say that the development stage is when you will gets what your consumers needs, likewise,if the introduction is not sound enough, it can affect the growth of the product, which will lead to quick decline of a product in the market… Soo, I will categorically say that all stages are very important.
Personally, the development stage is the most important. Discovering and solving a problem and getting it right is a big deal especially when it’s brings value to the users. At that stage, a lot of thinking, brainstorming and calculated decisions are put into it to make it come out right or at least market worthy, then with time and feedback from users, tweaks can be made to make it better and more valuable.
I think of St Louis sugar, whoever thought about making sugar into tiny cubes must have been trying to solve the problem of how to gauge sugar intakes and probably manage the storage of it. Over the years, it did not experience decline but just recently had competitors and I don’t see them declining in the future either.
I understand your point that each stage in the product life cycle plays a crucial role and is interconnected. While I agree that all stages are important, I still believe that the development stage stands out as the most critical. This is because it sets the foundation for the product’s success. If the product is not well-developed to meet customer needs, it won’t perform well during the introduction stage, which in turn affects its growth, maturity, and ultimately, its longevity in the market. A solid development stage can significantly enhance the chances of success in the subsequent stages, ensuring that the product is competitive and relevant from the start.
As it is a cycle, I find it very difficult to point to one stage as the most important one. One stage doesn’t exist without the previous one, however the growth is what I’ll pick.I think each stage requires something specific from the PM. But With competition and evolving needs in mind, I am thinking about the growth stage can be tricky. To keep relevant and ensure your product remains growing,revamp,rebuilt if the need arises.
A real life scenario would be Disney-they started out with cartons but soon notched up their game by creating Disney land making them stay and remain relevant.
In my opinion, development and introduction can work hand in hand, in the sense that while developing, you can pre-introduce the product to potential customers and take more feedback to refine the product in the development stage. Doing this can create a product that meets consumer demands and attracts more growth after lunch.
To me I think development stage is the most important stage in the product’s life cycle. The reason being that, if a product spent a lots of time at the development stage to ensure it passes every hurdles in other stages of its life cycle, there is no way the product will not be relevant at all time.
We can see this in Coke, nobody has ever produced any beverage to beat its flavour, and that is what making it to be relevant in the market till today.
I think the phase between growth and maturity matter most. Ensuring there is consistency, with update in place to stay relevant.
I would say the development stage is very much important in catering to the needs of consumers and ensuring products meet their demands effectively. It’s essential to analyze key ingredients and design products in a way that resonates with customers on a personal level, making them more appealing and meeting their expectations. This consumer-centric approach can lead to successful and meaningful product developments.
The most difficult stage to me is Declination because at this stage the company product seems to be less relevant in the market and this may be as a result to loosing interest from customers due to quality or pricing or loosing their ground to rivals in the same service.
So for the organization to regain their market dominance,it will be extra effort and expenses and strategies to overcome this.
I would say say the maturity stage of a product is the the most important, because at this stage sales has slow down or start to drop. So I feel like at this stage is when the company calms down and re- strategize, like upgrading the product, changing the design,add new features and removing or upgrading the old features of that particular product. Tho all the other steps are still important
All prodcut stages are vital.However I would think of maturity stage as very critical as it may be the success or the failure of the product. At this point, it may require to conform through modification, redesigning or totally abandoning to a new product based on consumer feedback, profitability and industry needs.
I also agree with other thoughts outlined by others based on experiences and observations.
I think that the Development Stage is the most important. I think so because it is at this stage that you do your initial market research to find out how viable the product is and if it is even necessary. It is also this stage that gives life to all other stages in the life cycle.
I think the most important is the DEVELOPMENT stage. first of all, without successfully developing a product, there’d be no PLC to talk about.
furthermore, this is where all the other stages of the PLC is taken into consideration. it takes more than just making a product but also the vision to see into the future and make room to keep the product from declining.
An example that comes to mind is Amazon, even with all the advances in tech, it still remains valid and most likely will remain so for the forseeable future
I believe the most important stage is the DEVELOPMENT STAGE because It’s a stage where proper planning and discoveries for a great product is being carried out.
A sound DEVELOPMENT STAGE will yield an outstanding Introduction, growth and elongate the maturity stage.
A sound DEVELOPMENT STAGE will definitely delay the decline stage. Nothing relevant goes into extinction.
For example before releasing a marriage course, I am expected to find out if such course solves a problem in the society.
I believe the most important stage is the DEVELOPMENT STAGE because It’s a stage where proper planning and discoveries for a great product is being carried out.
A sound DEVELOPMENT STAGE will yield an outstanding Introduction, growth and elongate the maturity stage.
A sound DEVELOPMENT STAGE will definitely delay the decline stage. Nothing relevant goes into extinction.
The most important stage of a product lifecycle would be the “Growth” stage for me.
At this stage , the product has already been introduced into the market and accepted by customers. How well the product does in the market would be the most important. Also , surviving numerous competitions and generating substantial revenue and building customer support and loyalty.
For me, I will say all stages are important, they are interwoven. For a product to stay relevant in the market in the face of competition.
There has to be rebranding, innovative ideas to keep customers in line.
Example is the consumable beverage drink Milo. Even with the others like bounvita, ovaltine etc.
Rebranding in taste, affordability and availability has helped it standout in the make.
The growth and maturity stage is to be looked into and monitored closely to avoid extinction. This will always take a Product manager through all the cycles of a product.
I think the most critical stage is the development stage. As a company that’s out there to make profit, your ability to come up with a saleable products is really not an easy one or something you go into without deeper understanding and proper planning. It also introduces other stages.
I quite agree with some people who talked about development.
In my own opinion, development, introduction, growth, and maturity play a big role in the decline.
So is very simple, the way these four processes (development, introduction, growth, and maturity) are always been handled, put in place, and maintained determines if there will be any decline in products or not.
The product developmental stage is the most important because it ensures that the product addresses genuine customer needs, aligns with market opportunities, and lays a solid foundation for subsequent development, launch, and growth. A strong emphasis on this phase can significantly increase the likelihood of product success.
For me, I think it’s the introduction stage. You might have a very good product right there in your hand but if you do not create an awareness or introduce the product to the market,it’s as well as not developing anything.
Before you developed your own product, there was already a brand of it out there.
How do you convince a market that is use to brand A to start using brand B which is you?
This is where good communication , negotiation and persuasive skill comes in.
If you pass the introduction stage and you are able to capture the market to use brand B, sales boom.
And this might last for years if you do a proper follow up and engage them.
I believe the most important stage in the product life cycle (PLC) is the GROWTH STAGE. This phase is crucial because it often determines the long-term success and sustainability of the product. During the growth stage, the product gains market acceptance, sales rapidly increase, and profitability begins to rise. This stage is critical for several reasons:
1. Market Penetration and Brand Establishment: The growth stage is when a product can solidify its presence in the market, which are essential for long-term success.
2. Economies of Scale: As sales volumes increase, companies can benefit from economies of scale, reducing per-unit costs and increasing profit margins.
3. Competitive Positioning: This stage often attracts competitors. Companies must strategically enhance their product features, improve quality, and possibly adjust pricing to maintain a competitive edge.
4. Resource Allocation: Profits generated during the growth stage provide resources that can be reinvested into further product development, marketing, and expansion efforts. .
Real-World Example: Apple iPhone
A prime example is the Apple iPhone. When it was first introduced, it was in the introduction stage, characterized by heavy marketing and slow initial adoption. However, it was during the growth stage that the iPhone became a cultural and technological phenomenon. Apple was able to:
– Expand its market reach globally.
– Introduce new features and improvements, creating subsequent product iterations.
– Solidify its brand as a leader in innovation and quality.
– Achieve significant economies of scale, driving down production costs and maximizing profits.
Growth stage is an important stage in a product’s life cycle but what will stay in the growth stage was developed in a more important stage which is development stage. That should be given more attention than the growth stage.
Firstly, all stages are important in a product life cycle but for me, the most important stage that comes to mind is the decline stage. The work that is vested into staying relevant in the market is quite an enormous one and this is because new and probably better products might have flooded the market. Using taxis as an example, it made sense over a decade back when you could just walk to the bus stop of your home in order to get one of those yellow taxis and direct them to your pick up point so that other persons could get in or the item you want to carry could be put in. Along the line, taxify came with a whole different idea of you getting a taxi within the comfort of your home, which actually pushed many customers to forgetting old taxi due to the comfort that came with taxify. Eventually uber, rida, in-drive, to mention a few came, then taxify started loosing its relevance and facing so much competition in the market, which probably caused them to go back to their drawing board to make changes, then they became Bolt and even made the app more interesting by adding the schedule feature, which other driving apps do not have at the moment. However, I actually agree with those who talked about the development stage because every market fallout causes the team to go back to exploring ideas again before arriving at a decision but does not mean that the product might not decline again.
Wonuola
The most important stage in the product life cycle is the Growth stage. During this phase, the product gains market acceptance, sales increase rapidly, and profits begin to rise. This stage is crucial because it determines the product’s future success and longevity. Effective marketing, scaling production, improving product features, and building brand loyalty are essential to capitalize on the growth phase. Competitors may enter the market, so establishing a strong market position and differentiating the product from others is vital. Successful navigation of the Growth stage can lead to a sustained product life and market dominance, whereas missteps can result in stagnation or decline. Thus, strategic focus during this stage ensures the product’s continued success and profitability.
I think the introduction stage is a very important stage because a product can be flawless and well developed but wouldn’t have a clear message that will be pass to the consumers hereby not projecting the product. I also agree to development stage being important but if a company has a good product and the product manager doesn’t give a clear information about the product it can kill the remaining stage. So the information stage is important.
I believe the development stage is the most important because once a product isn’t developed right even if it is introduced to the market, it’s flaws would be realised which might lead to a call back which caused the producer to lose credibility
For me i will say the “Development Stage” is crucial because before you introduce a product to the market you must have carried out extensive research to see if the product will meet the needs of the users which after you can carryout the development. People have different views of things but i believe everyone has point
Determining the Most Important Stage in the Product Life Cycle
Reflecting on the product life cycle (PLC), I believe the growth stage is the most important. This stage is pivotal because it determines the product’s future trajectory and long-term success. During growth, the product has already passed the critical hurdle of market introduction and begins to gain traction, attracting more customers and generating increasing sales.
Why Growth Stage is Critical:
1 Market Acceptance and Expansion: In the growth stage, the product is gaining market acceptance. The initial feedback and adjustments made in the introduction stage start to pay off, leading to a surge in demand. This is when a product can scale rapidly if managed correctly.
2 Competitive Positioning: As the product grows, competitors will likely enter the market. Effective differentiation and strategic positioning during this phase can establish a strong market presence that can be maintained into the maturity stage.
3 Revenue and Profitability: This stage often marks the transition from investment-heavy introduction to profitability. Efficient scaling can maximize revenues and begin to recoup initial development and marketing costs.
Customer Loyalty and Brand Building: Growth provides the opportunity to build a loyal customer base and strong brand recognition, essential for long-term success and customer retention.
Real-World Example: Tesla Model 3
A notable example of the criticality of the growth stage is the Tesla Model 3. After its introduction in 2017, the Model 3 entered a rapid growth phase. Tesla strategically ramped up production and expanded its market presence. The Model 3’s success in the growth stage was essential for Tesla, helping it achieve economies of scale, improve production efficiencies, and solidify its position as a leader in the electric vehicle market. The growth stage not only boosted Tesla’s revenues significantly but also strengthened its brand and competitive edge in the industry.
Reflection on Peer Comment:
While a well-executed introduction sets the stage, it is the growth phase that ultimately determines a product’s long-term success and viability in the market. Without effective growth strategies, even the most well-introduced product can struggle to achieve lasting success.
I think the Introduction stage is the most important stage of a product life cycle..I say this because,this is the stage where people get to know about what you have developed..you will begin to create awareness and tell people how the product is able to meet their particular need..when you develop a product and you do not introduce it to the market or the targeted audience,no one will know about it or know that it’s able to solve a particular problem..
i like your input Ruthraph. however, without a product there will be nothing to introduce, there will be no promotion done, no information shared etc
Development stage is the most crucial part because if you don’t have a good product to develop you can’t even move to the next stage, in this stage you might end up developing new products till you get the one that fits the market.
All stages in a product’s life cycle are important, and each one depends on the others for the product’s success. I believe the development stage is the most important because this is where a product is made to meet the needs of the user. If a product is not well developed, the business may not achieve its goals, and the time, effort, and resources invested in the product life cycle would be wasted. For example, Samsung had to recall a particular product due to a serious defect that resulted in serious damage to both the device and the user.
In my opinion, the most important stage is the Development stage. This is the stage you get to answer all the crucial questions of solving the right problem effectively and the product being desirable by your consumers. If this stage is not properly sorted every other stage would be dead on arrival.
All the stages are important but in my opinion the growth stage is the most important in the product life cycle because during this stage, a product can fix its place in the market, build a loyal following and develop a unique edge that sets it apart from the competitors.
In my opinion the ‘maturity stage’ is most important, reason being that at this point the product is consolidating on its gain from growth and development stages hence it is not easy to innovate at this point which can lead to speedy decline because of new technology and products that are improved being introduced.
In my opinion Blackberry and Blockbuster are examples of this
There is a saying: Whatever you are selling, package it properly., which means develop the product properly. The development stage is one of the most important stages, followed by the decline stage, which calls for evaluation when there is no more growth and maturity. I partly agreed with Christina Bek Larsen that each stage is important. However, the development stage is more important because that is where the internal work is done before it is showcased to the public for introduction. If done properly, introduction, growth, and maturity will be made easy.
The development stage is the most important stage. You cannot develop a product poorly and expect it to do well in the market. The development stage being complete is the only way a product can be introduced into the market, have growth, experience maturity and decline. These cannot be possible without proper development.
In my opinion,the most important stage in the product life cycle can vary depending on the specific product, its market, and other factors. However, the introduction stage is often considered crucial as it sets the foundation for the product’s success.
During the introduction stage, the product is launched into the market, and it’s critical to make a strong first impression to gain market acceptance and establish a customer base. Marketing and product positioning are key during this stage to differentiate the product from competitors and create awareness among potential customers.
I agree with Peter Scheinsohn take on
A real-life example of the introduction stage being significant is the launch of Tesla’s Model S electric car in 2012.
During the introduction stage, Tesla’s marketing efforts and the innovative nature of the Model S played a critical role in capturing the attention of consumers and establishing the electric vehicle as a viable alternative to traditional gasoline-powered cars. This successful introduction stage helped pave the way for Tesla’s subsequent growth and dominance in the electric vehicle market.
I agree with Peter Scheinsohn’s take on the “ Introduction stage”.
I agree with your point that development stage is the most important..This is where you launch your product into the market with a strong and quality value of your product..so that the first impression from people towards your product can last longer
Apple’s 2007 release of the iPhone serves as an example of the importance of the introduction stage of the product life cycle. The iPhone completely changed the smartphone industry and raised the bar for innovation with its ground-breaking touchscreen interface and flawless incorporation of functions like internet surfing, music, and communication. Long lineups outside Apple stores upon release were a result of the company’s planned marketing and painstaking attention to detail during the introduction phase, which generated unparalleled enthusiasm and anticipation among consumers. The iPhone’s successful launch not only made Apple a market leader in the smartphone space but also paved the way for future versions and updates that would guarantee the device’s durability and ongoing relevance.
For me its a bit difficult to point out the most important stage in the Product Life Circle due to the fact that it is a circle. One stage affects the other. However, no matter how good a product is in its development without the requisite publication, it won’t go out of the vicinity. Therefore, the introduction stage is important in my own view. Though the development stage is very important too.
All stages of the PLC is important. It’s as good as nothing if each stages doesn’t build on the previous one.
A real world example will be that of my friend’s Fashion house, together we set out to plan what our target audience will be and their choice of wears/clothing.
We started pretty well. Right now, we are in the growth stage, ensuring we meet our targets; monthly, quarterly and yearly.
The product life cycle holds varying significance for different stages depending on a company’s goals. However, the introduction stage to me emerges as a critical phase for establishing a product’s long-term success. This initial market launch serves to:
Introduce and position the product: Create awareness, build brand loyalty, and establish a clear value proposition.
Attract early adopters: Generate excitement and secure vocal advocates who can influence wider adoption.
Gather valuable market insights: Refine product and marketing strategies based on customer feedback.
Strategic decisions made during the introduction, such as pricing and marketing messaging, heavily influence a product’s trajectory. A well-executed launch, exemplified by Apple’s revolutionary iPhone introduction in 2007, lays the groundwork for future growth and establishes a strong foundation for long-term success. While subsequent stages like growth and maturity are important, they build upon the momentum and positioning achieved during that pivotal introduction phase.
Like the english would say “as you lay your bed so you lie in it”. Development stage plays the most important and vital role in every product so to say. Without a very proper planning a product will not pass the development stage not to talk of introducing to the large market. Lets take as an example an individual who aspires to be a doctor, to sell his self to any organization he must have gone through a rigorous training to attain that fit and as time goes on he may choose to specialise in any part of the field and then continue to develop his self to continue selling his services to the consumers in that space.
The most important stage in a product life cycle is the development stage. The success of every other stage is determined by the development stage. If you are preparing a product to solve a need and the product does not meet the market-criteria, it will affect negatively the introduction, growth, maturity and decline stage.
I am going to give an example of an organisation that produces tangible consumer product I worked with. The product is a bottled water, it was developed and introduced into the market but growth was very slow because the product itself did not meet market-criteria in terms of quality. We have to go back to the drawing board, identify the issues, improve the quality of the water to meet market-criteria then it was re-introduced into the market- and boom the product was a hit and the growth stage was astronomical and currently it has remain in it’s maturity stage and doing very well.
With this example I want to buttress my opinion that the development stage is the most important in a product life cycle.
Hmmmmmmm, well,I feel all stages are important.
it’s safe to say introduction and development are germane
The Development stage is the critical one here. Why because in this stage it is required that a research is done on customers’ needs and behavior and the price they will be willing to pay for the product. When I started a small poultry business I did not consider the expectations or needs of the customer on my product and that cost me a lot of shortage in profit by 70%.
I believe the Development Stage is the most important stage of the PLC. I do believe that the best products never leave the development stage completely. They are consistently being modified to meet new demands and solve more problems. Take for example the transition of mobile phones over the years. They started as just devices that are one step ahead of the traditional telephone. Today we have a year-on-year improvement on these phones. Every year a new feature is introduced to meet the changing demands of the market.
For example, when Nokia refused to embrace developing into the Android ecosystem it greatly affected its market, making it lose its place as the top global market share holder.
The Product Life Cycle is like a journey a product goes through from birth to death. The most important part of this journey is the beginning, called the Introduction Phase. This is where the product is launched and introduced to the world.
At this stage, the company needs to do a good job of marketing and advertising to get people excited about the product. This sets the tone for how well the product will do in the future. If it’s done well, the product can become very successful, like the iPhone was when it first came out in 2007. Apple invested heavily in marketing and advertising, creating a buzz in the smartphone industry. The introduction phase was so successful that it transformed the smartphone industry and established Apple as a leader in the market.
But if the introduction is done poorly, the product can fail, like Google Glass did. So, it’s crucial for companies to get this stage right to ensure their product’s success.
In short, the Introduction Phase is the most critical part of a product’s life cycle, and companies need to nail it to make their product a hit!
I think the most important stage is the Growth because the product has already established its presence in the market and begins to see an increase in sales and adoption hence setting the foundation for long term success. It is the stage where the product’s market potential is realized and the decisions made at this point have a lasting impact.
Reflecting on the Most Important Stage in the Product Lifecycle
Chosen Stage: Introduction
The introduction phase of the product lifecycle is, in my opinion, the most crucial. Because it lays the groundwork for the product’s future success, this phase is crucial. This phase involves the product’s introduction to the market and the formation of initial perceptions. An effective launch can have a big impact on the product’s market acceptance and growth.
Reasons for Importance:
Positioning and market Entry: How well the product is accepted by the intended market is determined during the introduction phase. In order to raise awareness and spark interest among potential customers, effective positioning and marketing techniques are essential.
Reactions and Rework: Early adopters offer insightful input that helps the product get better. This phase provides a chance to fix any problems and make the required changes before the product is made available to a larger consumer base.
Brand Perception: The way people perceive a brand is influenced by its early marketing initiatives and product performance. Building a favorable reputation through a strong introduction is crucial to gaining the trust and loyalty of customers.
Real-World Example: Apple’s 2007 debut of the first iPhone serves as a real-world example of the importance of the introduction stage. The iPhone transformed the smartphone industry, and its successful launch paved the way for Apple’s market supremacy. The product’s unique features, along with Apple’s brilliant marketing effort, sparked widespread interest and enthusiasm, resulting in quick expansion and a dominant market position.
The maturity stage. Even though we are evolving, we can always iterate to make sure the product does not decline. Continuous problem-solving will help keep the product amidst the competition and customer satisfaction.
I feel the most important and critical stage of a product is the growth stage. Almost every company in business has the ability and resources to create and develop a product but often find it quite challenging to keep the product relevant when competitions arise, in most cases competitors create something better and more appealing to consumers having studied the market. We live in a competitive world and it’s usually the fittest that survives, so I believe if any product could stay relevant and be in demand in the face of competition then I’d say it’s served it’s purpose so well.
However it is worth noting that no stage can survive without the other as all the stages are important to a product.
In as much as all stages in PLC are important because they co-exist to make it stage successful, I strongly believe the development stage should be given more attention to, because if proper venting and market surveys are done before introduction, the chance of the product declining will be slim.
It will be unrealistic to point at any particular stage as the most important. Every stage is very crucial as none exists independently. But amongst all the stages, I’d love to talk about the maturity stage as this is where I think creativity and proactiveness comes to play in order to keep the product sailing in the market space.
Let’s take SFN Nigeria and Crocs companies for example, these two companies are into rubber or plastic footwear production. Their products seem to have saturated the market space but instead of sales decline and products becoming obsolete, they restrategize by making and pushing more colourful and desirable footwears into the market. There’s no market space of footwear you enter (online and offline) without seeing different versions of SFN and Crocs.
In fact, virtually everyone uses these products, both rich and poor.
Other companies are are beginning to imitate them by making copy-products (inferior) and pushing them into the market at cheaper prices, yet the main companies thrive. And I don’t see SFN and Crocs leaving the market space any time soon.
In summary, every stage is vital but at the maturity stage, organisations/companies should come up with strategies to ensure they don’t enter the decline stage.
In my opinion, the most important phase or stage is the development (product conception) stage of the product cycle-why because if you fail to get it right at that point (market research) you will end up developing a product that is not needed or not fit for purpose or users need. If you fail on due diligence on customer needs/problems, the entire product life cycle is at risk of failure which statistics in the introductory part of this course stated clearly is quite common for start ups and new products. However, I consider the most challenging phase to be the growth phase. Ascending that steep slope from introduction up to maturity phase where market penetration is established as a new entrant into the market. For example,
AquaPure, a small startup, has successfully launched an innovative water filtration system designed for urban households. After a successful introduction phase with positive customer feedback and initial sales, the product enters the growth phase.
The growth phase in AquaPure’s product life cycle presents several challenges that require careful planning and execution. Successfully navigating this phase involves scaling production while maintaining quality, managing an expanded supply chain, differentiating the product amidst increasing competition, and providing excellent customer service. Effective financial management and strategic marketing are also crucial to sustaining growth and establishing a strong market presence.
By addressing these challenges proactively, AquaPure can leverage the opportunities presented in the growth phase to solidify its position in the market and pave the way for long-term success.
For me, the developmental stage is very important because this is the time the company need to ask the right question and respond to a concrete life situation. Once a product is defective, it loses it life cycle even before it hits the market.
For instance, Spotify came along a few years ago and is currently the most used music app because they incorporated the old, the new, the trend and the young. This gave the app the ability to break through the market and respond to the need which the already existing apps and web music could not respond to, that is-the world is changing.
The most important stage in a product life cycle can vary depending on the product and industry, but generally, the introduction stage is crucial. This is when a new product is launched into the market, and its success at this stage can heavily influence its trajectory throughout the rest of its life cycle. Proper market research, effective marketing strategies, and gaining a foothold among consumers during the introduction stage can set the stage for long-term success. However, every stage of the product life cycle, including growth, maturity, and decline, requires attention and strategic management to maximize the product’s overall success.
The development stage is the most critical stage, cause this stage sets the foundation for the entire products and has a significant impact on its success.
Theresa
The Development is the most important stage because its where you figure out what fits your consumers needs as well as trends in your industry to adapt or avoid to build a product that will thrive through all stages and still remain relevant. Once the product is ready to go to market, initial steps takes place where you spent a lot of time understanding how users respond to the product.
That’s right Terris, I agree with you!
Ibekwe, Theresa .O.
The Development stage is important stage because that is where you figure out what fits your consumers needs, desires, and what trends in your industry to adapt and build a product that will thrive through all stages and still remain relevant. My humble thought.
Ibekwe, Theresa .O.
The Development stage is the most important stage because that is where you figure out what fits your consumers needs, desires, trends in your industry to adapt and build a product that will thrive through all stages and still remain relevant after Maturity. My humble thought.
It is the growth stage for me because once you have reach that stage you have to do all you can to stay relevant else you go obsolete like 2go App.
Sincerely, it’s a very difficult decision to make. I’m caught in between choosing the development stage and the growth stage but I will go will the later because every team is focused on building a valuable product for its audience. But, in the growth stage, it’s absolutely beyond the control of the team sometimes to create a space in the market for the product because one may spend six months effectively building a high quality product that one one wants or has a close substitute.
Sincerely, it’s a very difficult decision to make. I’m caught in between choosing the development stage and the growth stage but I will go will the latter because every team is focused on building a valuable product for its audience. But, in the growth stage, it’s absolutely beyond the control of the team sometimes to create a space in the market for the product because one may spend six months effectively building a high quality product that one one wants or has a close substitute.
no one want or have very close substitute. *
The development stage is the most important stages. If the product is well developed, it will allow it to meet the need of the users, and it will determine how long it will stay in the growth stage
All opinions are important. But why mine is different from opinions for the development stage is Growth is very important a d growth can actually lead to redevelopment at a point in the PLC.
After careful observation of the PLC. It is factual that all the stages involved are important, but I will buttress more on the GROWTH stage.
At this stage continous development to meet the generally accepted standard of the market space and to keep tabs on been ahead of competitor’s is very important. However, the decline stage can not be overlooked because there will be changes with as the product ages, then growth could be transitioned into redevelopment to further meet the future demands.
I will use the automobile Industry as a case study. Now that we have electric vehicles taking over gradually and most developed countries are focusing on Greeener and safer environment all automobile companies have been producing electric vehicles in other not to run out of business.
That is growth followed by redevelopment.
In my opinion, the development stage is the most important stage because developing a product that doesn’t solve any problems meet user’s needs will not benefit anyone at the end of the day.
So much care must be taken to develop a product that solves real problems that users face and these solutions have to be so valuable that users would not think twice even if it means they have to pay to access such solutions which will in turn make the product stay relevant even after Maturity.
For instance, Apple have continued to stay relevant because they have constantly positioned themselves as a brand that will constantly produce high-quality devices which has made them stay relevant after hitting the Maturity Stage. They do not seem to be heading for the decline stage anytime soon.
For me all the stages of the PLC are important but the introduction stage stands out. It links the development stage with the growth stage. How effective and efficient an organisation is, in managing the marketing/advertisement of its new products, determines the market value of its products. For instance, in my former place of work, a cable manufacturing industry, new sizes of cables(either bare conductors, stranded or PVC sheathed cables), are manufactured after carrying out proper market strategy, with practical feedback of market demands ( types and sizes of cables needed). I do agree with the comments of others depending on the uniqueness of the firms, where such options chosen, are given much attention.
To the best of my practical knowledge, I think the development stage is very critical to consider.
This is where all the brainstorming, resources, heavy investment , test-running , expatriate, innovation etc comes to play , which is actually to know what the consumer needs per time to be able to add value to their desire. If not, all of those key indices will become a waste.
The product that comes to mind is Morning Fresh dishwasher. It is still in demand and even cheaper than most new dishwasher in the market because of its efficacy and improvement.
As we know a product is an item or service developed to solve a need and at the same time to maximise wealth.
To me the most important stages of the product are Development stage and Introduction stage, because these two will determine the growth, maturity, decline stage of the product.
A product that comes to mind is Viva Detergent.
The introduction stage and growth in the market was very rapid
while each stage of the product life cycle is important, the significance varies depending on the context. However, the introduction and growth stages are the most crucial in my opinion for establishing a strong market presence and achieving initial success, while effective management during the maturity and decline stages is essential for sustaining profitability and adapting to changing market conditions.
What stands out as the most important stage to me is the Development Stage. Here much data can be gathered and ideas brainstormed, and lessons learnt from observing the performances of other similar products in the market which may be in further stages of product development. This can aid in enhancing the product under development.
Each stage of a product’s life cycle is significant, but the most crucial stage depends on various factors such as industry, market conditions, and the product itself. However, the introduction stage is often considered vital as it sets the tone for the product’s success or failure, establishing its initial market presence and building customer awareness.
I’d go with the Introduction phase.
This is the phase where the product is tested in a real-life setting. This is the phase of proof-of-concept. This allows you to quickly withdraw the product if it isn’t meeting the intended need and iterate as fast as possible or re-strategize entry.
The speed of the growth phase is determined by the success of the introduction phase.
If you the vital information at the development stage, then you have missed it all and going back to correct it may be costly.
To me development stage is the most important because if you miss it here then you have missed it all.
I also understand introduction is key after development.
The introduction stage of a product is crucial as it lays the foundation for the growth and maturity stages. During this stage, sales and market share usually increase, and profits are maximized. If the introduction stage is not executed well, it can hinder the product’s chances of success. This can lead to difficulties in gaining market acceptance and achieving profitability.
Introduction is the most vital stage in the product life cycle. Even if product was properly developed, but not good enough highlight and market or not clear enough introduced for which association it is, it will significantly influence its further growth.
For mean all the stages of the Product life cycle is important as they are interrelated, but the one that stood out for me is the Development stage- this is the brainbox of the product, all the strategic plan, designs, user experience are considered in this stage and if the the future there is need for modification of the product it will take place at the development stage too.
The development stage of a product is the most important in my own opinion. Although the other stages are important but the development stage 6is the most important stage. This is because at this stage, if proper findings are not made before a product is developed, that alone can lead to the end of the existence of the product before maturity. In developing a product, the product manager needs to communicate with the consumers to know exactly what they would like and how it should function. If a product is developed without the involvement of the end users, the product might not survive in the market. The product manager needs to develop the product, based on what is demanded in the market.
I’ll give an example, during the corona virus period, my brother imported a particular device into Nigeria. This device is designed to be used in opening doors,used to operate ATMs. So instead of you touching some places and things with your hands directly,you use the device. Long story short, we were unable to sell half of the quantity we imported, this is because people’s mind set in this part of the world towards this type device was negative. Most people believed that the product couldn’t prevent them from contacting the disease and so they did not buy them. Up till now the device are still unsold. So not carrying out Market survey and talking to the consumers one on one to know what they want before production can affect the longevity of the product in the market space.
I agree totally with Chibuzo Anazodo. You must first figure out what fits your consumer before production. You cannot just develop what you like and think it is right for the consumers. It is important to understand what the personal preference and belief system of your consumers are before going into production.
1. Reflect on what you think is the most important stage in this cycle.
The growth stage
2. Write your answer in the discussion below, and explain why you think your chosen PLC stage is the most important.
A product that has managed to gain recognition in the market and has already set in as a good competition with other brands and even gaining customers and making sales must be a good product so this is the stage where customers are either retained or lost. If this growth stage is not managed properly there would be no maturity stage which could lead to the death of the product.
Anything that was done aand took a product from introduction to growth stage should be maintained as this is the point where the death or longeivity of a product is determined.
3. Try to find a real-world example that you can use in answering this. It might be an example from your professional experience or one you’ve found elsewhere.
BONUX Detergent; a subsidiary of ARIEL. The product was introduced in the market and it made waves and enough publicity to keep the product in the market but the growth stage was where I think the product’s life was brought to an end because there was no reason enough as to why people should stick to BONUX Detergent as it was the same price with ARIEL, it didn’t lather as much as ARIEL did so the growth stage was not managed well.
EX 2. PEAK milk and THREE CROWNS milk. THREE CROWNS soared on the wings of PEAK milk and so got the necessary publicity to make it a good and easy product to sell. How they remained in business despite having the same quality with PEAK milk; because it’s price was lower than the PEAK, it survived the stage growth and has and is still in the maturity stage for many years now.
4. Reflect on at least one of comments from random learners below. Do you agree with their response? How do their experiences differ from yours?
I agree with Molly Campbell.
I think the Development stage is the most important stage, as it is the stage where that defines the product value and goal which is to meet customer needs and proffer solutions. if a product isn’t initially developed to meet consumer needs it wouldn’t progress let alone survive the remaining stages.
Molly makes a compelling argument for the decline stage being the most important. In today’s fast-paced tech environment, staying relevant is crucial. Social media platforms like Facebook and Instagram continuously evolve to fend off obsolescence, adding features like video and filters to compete with newer platforms like Snapchat and TikTok. This highlights the importance of adapting during the decline stage to extend the product’s lifespan. However, I’d argue that the introduction stage is equally critical. It sets the foundation for the product’s success by establishing its market presence and initial consumer base. For instance, the launch of a groundbreaking smartphone can shape consumer expectations and market dynamics for years to come, making it a pivotal stage in the product life cycle.
I think the maturity stage is very crucial in the sense that sales begins to slow down. That is where you need not to be by iterating the developed process. The world is evolving fast, so you need to evolve in that same pace and manner. Using qualitative and quantitative analysis would keep the product in check and help you make informed decisions
The most important stage is the maturity stage because this is where a product market becomes saturated, competition becomes intense and whatever action taken during this stage determines how long the product remains in market before falling into decline.
Looking at Apple iPhone which is currently in it’s maturity stage ,it market became saturated with options for consumers to choose from. Apple faced plenty competition from Android smartphones. Apple put a lot of emphasis on improving it’s products to remain in the market.Apple carried on with marketing campaigns and also expanded it’s market to solidly it’s position.
Vine: a video sharing app that never really entered the maturity stage because of the intense competition from Snapchat , Instagram e.t.c
What comes to mind as the most important stage for me is the decline stage. With the ever changing tech landscape, I feel that apps/websites etc have such a difficult task of staying relevant. Social media apps are what I thought of in this situation. Apps/sites such as Facebook or Instagram are now competing with SnapChat and TikTok, so both have updated their functions to include more video and filters, etc to be relevant in that market. They are trying extremely hard to prevent their decline and become obsolete. I do agree with others that development is very important as well, and the example I gave may have to go back to the development stage in a sense to redesign and update things to meet consumer demands.
The most important stage of the product life cycle is the Product Development Stage (PDS). This is where thorough research and findings about the problem to be solved, how to solve it, who needs the solution, where they are, how many they are, etc, are properly articulated and answered. If the right product is not developed to meet the right need, no amount of sugarcoating during the introduction stage will make the product successful because people will eventually test the product and discover it’s an empty vessel, continues patronage will be denied, and as such, there will neither be other stages as the product will take a still birth. I have realized that the right product that solves that exact need requires little or no marketing. The first users become loyal consumers and marketers through referrals and recommendations. The development stage is the foundation of every product and if the foundation be faulty what do we expect of the body. Have you ever watched an overhyped movie that turns out not to make sense? Such is an example of excellent introduction but zero content and when you watch such movies with so much curiosity only to find it uninteresting you get disappointed.
For example, one of the most successful products of the world is coca-cola, the brand focused so much on the development stage with the coca cola formular as one of the one of the most guarded secrets of the world. This formular ensured that a unique tasty and refreshing drink was birthed and whoever tasted this product became addicted to it. Coca-cola required no marketing, no brand promotion, adverts etc but became one of the most popular brands of the world, travelling to almost all parts of the earth and maintained dominance for centuries. Notice that the coca-cola has never bothered to change their formula or taste despite several years, they have maintained their taste. This is arrogant confidence can only come from a product with solid development as if to say that we have done it complete, there is nothing to modify again.
While I know that it’s almost impossible to make a product and not modify it, this should be the thinking of all product managers, to present a complete product. This implies that the most focus should be on the development stage as rest stages will depend on the outcome of this very stage.
I think the development stage is the most important, this stage is so important that any mistake in this stage will be the doom of the product.
For me, I think all the five stages are very important but the most important is the introduction stage.
I once worked in a newly opened restaurant where I worked as the manager and other roles, we launched out well but alongside my boss was interested in adding other business which was not added during the development of the business. The business lasted for new months though it was a fantastic business idea but we got it wrong at the introduction stage.
I’d say the development stage is the most important stage, it’s where you know the customers, their behaviors to optimize the best features, Total obtainable market, if done right by launching an MVP first to get more knowledge of user needs. It’s the most critical stage
I believe all stages are important in the product development life cycle, but the one that stands out for me most is the Development stage, because if a user centric product is developed, it will be acceptable to the users. This will enable the team to manage the decline stage because the user feedbacks on the product will guide the team on what new things to add or remove to suit their needs
I would agree with the thought that the introduction stage is the most important in a product life cycle because it sets the foundation for how the product will perform in the market. This stage involves introducing the product to the market, building awareness, and gaining initial customer feedback which can shape the product’s future success.
From my point of view l agree with the introduction of product the approach the product is placed in the marketplace has an negative or positive effect on the consumer first impression, you will agree with me that some product fail on arrival even with fantastic Developmemt WHY lack of adequate product design lunch knowing what your customer want is your first selling point
In my own view, development stage is very vital in product management. When you develop a product that is a daily need or regular need to introduce won’t be a problem and such product will grow faster due to high demand.
I believe that the production stage is very important cause it determines if there would be other stages and if errors are made at the production stage it would reflect in the other stages.But in general I would strongly state that for the success of a product; which is our main aim as product managers all stages should be considered very important.
In my opinion, I will say that all stages are quite important, from the development of the product to it introduction into the market,growth, maturity and decline stage.however, I will opt in for Maturity stage, because I believe the effective maximization of this stage will savage the decline stage . At the stage the product can be revised into something that does not looses it originality, yet still meet up with the need of the now of the customer.
I believe that all the stages are actually important but I will choose the growth stage as the most important stage in the life cycle of a product. It is one thing to start a product but for the product to keep been relevant actually takes alot of strategies. With alot of competition out there, it is very easy for a product to get to the maturity stage very fast which we can see happening to most products. For a product to reach the growth stage and maintain that stage for a long period of time is very important and requires alot because there are other similar products that people can choose from and So I believe the growth stage is the most important.
I honestly feel none is important than the other because any attention give to one dictates the attention the subsequent or receding one would demand. However, for the preference, I will adopt Growth. That’s where I can notice sharp response of my customers and whatever response I chose determines if decline is imminent or I hurriedly go back to my development point where adjustments maybe be the sole option.
For me, I will say it is the development stage and the decline stage. Because if the product is well developed. It has to be monitored to know when to redesign to avoid decline and still be relevant or withdrawn and reintroduced in a different way, example is the blackberry phone and bbm chat, there was a time it was the phone everyone needed to have but they did not improve to redesigned, android and apple took over the market and everyone has forgotten about blackberry, not selling like before again.
I think it really depends on the specific product and the company’s goals. The launch stage is critical for establishing the product and getting initial feedback. The growth stage is important for expanding the customer base and increasing revenue. And the maturity stage is vital for cementing the product’s place in the market and establishing long-term success. So I think it really depends on what the company is trying to achieve.
I will like to also agree with others who shared the thought that all the stages are very important, and I will like to emphasize that your introduction of the product with a strategy that is quite attractive is very important to the product lifecycle.
For me all the stages work hand in hand but development is the most important stage because it’s at this stage that the product manager research about the product, the costumer, the market. This is the decision making stage and you have to get it right else it will affect other stages.
For me,I think it’s the growth stage because after the introduction and development stages..You will deal with your competitors, and they are much..
Example:The hospitality sector,especially restaurants. There are so many restaurants in Lagos (I’m a chef),so when your menu has been introduced,be sure to know that only few meals will be your best sellers and if the front end staff don’t push the rest well,it will die down..Then you have bad items,and products you can use again..So many taste buds,so you have to choose the right niche so you consumers can keep coming back..
We usually move to the decline stage most of the time,replace it with something that can work with the product you have so it doesn’t waste or take it out completely..
So growth period for the culinary world is the main stage.
Development is the most important phase for. A product that will meet its goal will be known at the development stage. at the development stage you get to have solved why you are making the product and for who. if this stage is wrong you can’t move further to the next effectively
For me I think the most important phase in pdlc is the launch phase I.e the introduction to market, it’s one thing to get everything right from the ideation to research to development but it another case to get users to buy into your products.
What you plan,how you plan for this introduction phase, and how you are able to get customer to believe and buy into your product is very crucial
I think the maturity stage is the most important stage of a product life cycle because it marks as a middle ground stage whereby someone can be able to learn from the past and foreseen into the future of a product, it is a stage whereby innovations usually comes into the life of a product, a stage that can make or mar a product depending on which steps someone takes. I will like to take Facebook for an example, when the application reach it maturity stage while other applications was taking over the Arena of social media, Facebook noticed this and try to see where they made mistakes and how they can improve on their application,and with this they gain their ground in the market place.
I think the growth stage is the most vital because it is difficult to keep a product afloat in this very competitive world we are in. A product can be developed and introduced but it’s growth is really dependent on the Product Managers, and the products’ quality.
I am struggling between product development and its growth, as which is the most important stage of a PLC. But it seems to me as a choice that product development is the most important stage. While growth is a continuous factor in a PLC until it reaches maturity, the same way product development never ends until it saturates the market, and decline results. Product development is not a one off thing. For instance, it was not lack of growth that Kodak polarod camera out of the market. But the lack of its further development. Memory saver innovation was sold first to Kodak. While it refused to innovate to developing its camera further to store pictures on memory, a competing organisation did. And Kodak was history. Continuous PD enhances PG. Why the Agile methodology is displacing waterfall, is its basic principle of product not being a one off thing. This principle helps not to only improve the product for growth, but to as well retain the product in the market for a longer time. PD for me is an important stage of PLC.
I would say that all the stages are quite important. One is not more important than the other as each step is a function of the step before it. This is just like the analogy of the body parts, where every part has it’s unique place.
For instance, even if you have a fantastic Development phase, if the Introduction phase is not too excellent, the product will not be successful. A successful Introduction phase will need a successful Growth phase before we can label the product a successful one.
The most important stage in a product’s life cycle can vary depending on the industry, market conditions, and the specific product’s characteristics. But for me, I think the most important stage is the introduction and growth stage put together, because this is where you tend to clear any doubts the target market may have and win their hearts. You do this by creating awareness, generating interest, and gaining initial customers. As sales begin to build up rapidly, efforts can begin to shift towards brand loyalty and expanding market share.
A real-world example is Telsa, Inc., an electric car and clean energy company founded by Elon Musk. They started with their electric cars, which, when introduced on the market, were met with skepticism and challenges because they were a new concept to many people compared to the normal internal combustion engine cars.
They promoted their high-quality cars with advanced technology that also helped the environment, and people started to like them a lot. The cars they called Model S and Model X began to sell well as more people looked for better alternatives to traditional fuel-powered cars.
As the company grew, they introduced another car called the Model 3, which was a more affordable option for people interested in buying an electric car. The Model 3 became very popular and helped Tesla gain many customers.
All stages of the product life cycle is as important as the other but for me i think the maturity stage is the most in the process in terms of sales,this is where the product manager comes in,he/she must make a decision as to the right timing to onboard or introduce the product to the market or consumers,it is a crucial and delicate step because if it’s the product is pre-mature and launched to the public, the company will run at a loss.For example; Samsung produced a few series of “NOTE “ in 2014/2015,and the phone exploded while charging even some users complained that it burns up by itself and it’s uncomfortable to use with a phone pouch at times. People didn’t purchase that particular model as supposed to be due to the poor performance or quality the model lacked thereby making the company announce a return -to – factory rule ,some got a replacement while others opted for another brand .
I believe that every stage in a product’s life cycle is important, but if I had to choose one, I’d say the introduction stage stands out the most to me.
During the introduction stage, the tone for everything that follows is set. It’s when consumers first meet the product, forming their very first impressions. These initial impressions can shape their future relationship with the product and the brand. So, making a memorable entrance during this stage is crucial for long-term success.
To put it into perspective, think about the time when Airbnb first entered the scene. It wasn’t just another travel website, It was a disruptive way of thinking about travel and accommodations. Instead of staying in impersonal hotels, Airbnb offered the chance to stay in someone’s home and experience a destination like a local.
Airbnb’s approach during the introduction stage laid the groundwork for Airbnb’s incredible success. During this stage, Airbnb focused on building trust and creating a sense of community among hosts and guests. They had to overcome skepticism and address concerns about safety and reliability. But by spotlighting the unique experiences and personal connections that Airbnb could offer, they captured people’s hearts and set themselves apart from the competition.
Today, Airbnb isn’t just a booking platform – it’s a global community that has changed the way we travel and connect with each other. And it all started with that crucial introduction stage.
What comes to mind as the most important stage for me is the development stage. The development stage sets the foundation for everything that follows. Product strategy crafted during this stage influence how well the product is received and performs throughout its lifecycle. Development stage allows for correction before significant investment. Research conducted during this stage can reveal flaws in the concept or potential market challenges, allowing for adjustments before launch. i think each of the stages plays a role in a product’s lifecycle, However, the development stage holds more weight as it shapes the product’s foundation and influences its entire lifecycle. In summary, the development stage is like building the first floor of a house. If the foundation isn’t strong, the whole thing could crumble later. In product development, you can fix mistakes early on before you spend a lot of money.
As a circle I believe the other won’t be possible or effective without the former. They’re perquisite to each other.
The development of your products as a product manager is essential to meet up with the standard or above the expectations of your customers.
The growth of your products must be consistent to improve the quality of your products.
As a product manager, the introduction of your products must must be convincing enough to your customers in light to see the solution to their specific need your products tend to meets.
The growth of your products must be consistent to improve the quality of your products.
The maturity is how you relate directly with your customers,manage their feedback to aid a better growth of your products.
Extra competitive intelligence programs to remain relevance, remote environmental activities would be affecting your products, hence, DECLINE will pop in.
I’ll like to use NOKIA and BLACKBERRY as examples. These two products has a great development when it comes to production of gadgets e.g Phones and phone accessories and their introduction to the market world was commendable but their growth and maturity weren’t put on check which aid their declination in today’s market. Compare this with apple (iPhone producer) who tend to upgrade(Consistent growth) their version conservatively with little or no difference in their products which I believe the was as a result of utilizing (Maturity)the feedback of their users in the competitive market. No declination of any Apple products up-to-date.
For me i think each of the stages are dependent on the other and the growth stage is kind of vital as competition and new innovation keeps coming up, the PM will have alot to do to sustain and keep the product relevant.
I couldn’t agree more. Every stage is as important as the next.
I think the Maturity phase is the most important one speaking from a financial point of view because this is the period when the product is at its most profitable, demand is high, so most business will have to constantly seek ways to make sure their products remain relevant to the consumers for as long as possible.
An example that comes to mind would be Apple products. Right now they are in their maturity stage, and they leverage so much on that by constantly unveiling new products in the market with little or no significant differences from the previous versions of the same products e.g iPhones
For me, I’d say the development stage is the most important- if the market survey and user segmentation is not done correctly, the product, when it is introduced to the market, might not solve any problem and in the long run, it will fizzle out.
For me I will say the development stage is most crucial. One highlight was when I was asked to handle a project for a bank, as a baker I was to create a design to suit what the bank’s customer week is portraying. I developed a plan which was nice but pricing and size of product wasn’t favourable to them so they gave the job to another vendor. I would say if I had a good development plan I wouldn’t have been cut unawares, I would have covered all areas to ensure everything is in place.
The development stage is important because without it there will be no chance for introduction let alone growth stage.
For me I think the most important stage is the growth at the point where you have done all, the ability to re-strategies and either replace the old product due to changing demands or rebrand the product to suite the changing times. I noticed that so many businesses crashes at this point. If I will get to the peak and then crash what then is need to even state.
Fatoyinbo Omolola
I will say development is a very crucial stage to begins with a product because you can never be wrong with introduction but you can be wrong with development. For example is toothpaste, you can do the introduction of it perfectly but developing it to a taste and to work perfectly is a thing, so development is the most important stage.
ASAOLU OLUBAYODE
In my opinion, the most crucial stage in a product life cycle is the introduction stage. This stage sets the foundation for the product’s success or failure in the market and can significantly impact its long-term viability.
McVitie’s Digestive biscuits were introduced by the British biscuit manufacturer McVitie’s in the late 19th century, and later was properly launched by A&p Foods Limited in Nigeria in 2017. These biscuits were initially created to aid digestion and were made from a blend of whole wheat flour, sugar, malt extract, and baking soda.
During the introduction stage, McVitie’s focused on promoting Digestive biscuits as a wholesome and nutritious snack that could aid digestion. The company employed various marketing strategies, such as advertising campaigns, product demonstrations, and sampling events, to generate awareness and interest among consumers.
As a result of effective marketing and promotion, McVitie’s Digestive biscuits gained popularity and quickly became a staple in British households and also across Nigeria. The biscuits’ reputation for being both tasty and beneficial for digestion contributed to their widespread adoption among consumers.
The successful introduction of McVitie’s Digestive biscuits laid the foundation for their continued success in the market. Over 150 years, the brand has expanded its product line to include various flavors and variations of Digestive biscuits, catering to different consumer preferences and dietary needs.
Overall, the introduction stage played a crucial role in establishing McVitie’s Digestive biscuits as a beloved and iconic snack, highlighting the significance of effectively introducing a product to the market to drive adoption and long-term success.
Although all the life cycles fo hand in hand, I’d say that the growth stage is the most important, being that it is at the point that all hands would be on deck to ensure that the peoduct maintains its place in the open market. Take Coca-Cola for instance. They do not have a particular target population as thir audience. They have everybody in mind when it comes to consuming their beverage hence the need to introduce different flavour and level of sugar content as it pleases the final consimers. At this stage, a business venture will do all it takes to remain on the spotlight and that is where being innovative plays out.
In my own opinion “Development stage” is the crucial step in product life cycle because decisions to develop new products must come from understanding the consumers needs and the stage at which it will be useful to them.
Developing products that won’t be useful automatically the products will not reach the growth stage.
For me the development stage is the most important because that is where the key decision of the birth of the product is taken. And any mistake made in this stage will affect other stages, without this stage other stages won’t be in existence.
I think the most important stage is the Development stage. This seems like the foundation of whatever the product will accomplish in its lifetime, and if the foundation isn’t properly constructed, there’s the tendency the product fails at any of the other stages of the cycle. Developing also occurs to me as the hardest part of the cycle, due to potential biases and errors that can be introduced; moreover, figuring out what the customer wants is the big challenge which I believe if surmounted, other stages of the cycle would be a breeze. The example that comes to mind is Threads by Meta. The basis of development was unfounded and its popularity is almost nil currently. I absolutely agree with others’ opinions, every stage of the cycle is essential to the overall success of the product.
All the stages are vital to the product life cycle but in my own opinion, the Maturity Stage seems like the most important stage in the product life cycle. Being able to bring a product to the maturity stage and maintaining that position for a long period of time should be a big feat. The success of a product is the goal of a product manager, so having to reach that stage and demands keep increasing, generating sales increase year in year out without declining should be the utmost priority. An example that comes to mind is PEPSI and COCA-COLA. These two companies are controlling the drinks and beverages market rolling out variants of their products every other day. The Maturity Stage should be the most vital aspect of a product life cycle.
The introduction stage of a product’s life cycle is often considered crucial. It marks the product’s entry into the market, allowing for the creation of a competitive advantage and the establishment of brand recognition.
It offers an opportunity to educate consumers and gather feedback, which can lead to product refinement. A successful introduction stage sets the foundation for future growth and momentum. However, it’s important to note that all stages of the product life cycle contribute to its overall success.
All stages are Important from the Development to the Decline because they all holds value to the Consumers and each stage is a growth process
I believe that all the stages of the Product Life Cycle are equally important as none of them can be done without. However, if we should narrow it down to one, I’ll pick the introduction stage. This is because an organization can do all it can to develop the right product that will solve problems of its users, but if it isn’t properly introduced and marketed to the public, the well-developed product ends up not getting much publicity and traction, then what is the use if it won’t get to the end users? Development can still be ongoing as it is introduced, that’s why we have updates to softwares. This makes the introduction phase the most important part.
I think the “Development stage” is the most important phase because it requires developing the product, refining and preparing for launch. if the right product is not developed to meet the needs of customers, then efforts during the other stages become futile. It is the most important because that is where you figure out what fits your consumers needs. to build a product that will thrive through all stages and still remain relevant after maturity
To me. One of the most critical stages of product lifecycle is in its research and development stage. It is the stage where a company designs a particular product to meet specific demands of the market. Predicting the status of a product in the market and how its demand fluctuates over time is the only way that a company can stay successful.
Before the decline comes, a company should make key business decision and do something innovative to keep their business up on sales. If
The Introduction Stage is crucial because it sets the foundation for the product’s life cycle. Successfully navigating this phase can determine the product’s future success trajectory. It involves significant investment in research, development, and marketing to establish a foothold in the market and generate initial demand. Without a strong introduction, achieving growth and sustaining momentum in subsequent stages becomes challenging.
A real-world example that illustrates the importance of the introduction stage in a product’s life cycle is the launch of the iPhone by Apple Inc. in 2007.
During the Introduction Stage:
Innovation and Differentiation: Apple introduced the iPhone as a revolutionary product that combined a mobile phone, an iPod, and an internet communication device into one device. This innovative approach differentiated it from existing smartphones and captured the attention of consumers.
Marketing and Branding: Apple invested heavily in marketing to create awareness and generate excitement around the iPhone. They leveraged their brand reputation and iconic advertising campaigns to build anticipation for the product’s release.
Market Penetration: Despite being a newcomer in the smartphone market, Apple strategically partnered with exclusive carriers (initially AT&T in the United States) to penetrate the market effectively. This approach helped them secure distribution channels and gain access to a broad customer base.
Early Adopters: The introduction stage attracted early adopters who were eager to try out the latest technology. Their positive experiences and word-of-mouth recommendations contributed to the initial success of the iPhone and laid the groundwork for future growth.
The successful introduction of the iPhone laid the foundation for its subsequent growth and dominance in the smartphone industry. It set a new standard for smartphones, revolutionized the way people interact with technology, and established Apple as a leader in innovation. Without a strong introduction, the iPhone might have struggled to gain traction in a competitive market dominated by established players. Therefore, the introduction stage played a pivotal role in shaping the iPhone’s remarkable success story.
Looking at the different stages , I think, the development stage is very much important. It gives an over view of the intention of the organization as regards the product.
Poor development, will basically lead to exit of the product in the market.
MATURITY PHASE: This is the most important one extending from a financial point of view because this is the period when the product is at its most profitable
Minimizing cost while Maximizing profit is the ultimate focus of a business
The maturity phase represents the peak sales volume for a particular product. Ideally, this is the most profitable stage in the product life cycle, with sales revenue exceeding expenses from marketing, manufacturing, and personnel. In the best-run companies, maturity phases can last for years, if not decades. It helps when you sell a product that people will always need more of, like tires or tissues. It also helps to have an expansive product concept, like a video game franchise that keeps rolling out sequels. Companies remain in their maturity phase by conducting continual market research, soliciting customer feedback, and rolling out new iterations of an existing product.
A good example of this is COCA-COLA.
The product has been in its maturity stage for several decades, their sales revenue exceeds their expenses . Even with minimal advertisements, they still control most of the market.
They also invest in rolling out different variants to suit customers changing needs and behaviours, ie Diet coke, zero sugar coke etc.
They remain relevant in that market till date.
For me, the introduction stage is the most important
Bringing something entirely new into the market requires a whole lot of efforts.
For the product to reach the maturity stage, the introduction stage which is like the foundation stage must be very solid.
No any stage in product lifecycle that is not important as the other. However, At early stage which is development stage or idea stage is where a new product is dream, vision and capture. This stage involves creative thinking,idea imagina, idea thoughtful, covener research, exchange development, testing and iteration.
In development stage product go through many test running and feasility study to be able for develop a product before introducing into the market.
Every stage in product lifecycle is as important as the other. However, the development stage is where a new product is conceptualized, designed, and created. This stage involves idea generation, idea screening, user research, prototype development, testing and iteration. In the development stage product go through many iterations to be able for develop a product before introducing into the market.
1. The Most important stage is the INTRODUCTION STAGE.
2. REASON IS.
The level at which the product gets to during the Introductory stage will determine the Growth and maturity stage.
3. Indomie Noodles. Upon the high rise in price now. Its not declining anytime soon. Because, their introductory stage (advertisement) captivated the minds of everyone and has gone wide.
4. I agree with Peter Scheinsohn and with Ibukun Oni. But on Ibukun Oni.. Once a product is produced and you have the right Introductory methods. There will be customers that needs your product.
Each stage of the product life cycle is crucial in its own way, but the “introduction” stage is often considered most important. This is when a product is launched into the market, establishing its presence, gaining initial customer awareness, and setting the tone for its future trajectory. Successful introduction can pave the way for growth and eventual maturity, while missteps during this stage can hinder long-term success.
A real-world example of the importance of the introduction stage in the product life cycle is the launch of the iPhone by Apple in 2007. During the introduction stage, Apple generated massive buzz and anticipation for the iPhone through effective marketing campaigns and media coverage. This stage marked the beginning of a revolutionary era in mobile technology, establishing Apple as a key player in the smartphone market. The success of the iPhone’s introduction laid the foundation for its subsequent growth, maturity, and continued dominance in the industry, shaping consumer behavior and preferences for years to come.
In my opinion, the Development Stage is the most critical stage. If the foundation is faulty, the while building will crumble. So if the market research, consumer interest, profitable check is not done properly, then you invest heavily on a product that isn’t needed or as a low demand.
In my opinion, the most important stage in the product life cycle is the introduction stage. This stage sets the foundation for the product’s success throughout its life cycle. During this phase, companies have the opportunity to create a strong market presence, establish brand recognition, and capture the attention of early adopters. Successful execution during the introduction stage can lead to long-term profitability and sustained growth.
One real-world example of the importance of the introduction stage is the launch of Apple’s iPhone. When Apple introduced the first iPhone in 2007, it revolutionized the smartphone industry and set a new standard for mobile technology. Through effective marketing and product innovation, Apple captured the attention of consumers and established itself as a leader in the market. The success of the iPhone’s introduction stage laid the groundwork for subsequent models and expansions into new markets, contributing significantly to Apple’s overall success as a company.
To me, I will say that the most important stage of the product life cycle is the “Maturity Stage” because this is a useful stage where the product manager can extract the data and learn from the mistakes.
For example, when you notice that, the product sales are beginning to slow down, what you are to do as a product manager is to strategize and bring in innovation, then redesign the product to serve the needs of your audience better.
Take, for instance, the company that produces carpets, when they noticed that the product demands were low and it was becoming outdated, what they did was to strategize and redesign to sand and wooden tiles to serve their customers better.
Finally, I also agree with the development stage which is the starting point because that’s where all the work and collective efforts focus.
Unfortunately, I believe that no matter what, there should be new ideas after the product has been outdated and that’s where the innovation and redesign come into play.
I would say ‘Development stage’. Creating a product without doing a proper survey would lead to a wasteful effort. There are a lot of ‘Ifs’ to consider before development takes place.
I believe every phase is important but I strongly think the Development stage is considered the most crucial phase in any project, as it serves as the foundation for success. If a product fails to meet the customers’ requirements during this stage, subsequent efforts become futile. Hence, it is essential to ensure that the product developed during this phase aligns with the customers’ needs.
I can recall an instance where I thought of setting up a laundry service sometime last year, I prioritized the alignment of the product & service with my customer’s needs to avoid discrepancies in the later stages, and by doing so, a robust service was created that was satisfactory to our customers’ demands.
Every product goes through a cycle from conception to decline. The cycle is known as the product life cycle. It refers to the period a product takes from conception to decline. Two stages are very critical. The first is the research and developmental stage. This is where the thinking, design and holistic conception of the product to be market-fit takes place. If the thinking is not good, the product is not good. It is dead on arrival. The second most critical stage is the maturity phase. This is important from a financial point of view because it is the most profitable stage, the stage when the costs of producing and marketing decline. At this time, the market is saturated with the product, competition is now higher than at other stages, and margins start to shrink. It is the stage at which sales volume is “passed with flying colours” and product Managers will at this stage go back to the drawing board to think of a succession product.
I’m so sure that Maturity phase is the important of product life cylce. This is the most important one to extend from a financial point of view because this is the period when the product is at its most profitable. This is the time product has reached it’s saturation in the market place where pricing becomes a problem.
For example, social sites with apps like Truth Social are now competing with with Twitter in order to drive competitive marketing environment.
At the stage, a product manager should become adept at his job implementing his skills to create features in their product with minimal spending and pricing to it’s target audience which are the customer.
From what I’ve seen, the introduction stage of a product is the most important part of its life cycle. It’s like making a first impression. It sets the tone for everything else. If you nail the start, with good sales and happy customers, you’re on a solid path. Every stage of a product cycle is as important as the other. Growing your product, maintaining its popularity, and even gracefully winding it down all need smart moves to keep things going smoothly.
Personally, I think that the introduction stage is the most crucial or important because it sets the tone for the product’s future success. During this stage, companies establish brand awareness, build market demand, and lay the foundation for long-term profitability. In other words, the success and failure of a product is dependant on the introduction stage, how well you handle the introduction stage determines how well the product will perform in the long run. Making a strong impression at the introduction stage can significantly impact the product’s trajectory throughout its life cycle.
All the stages of a product life cycle are important and focused on by a product manager. But the stage that need more attention is the maturity stage because at this stage the product is saturated, competition is increasing, customers demand is decreasing as a result of substitute in the market. The need to rebrand, repackage,and adding some features to the product to make it new to customer is important so the product will not get to the decline stage and finally be sweep out of market. An example is our mobile phone. Additional features are added to our old traditional phone to make it an Android, iphone,etc which make them unique and long lasting in the market.
From my experience I believe all stages in the product life cycle is very important, they all co-exist. The product manager has to focus on each of the stages according to how delicate it will be. But to select the which needs more focus will be the development and introduction stage which needs to be carefully planned and overlooked by the product manager and other tech mates.
From my experience I feel all stages in the product life cycle is very important, they all co-exist. The product manager has to focus on each of the stages according to how delicate it will be.
To me, the most important stage of the Product Life Cycle is the Development stage. It is at this stage that you perfect your design and ensure that it meets the customer demand and satisfaction.
I think the development stage should be an ongoing stage so that corrections and adjustments can be made to the product as it moves along in the product life cycle. I guess this is the reason why newer models of products are released after some time in the market to cater to new demands that might have been discovered during the launch and the release of the earlier model.
I believe the most important stage in the product life cycle is the development stage. Creating the right product that meets customer needs is crucial for success. Without a solid foundation, efforts in other stages may not yield the desired results. For example, in my experience, focusing on developing a digital product that aligned with customer needs ensured that our marketing, growth, and efforts to prevent decline were built on a strong base.
I think the most important stage in a product life cycle is the ” development stage” reasons be that, the development stage is the background study of the product you want to introduce or launch, it is a stage of exploring, making research and getting vital information if it would satisfy customers needs. So if a product manager can successfully figure out all this in the development stage, every other stages will follow and most importantly…will determine if there would be growth or not.
Note: When there’s no proper exploration made on the product in the development stage, the growth of the product is likely to be at stake leading to the decline stage.
Every stage of a product cycle is as important as the other but to my best knowledge I think the development stage is a crucial stage in the sense that the performance or value at launch stage depends on the how much problems or needs of the consumer, the product is able to solve . For a product to do well in a competitive market, The development stage must answer a lot of consumers questions .
To me every stage is important. Each stage has it own functions and a product manager will need this stage for effective product.
I think the most important stage for a product life cycle is the maturity stage: This is the most important one to extend from a financial point of view because this is the period when the product is at its most profitable stage.
Every stage is important in a product life cycle. But I think the Introduction stage is. Reason been it sets the foundation for a product success.Determining the most important stage in the product life cycle depends on various factors, including the product, market dynamics, and business objectives. However, the introduction stage is often considered critical because it sets the foundation for the product’s success.
During the introduction stage, companies establish brand awareness, introduce the product to the market, and capture early consumers. Effective strategies at this stage can pave the way for growth and maturity phases. Additionally, Creativity and Uniqueness during the introduction stage can create a competitive advantage and position the product for long-term success.
As much as I agree that all stages of a product life cycle are important, I think serious attention should be given to the growth stage because as a product is developed and introduced by a company, another is building something similar. If a product’s growth and relevance are not given serious attention, consumers or customers will easily divert to another similar product which gives more satisfaction than the previous. An example is the Blackberry phone. It came with a personalized subscription which allows users not to chat with other Android phones but fellow Blackberry. Various technology companies developed phones that do what Blackberry does and many more without being selfish. Blackberry has now gone into extinction.
In my Opinion the best stage is Development, because you start your project accordingly to the customer’s needs that’s why development is best way and stage to use.
As for me, the introduction stage is the most important stage in PLC. A well successful introduction of a product will determine the acceptance of the product. If the product introduction
Is bad the thriveness of the product will be short live
I agreed with peter Scheinsohn on his position below
I would say introduction, is most important step in the product life cycle. Even, if product was properly developed, but not good enough introduced and advertised or not clear enough introduced for which group it is, it will significantly influence its further growth.
I think the Development stage is the most important stage because that is the exploration stage, where you figure out what fits your consumers needs and all the trends and approaches your industry will adopt to sustain it through all the other stages, even in decline stage, you keep researching for strategies to keep existing.
Stages in project management are all important as one stage leads to another. Jumping one stage will amount to serious distortion in the project execution.
It is therefore imperative to follow each steps one after the other.
The most important product life cycle to me is the development stage because it is at this stage exploring the right and best product can be developed or created that will stand the test of time. Once a product is produced with the right tools, you need not put in much effort to introduce it to the market and its life cycle may stay longer at maturity and may not decline anytime soon if the quality is good at the development stage. For example due to the creation of Samsung product, which has quality during the exploration stage of production, the product is still in the market for so many years and has not decline up till this moment.
Going and studying the products life cycle.
Every stage is important, product cycle follows a water fall methodology.
Where every stage needs to be carefully treated well ease there will be a flop.
Many products get crashed at the development stage because of a carefree attitude
I will say the “growth stage” because looking at the chart of PLC it is at this stage that the product either stay afloat or go back to square one that is development stage. Growth simply implies that you keep on doing all you have to remain relevant. Which means there is always room to improve on the product. Example is Twitter, they are always adding new features from time to time. They try to look out for some features that their competitors like Instagram has and add to theirs and also innovate other ideas to ensure that their consumers does not have anything to do with their rivals. This alone will keep the product afloat for a long time.
Determining the most important stage of a product life cycle can vary depending on the industry and the specific product. However, for me, the Introduction stage is often considered crucial as it sets the foundation for the product’s success in the identified market, and with the customer. At this stage there must be a buy-in for the product. If this stage is not well managed, the product may either succeed or fail. It is a stage that requires utmost patience and strategy upon strategy development for customers’ buy-in into the product.
I think growth is the most important stage, to develop and introduce a product is actually not hard but to keep the product growing and preventing it from future decline is actually the most important
left to me, I would say Growth Stage of product life cycle.
At this stage of a product it is important for the product management team to note that continous research and development on their product will help them remain in market. Lets take Nokia for example. At some point in my life when I was a kid, i thought nokia was the only company producing phone due to it popularity and avaialability in places. going forward it started fading awaying knowing well that the maturity stage of the product has arrived. They should have worked on themselve better since they own the market as at then. so growth stage of every product is as important as your healthy life. every product need to keep up with the pace and new technology, this is why research and development is paramount to product managers.
Every stage in a product’s lifecycle holds significance, and it’s crucial to acknowledge that not all products have everlasting durability. Unfortunately, products have a finite lifespan, but their longevity can be extended. The maturity stage is particularly critical because it marks the point at which a once-popular product may experience a decline in sales and numbers compared to the earlier stages (development, introduction and growth).
When products reach this stage, it becomes essential to extract valuable data that can help rectify any overlooked errors from the development, introduction, and growth stages. A case in point is Toyota, a company that has been in existence for almost a Century, yet their products continue to be appealing. They boast a diverse range of brands catering to different social classes of customers.
For me development is what will inspire you to introduce what you think the market need and that will surely prompt the growth of the company just like the flip-flops company
This is a very intricate decision to make, but like the saying goes, life indeed begins with conception and birth, I’ll choose the development stage as the most important stage of the circle.
He you have to develop a product that meet consumers need adequately, once this is done, other stages of the industries can be handled with ease.
A good examples are different product in the food industries, they don’t have to struggle much with marketing because constantly, there is always an available market for their products and rebranding and ungrafe to stay in the market is always not much a product to them. Some good examples are Indomie noodles, Gala sausage roll and a long list of others.
The most important stage in a product life cycle is often considered to be the introduction stage. This is the point where the product is released to the market and it is critical to get it right. If the introduction stage is not executed well, it can have a negative impact on the product’s success. During the introduction phase, it is important to make sure that the product is well-marketed, that it has a strong value proposition, and that it is priced competitively
For me this is the stage that will determine how well the product will do
I believe the development stage is the most important stage as every other stages depend on it. This is because if the product being developed is not the right product needed by customers. It might not succeed the introduction stage and a lot of investment would have been put into the development which would eventually result into a failed product when it gets to the introduction stage.
With out thinking twice I will say the development stage, although all other stages are important but the development is more important. This is because the development stage is when we get it right. This stage make us see reasons why the project is created, the problems it is solving and which method it is using to ensure that product will continue to be in market.
The development stage and the growth stage seem to be the most vital stages. To achieve growth, customers must see great value in the product and to prevent the product from a quick decline it must be developed in such a way that it’s going to be flexible and have room for innovations and improvement to compete with trends and technological advancement.
Each stage of the product life cycle holds its own importance, but if I had to choose one, I’d say the introduction stage is crucial. It sets the foundation for the product’s entire journey in the market. How well the product is introduced can significantly impact its success in later stages. Effective strategies during this phase can shorten the time to reach growth and maximize the product’s potential.
Development is the bedrock of every product, if you get it wrong there, you will most likely get everything wrong.
I think the development stage is the most important in the product life cycle. Because the development stage is where research ad process building happens, if product was properly developed with the user in mind, it becomes easier to introduce and advertise the product too a eager audience. This doesn’t invalidate the other stages but it’s more a matter of setting the right foundation through development.
As a matter of fact, I find it very difficult to point to one stage as the most important one. One stage doesn’t exist without the previous one, I suppose. I think each stage requires something specific from the PM. With competition and evolving needs in mind, I am thinking about the growth stage as being a crucial stage. To keep up with the market and stay relevant as well as ensuring your product is growing seems like a challenge.
I think the development stage is the most important because that is where you figure out what fits your consumer’s needs as well as trends in your industry to adapt or avoid to build a product that will thrive through all stages and remain relevant after Maturity.
the development stage is the most important and my reason is the right product has to be developed to meet the need of customers therefore ensuring the acceptability of the product when it gets to launch
I would say that “Development Stage” is the most important phase. it’s during this stage that the ” customer at heart, demographic trends, and other phases are considered.
Hi,in my own opinion,all stages are very important up from the development to decline stage..but the most important is the growth and maturity stage because is a very risky stage which has to be monitored in other to keep the product relevant and all to prevent it declining.
At this I think the introduction stage is the most important, giving example with myself as a. Business person, most products in the market are very good but due to lack of strategic marketing it tends to wither or dumped aside.
All stages are important in a product life cycle but in my opinion, I strongly believe that the Maturity phase is the most important and from a financial point of view because this is the period when the product is at its most profitable.
For me, the most important stage in the product life cycle is the development stage. This very stage determines how relevant the product becomes and how long it stays in the market before declining. When the appropriate steps are taken to make a product with so much relevance, it Will have a lasting growth or maturity stage.
I’d say the most important phase for a product is the growth phase, this is post introduction stage where the product is already out there. The growth stage reflects the acceptability of the product from the audience, the value proposition agreeability and the willingness of the customers to want more.
Example;
After the launch of so fresh, customers not just bought into the idea of the need to eat right but also the product was made available to solve the issue of actually going to the local market to source for fruits that will be mixed into smoothies, parfait etc eventually so fresh carved a niche and they partner with gym centres where they also sell products. This also brought about a market segment where other competitors are also innovating as a result of so fresh venture creativity and acceptability.
Parfaits sell between N2000 and N 2500 and there is a ready market
To me, the development phase I will say is the most important phase. In the developing phase products are given all it takes to become their very best. One single mistake at this stage, can ruin the entire product life circle.
I think the introduction phase is the most important, how you present your product to the right costumer in the right conditions and circumstances sets the path for the rest of the product development iteration processes and life.
If I could catch the costumer intention to the importance of my product to solve a particular problem I am now ready to continue the improvement of the product according to the costumer appeal and feedback.
I have an example where I failed to catch the costumer attention because I was not specific about what problem I was trying to solve so I lost the interested costumer and got him lost in my product mission.
What would be the most important stage for me is the Introduction stage. I once had an idea to start a business where I could curate gift boxes the main product would be candles, scented candles and best believe I was pumped up by the idea but when I went into the “whys” and “what” “how” questionsI realized how quickly I would hit a decline even when I had the funds to go through with it.
What would be the most important stage for me is the Development stage. I once had an idea to start a business where I could curate gift boxes the main product would be candles, scented candles and best believe I was pumped up by the idea but when I went into the “whys” and “what” questions I realized how quickly I would hit a decline even when I had the funds to go through with it.
The most important stage in the product life cycle varies, but I think the Introduction Stage is the most crucial.
The introduction stage sets the foundation for the rest of the product’s life cycle. During this stage, the product is launched into the market for the first time, and the initial impression it makes on consumers can really impact its future success.
A real-world example that showcases the importance of the Introduction stage is the launch of the first iPhone by Apple, which revolutionised the smartphone industry. Apple invested heavily in marketing and created significant buzz and FOMO around the iPhone, which helped generate high demand and set the stage for its continued success in the other stages.
I think the introduction stage is the more important stage, even if the product is not well developed, the introduction stage into the market will give it an edge, the most important stage is the Growth stage.
I totally agree with you, if I got the costumer attention I have more chances to keep his attention alife based on his feedback.
For me, it is the maturity stage. Here’s why:
Highest Profitability: During maturity, product development and heavy marketing costs have subsided, yet sales remain strong. This offers the highest period of profitability for a successful product.
Also, how a product performs in the maturity stage indicates whether it has the potential to become a classic product with sustained demand, or if it will rapidly decline.
I put the maturity phase as the second to the introduction phase, because if the introduction of the product was not done correctly you will never reach the maturity phase.
All stages of a product are crucial, yet I hold the view that the maturity stage carries the utmost significance. In this phase, preventing entry into the decline stage becomes paramount. Therefore, it is essential to prioritize consumer satisfaction and conduct thorough due diligence to sustain the produc
I concur to this.
the most important stage can be interpreted as the growth stage. During the growth stage, the product experiences rapid sales growth as it gains market acceptance. This growth phase represents a period of significant opportunity for businesses to capitalize on increasing demand and expand their market share.
Success during the growth stage allows businesses to solidify their position in the market and establish themselves as leaders in their industry. Building a strong market presence during this stage can lead to long-term success and profitability.
While the introduction stage is crucial for launching a product and establishing its presence in the market, the growth stage represents the phase where businesses can capitalize on their initial success and drive significant expansion and profitability. Therefore, the growth stage can be considered the most important stage in the product life cycle from a strategic perspective.
I can see your perspective.
The growth stage represents a period of rapid sales growth, which can be very lucrative for companies. However, without a successful introduction stage to establish a strong market presence and generate initial interest, reaching the growth stage would be challenging.
I believe the Development stage is the most important stage because it is the stage where the end goal of the product is being created carefully and processes to achieve it is being carefully put out.
I believe that the development stages is important.
Because when a product is properly developed it easily get the attention of the consumers/ customers.
Example, in a fashion industry, when making a particular brand of clothes. What attracts the customer is the the drafting and the design on that particular brand of clothes.
So the development stages is very important so that when the brand is been introduced in the market there will be much demand in the market.
It’s is so difficult to point out to one stage as most important because, one can not happen without the other
Most eatery spot is one typical example.
At the introduction of the business, it was outstanding to everyone and everybody want to visit that eatery.
But, some areas that need to be maintained so dt customers will be kept and will want to come back was left porous and competitors swept them off and took over in many states.
So I agree with the view of Christina Bek larson.
From.
Agnes Moses
All the phases are important for the success of the product, every product will go through each of those phases but what will determine how long an organisation or business enjoys the benefit of a product will be determined by how proactive and how much effort they give at the growing phase of the product. Facebook is a good example of a product that has benefited from the proactiveness of its product management team. It is currently at the Maturity state and the team have managed to keep it going. Facebook has constantly adapted to the changing market and consumer needs. When Facebook started there was no market, now there is Facebook Market. Facebook has also been proactive in responding to its competitors. For example, Facebook now has video reels and other features to satisfy the needs of its customers who would otherwise turn to YouTube and others.
To me, all the stages are very important as the mistake made in any of the stages can only be discovered at the maturity stage which is crucial to the durability of the product in the market before it begins to decline.
Dangote company as a notable case study, started with the buying and selling of household necessities. The first product launched was Dangote cement which became known in Nigeria. The product was meticulously sustained at the growth level making the product continually remain in the market. At the maturity stage, the company started to divert into household commodities until nearly is there a Dangote product that was not purchased by a family. This delayed the decline stage or rather transposed into the growth of another product which in turn has given the company continuous recognition and consistent demand for its product.
From my observation, the growth stage is the most crucial for continuous satisfaction of the customer’s demand and expansion or name-building of the company to be forever relevant in the market.
The Introduction stage stands out for me amongst other stages in the PLC. Its forms the basis for other stages to thrive aside the development stage. it is a strategic stage as it positions the product for visibility and acceptance by its target market which in turn leads to the growth and increased sales experienced once the product has gained a strong market presence. The introduction stage is a never ending stage because as products are being rebranded, redesigned or upgraded, the announcement, advertisement, market research must be on going. For example I believe the Coca cola brand still retains its market presence despite several changes, product upgrade and popularity because they are constantly introducing their brand through advertisement and so much publicity.
I think growth stage is most important because that is where the products get to undergo changes and fits in for consumer taste before undergoing maturity and decline
The important stage for me is the development stage.A product well developed brings about the well needed growth and people’s interest in it.Using the social platforms,Whatsapp for example.With the new developments on the app,new features are added which makes it more interesting and unique.It also pique people’s interest and they will want to see more.
Although the introduction/development stage make a good cases as important stages in the product cycle, the Decline stage is a big factor that differentiates a big business from a short money making scheme.
The Decline stage allows the successes of the initial stages become even more unique. The ability to continuously extend a product life cycle beyond it’s expected endpoint requires even more hard work and creativity than required in other stages.
An example is Coca Cola, the ability to navigate the product over the years through decline periods has solidified the company to an almost eternal like level.
In my opinion, the “Development” is of most importance, the design of a product from the onset will eventually show how fortunate/unfortunate a product will decline.
For instance, during the development stage of “Apple” a lot of thoughtful innovation were considered as to enable the products of “Apple” relevant in the ‘future’ – which we are in today. Yes, I believe the view of growth stage also being a determinant factor, it comes with a lot room for improvement.
i believe the growth stage is very important, you rarely see a new product get into the market at the development stage in its perfect state but during the growth phase it must have passed thru rebranding and the current market realities giving room for a knowledge of what the decline state looks like.
I believe the most important stage is the develpmental stage,reason been that when a reasonable solution is not given to the problem , the product produced wont meet it needs and as a result of this a product might reach decline stage before reaching growth stage
In my opinion, the development stage is the most important in the product cycle. A product has to first be made to meet a need, so introducing a product that won’t meet a need will definitely not grow.
I think the development stage is the most important stage as products that are well built and will meet the consumer’s needs are what will bring profits and increase business growth on the long run. In the skin care industry for example, building the skin care products has to be done in a proper way, because if people do not need a particular product for their skin, they won’t purchase it when it’s developed even if it’s introduced to the world in a glorious way.
It’s a very tricky one in the sense that all stages are vital for a Product to be successful in the market.
However, personally, the “development stage” stood out for me. You won’t get to another stage in the Product life cycle without first developing a Product.
For example, X(formerly twitter) was already a Product before new features was introduced to competite effectively with other social media apps.
The introduction stage of the Product Life Cycle (PLC) is arguably the most crucial because it lays the foundation for a product’s entire lifecycle. This stage involves heavy investment in research, development, and marketing to introduce the product to consumers and establish a market presence. A prime example is the launch of Apple’s iPhone in 2007, which revolutionized the smartphone industry through effective marketing and innovative features. While other stages, like maturity, are important for sustaining market share and profitability, without a successful introduction stage, a product may not progress through the PLC.
I honestly feel the Growth Stage is the most important stage of a product life cycle because at this stage, old features can be removed and new features can be implemented. For instance, Facebook removed some old algorithms affecting their security checks and implemented new and stronger algorithms. They also added new features in their photos and video editing apps to meet up with trending social media styles. They keep growing.
In my own perspective, I think the growth period is more essential.
Wow! Every stages of the product’s life cycle are very important, however I’ll say that the introduction stage is the most important because this is the marketing and announcements stage if not properly done, it could delay nor bring about low turnout.
For example Lush hair is competing rigorously with expressions hair and what gave lush that lead is the robost marketing and introduction
For me I will say the development stage is the most important. If you get it right first time at the introduction stage and growth stage will be easy. sales of the product or finding its place in the market is dependent on the development stage. If the first stage of the product is done well it will take a long while before it gets to the decline point.
Decline Stage is the most important products life cycle. This is because at decline stage, the product manager must come up with a way to remain relevant in the market, competition in the market is increasing at a fast rate, the product manager has to be innovative for a particular product to still in the market.
Example is a case of cd and dvd. DVDs are capable of storing more data than the CDs thereby rendering cds to be in a decline stage
All stages are important in a product’s life cycle but I would say maturity stage is the most important because the maturity stage of the product life cycle is the most profitable stage, when products reach their peak sales and profits.
I believe that the Development stage is the most important stage in a Product’s lifecycle. The development stage sets the tone for the other stages in that, in this stage, based on your research, you get to identify a problem, come up with a solution, research and build a customer base that actually needs your solution and based on the information from the research, build the right product, the right way. Without these, no product will make it past the introduction stage and one will end up wasting time and resources building something nobody wants.
Also, I believe the Maturity stage come next after the development stage, because in this stage, the PM can monitor the progress of the product in the market especially with competitors involved, and use the data to make informed decisions that can keep the product in the market and out of the decline stage.
It’s a very tricky one in the sense that all stages are vital for a Product to be successful in the market.
However, personally, the “development stage” stood out for me. You won’t get to another stage in the Product life cycle without first developing a Product.
For example, X(formerly twitter) was already a Product before new features was introduced to competite effectively with other social media apps.
I totally agree with this in the sense that you must have done your market research, consumer wants and market needs, then proceeds to develop a Product that address all these needs.
Other stages of the PLC comes in when there’s a Product.
For me I think the Decline Stage is the most important products life cycle. This is because at this stage, the product manager has to think of way to remain relevant in the market. This is because the competition in the market is getting tough and for a product to remain relevant, the product manager has to be innovative. A typical example is the advent of Android Phones that sent the popular Nokia brand out of the Market. A lot of companies were switching to Android OS for their Phones but Nokia didn’t do that at the time and they got punished for that. So I think to remain in business, a product manager has to be sensitive when the product is at the decline stage and device means of staying relevant in the market.
The introduction phase is the most important in a product’s lifecycle. This phase determines how the target audience responds to the product; this will either lead to its fall before it even gets a chance to begin its journey or to the growth phase.
An example is Hypo Bleach’s entry into the market, which pulled its audience in one fell swoop. This led to its growth phase, which they had to maintain and groom.
I think introduction stage is the most important and most difficult stage of a product, because at the introduction stage you are trying to introduce a new product to the audience in a very competitive market, this stage requires advertisement and publicity, it can be very difficult convincing consumers to try a new product in an era we have so much competitions in the market. So my believe is that the introduction stage is the most important stage cos if a product is not properly introduced it would lead to failure of the product and won’t be able to get to growth or maturity stage.
My thoughts exactly. It is important to get it right from the beginning; if not, the growth phase may be a struggle if it ever gets there.
The introduction stage is the most important phase of the product life cycle. With the evolving technology, people tend to buy things based on reviews or ratings. It can be very difficult to convince individuals to buy a newly introduced product without reviews or rating even if the product is exactly what the consumers need.
I think development stage is very important because at that stage, you figure out who your costumers are, what they actually want and how to best satisfy the needs of your targeted costumers. By so doing you will be able to produce what will best suit and satisfy your costumers effectively.
I think the development stage is the most important stage, because that is where the whole analysis is been put together and this is where determine if customers which are the final consumer of the product fall in love with the product or not, if the developing stage fail the whole process fail too. A good product can actually market itself.
To me, I believe the most important stage in the product’s lifecycle is the Development stage. The development stage holds the key to success, as it’s where we tailor the product to customer needs and industry trends. This ensures adaptability throughout its lifecycle, allowing it to stay relevant even after reaching maturity.
All stages play a crucial role but I lean towards the i troduction stage more than any. I acquired skill on pastry making (my development stage). Introduction stage was where my attempt at making a name for myself as a Baker ended. Getting customers proved to be harder than i thought and the little I got, I worked more than the profit i was getting.
All the stages are very important. Just like the way Human is structured. Each part needs another. But, i strongly believe that the Development stage is highly essentially because if you do not develop a product? There would be nothing to introduce. For example, you want to make a dish wash. You would need to get your materials and then turn into a refined product (This process is Development) because you won’t be able to convince your buyer with just words of the mouth. When prospects are introduced to your product, then you tend to grow and become mature in managing your product.
introduction stage lays the foundation for a product’s success by shaping consumer perceptions, establishing market presence, and setting the stage for future growth and adaptation. Therefore, it’s crucial for companies to approach this stage with careful planning, innovation, and strategic execution.
Introduction stage of the iPhone exemplifies its importance in shaping consumer perceptions, establishing market presence, building momentum, and informing future product iterations. The iPhone’s successful introduction not only revolutionized the smartphone industry but also cemented Apple’s position as a leader in innovation and design.
I agreed to all the above response but for me, the most important stage is the ‘introduction stage”. As the high stakes period in product life cycle our actions and inactions goes a long way in affecting the PLC positively or negatively. Approach used in releasing the product to the market plays a major role on the acceptability of such product in the market place.
Product development stages are linear, and the stages rely on one another; however, I think the growth stage is very important. Here, your product is at a very delicate stage and would require more attention and innovation, product updates, UI/UX revamps, etc. Basically, you’re doing all you can to keep your product relevant to your users, attract more attention, and stay top of mind.
From my own understanding so far from the course, the growth stage is the most important life cycle of a product, it’s like giving birth to a new born baby, apart from the nourishment the baby derives from the mother when in the womb, he or she still needs more attention and nourishment when born to enhance is growth and development, a product manager would have done a proper customer base check, along with the teamwork before designing a product, but consistence follow-up will enchance the live long of the product.
For example, Meta that is own by Mark Zuckerberg, he uses a system of updating WhatsApp app every three months and it usually came with a new features, likewise for Facebook, Thread and Instagram…
Growth is very vital in every product life’s cycle…
I would say the introduction stage is crucial, as it assesses whether the product will gain wide acceptance, despite prior considerations, it does not ensure consumer acceptance. However, the decline stage is another important cycle, indicating the need for the product to revisit the development stage and make necessary adjustments due to change of demand technology and growth. An example is the introduction of Android into the phone market. Nokia, a leading product in the phone market, struggled to adapt. They opted to partner with Microsoft, which lacked the broad acceptance unlike Android phones. By the time they launched their Android product, another competitor had already seized and control the market.
I would say that the development stage of the product life cycle is the most important, this is because it is the research phase before a product is introduced to the marketplace. This is when companies bring in investors, develop prototypes, test product effectiveness, and strategize their launch.
Without this stage there will nothing to introduce to the market.
In my opinion, I do think the growth stage is the most important, due to the fact that after multiple fact checking, inquiries, cross-analysis there is no determining that the product would grow or essentially go ahead to beat its competitors for example A group of young minds developed a music streaming app called astrotwig prospect wise it poses to be acceptable as it contains features that would enable up amd coming artists to have their songs heard by an already waiting market…
But it hasn’t really lived up to expectations due to the existence of more powerful streaming platforms which suits the fancy of every artist.
the product development stage is the most important stage because if mistakes are made at this point, the product will flop in the market. at this stage, it is important that the needs of the user is the utmost priority so as to achieve a successful product development.
In my opinion, the introductory phase holds significant importance. I have observed instances where excellent products lacked a compelling introduction to the intended audience, resulting in a perception of disorganization and lack of structure. A well-executed introduction of your product holds the potential to facilitate progression through subsequent stages and foster growth. While the development stage is undoubtedly crucial, I believe that greater attention should be directed towards enhancing the introduction stage.
I think the most important stage is development because, without that, the product might not even reach the growth stage. You need to develop a great product. An example that comes to mind is the electric keke. It is a great idea, but the target market is not yet ready for that, as most do not have access to steady electricity, and the charging of the keke during business hours would result in downtime or loss on the side of the keke driver.
As a product manager, I believe every phase of a product’s journey is very important, but the development phase, where you’re shaping the product idea, understanding what customers want, doing market research, and planning how to launch it, is like laying down the foundation. Doing this part well can really set the tone for how the product performs in the long run.
To me it’s Development stage that is the important stage because the product is refined, heavily invested in before it’s been launched out
In my opinion, “Growth phase” is the most important stage of a product life cycle, because that’s where the market becomes competitive from other competitors and must be able to survive all of that before it moves to the maturity stage.
What a lesson!!
Thank you for this beautiful aspect of products, product management and it’s proactiveness through its life cycle – from the developmental stage to the decline.
For me, all stages are important as one cannot do without the other. I have reasons why I chose this answer and I will
analyze my response using two or three stages of a product’s life cycle.
One, developing a product should not be centered around making gain and profit. The reason for the emergence of the product should be to meet the needs of the world and solve societal problems. This stage is very important and should not be neglected. Once this is sorted, we can begin to hold dearly to the financial gain that comes with it’s emergence. Of course, the figures are worked on from the start, but, it should not get us carried away and have our attention shifted from the very important aspect – which is client satisfaction and image building.
Two, the introduction stage is that part where you have to get it right as it determines how high the product will fly or how far the product will go. Strategy is important, risk taking is essential and proactiveness is expedient as lacking any of these will bring about the failure of the product before it even begins. Whatever is done here will determine what happens at the growth stage.
Three, let’s talk about this stage before I give my conclusion. The Maturity stage. This stage for me is the self awareness stage and it requires your dedication and attentiveness. This is the stage where you do not get carried away with the profits made, the popularity of the product and it’s high demand. You do not need to wait for a product to fail before you carry out your research, check the market for upcoming products or competitions, do a self or product examination to see where things were done wrongly, collect data, get clients or customer feedback and to see how these mistakes can be converted to styles or designs rather than have it escalate to the point of failure. This stage is the stage where you get to leverage your popularity and maybe introduce if not new products but a continuous or better improved part of the product to keep your customers or clients satisfied and glued to you and your offerings.
For me, no stage is more important, all stages are important depending on how you view them and understand the roles they play to bring about success.
Thank you.
Well to me I think the most important stage is the Maturity stage because that’s where more work is expected to be put in because of the competition
We can use social media for an example
These days people use tik tok and instagram more and rarely use facebook so the team has to improve the quality and update it to the standard of the other apps so it can still remain at the level it was.
I think the growth stage is the most important because it is at that point the product manager will know if the product solved any problems efficiently and also creates room for improvement and iteration to prolong it before the maturity stage. I think this is why Apple brings out new product frequently so they can still maintain their Growth phase
The Growth phase; it is a very pivotal phase as there room for a lot of feedback, and the team has room to actively make improvements on the products and services to fit into the exact customer needs.
I think the development stage is the most important stage of a product life cycle. This is the foundation of the product for if everything goes well in the development stage, their is an increase chance the product will succeed and stand a test of time in the market. This stage births all other stage as its outcome highly influence highly influences every other stages outcomes.
I think the decline stage is the most important stage for me.
To me, I feel this is how and when you come to realization of how important your product is in the market well it’s doing in the market. In this stage, it’s an either you regret or you appreciate ever taking the step of building that product in the first place.
How you manage to keep your product in the market is very important.
Take X formerly known as Twitter for example, they try very hard to introduce new features and keep activities going on the app. Look at how making money on X as a user came in all of a sudden, no user would have thought of that from the beginning.
So I’ll say how well you keep your product relevant in the market and never let it fall is what’s important to me.
In order to succeed in one stage of life circle, all the five stages of life circle must be put into consideration.
I will say that the most important life circle, is the development stage.
Products must be developed to meet the needs of the customer. A product is said to be useful to the consumer, when it meets the needs and purpose of it’s manufacturing.
I think all the stages are important, because they all depend on each other somewhat. But one stage stands out for me and that is the development stage- I think it is paramount, because if this stage is properly managed well the product has a better chance of surviving through the other stages. When you understand you market, your consumer needs and the problem the product is looking to solve it becomes easier to always go back to the drawing board if there becomes a brick-wall, getting the development stage right also makes it easy and leaves the product open for innovations and expansions.
All stages are important, but the most paramount of them all is the development stage. Let’s take a good look at Tesla owned by Elon musk. Without proper exploration and innovation of electric cars to solve a given problem which is petroleum based car, His company will not grow, nor mature in the market space.
In my opinion, I feel the “growth” stage in a product lifecycle holds paramount importance as it signifies widespread market acceptance, revenue acceleration, and the establishment of a robust customer base. While each stage contributes to overall success, the growth phase not only validates a product’s viability but also propels it towards sustainable profitability, making it a pivotal driver of long-term success.
I think the development stage is the most important stage because in this stage we determine and consider the reasons for producing a particular goods and it’s in this stage we get suggestions and filter some,and we also consider the negatives of the ideas and future probably that can occur
I think the most important stage is the Development stage, The development stage in product development is a critical phase where the concept and ideas generated during the earlier stages, such as ideation and conceptualization, are transformed into a tangible product. This stage involves detailed planning, design, prototyping, and testing. Key activities include defining product specifications, creating design prototypes, engineering the product, and conducting various tests to ensure it meets quality standards and functional requirements. Collaboration among cross-functional teams, including designers, engineers, and marketers, is essential to align the product development process with market needs and organizational goals. The development stage also considers factors such as manufacturing processes, materials selection, and cost considerations. Success in this stage is crucial for the product’s overall viability and performance in subsequent stages of the product life cycle, including introduction, growth, maturity, and possibly decline. Effective communication, attention to detail, and a focus on innovation are key elements during the development stage to bring a well-conceived product to market successfully.
From my perspective I think all stage of a product life cycle is important, at each stage there has to be critical and deliberate plans made.
I think growth is the most important stage of the product Life cycle. While you have developed and introduced a product or services, you need to monitor if the growth is 100% in the positive direction. Yes the product might be growing,but is the growth making the organisation build strong brand loyalty and gain a community where the organisation can always rely on to produce more products or service for?
The declining stage of a product for me..
Each stage of a product’s life cycle plays a crucial role, but the most important stage can vary depending on factors such as industry, market dynamics, and consumer behavior. However, the introduction stage is often considered critical as it sets the foundation for the product’s success by establishing its presence in the market and shaping consumer perceptions. Additionally, effective product development and marketing strategies during this stage can significantly impact the product’s trajectory throughout its life cycle.
For me I think the introduction is the most important stage because this is when the product is release into the market, at this stage sales will be slow and demands new strategies to enable the product finds it’s place in the market for it to move rapidly into the growth stage. So i don’t think development is the most important stage, you can develop something great and if it doesn’t find it’s place in the market it will be a failed product.
The development stage is important because if the product does not meet the specificity of customers’ need it will surely struggle at the introduction stage and may die at that point.
However, considering the rate of change in our new world, I would say the maturity stage is the most important. My assertion is based on the fact that even after development of a product, you don’t stop developing it at each stage. So at maturity when it seems to have saturated the market, you will need loads of efforts to keep it affloat and prevent it from decline.
My references are Nokia and iPhone. Nokia did not change when time changed and it was overtaken by time and event. iPhone changes every year and it has remained relevant till date. So for me, the most critical and important stage is the maturity stage because even at that stage development does not stop.
iIn as well as i think all stages in the life cycle of a product is important. personally, i feel maturity phase is the most important phase because at this phase the product has passed its growth phase and sales will begin to drop. Organizations will do their best to make sure they keep it relevant and floating. They go back to their drawing board and figure out what to do to make ensure their products stay fresh and appealing to their consumers. A typical example is Apple iphones , in as much as the smartphone market is beginning to look saturated with the emergence of worthy competitors such as Samsung and Google pixel phones, apple still try their hardest to roll out new designs and features yearly, in order to appeal to their customers. which is one of the most important things ( appealing to consumers) so as to keep their product floating and also be able to withstand pressure from their competitors.
In my own humble Opinion , I feel the development Stage and the Maturity Stage is the most important, the development stage is when the product is about to be newly launched into the market and it is how a product is refined for the custormers interest and the Maturity Stage is keeping your Cutormers intact,making sure the market is saturated , also learning from the mistake you did in the introduction and growth Stage and bringing in a new strategy to keep the sales balanced for a Long term
The product development phase is the most important stage of the PLC. If the product developed doesn’t fit what the consumer wants or give the desired value, it will negatively affects the product’s performance in the remaining stages of its cycle.
I remember a product my previous company released to the market, it was not as durable as the one released before it… The sales performance was poor and majority of the customer did return the product, and demanded refunds.
I reckon that other stages are important, but for the development stage… It should meet consumer’s expectation at least.
All stages of product life cycle is very important ranging from development to introduction to growth to maturity to Decline. However the sustainability of that product in the face of market competition is embedded in the growth cycle the ability of that product to continue evolving is essential. Product needs to be reintroduced
At every given avenue just like DSTV although they have reached maturity stages the company constantly reintroduce their product always there by retaining old costumer while trying to get new user. So all stages of PLC is vital and should be reviewed at all times.
Well from my own perspective I think all stages are so important in the product life cycle let begins with the
Introduction stage
You don’t just put product out there without knowing ur own products fully well and how it could be of help to the consumers, some developers are money diving dey don’t even know about there product well all what they want is money at the end of the day the customers and the consumers got hijact by people who knows well about there own products and use a strategy to make them their own customers….
Secondly the Developing stage
When you develop and produce good product no how you won’t grow . That’s another basic thing and important, develop your workers so they can develop a good products one they were well developed thing will go smoothly.
Growth
This is very important any organization or products you put out there and it’s not growing it’s useless , you need to grow once you were able to introduce your product well out there and develop your products and workers well .
But some people relax once they are growing and started reducing their ingredients or their ways of doing their products and that makes things to backfire.
In everything you do consider your growth and don’t relent when you are growing keep putting in your best.
The maturity stage is the most important stage because if one has a good development plan and a very nice introduction to the market, then it starts growing, people start accepting it, then the maturity stage comes in where plans and actions and decisions are made to remain relevant in the market.
Example: influencers, some start up really well that they grow fast and be relevant in the market but they decline fast because they don’t device plan to remain wanted to the consumers and stay really long at the maturity stage.
Each perspective shared offers valuable insights into different aspects of the product life cycle (PLC). Let’s delve into each viewpoint:
Molly Campbell emphasizes the decline stage, highlighting the constant need for adaptation and innovation to prevent obsolescence. Her example of social media platforms like Facebook and Instagram evolving to compete with newer platforms like Snapchat and TikTok underscores the importance of adjusting strategies to meet changing consumer preferences.
Christina Bek Larsen takes a holistic view, arguing that each stage of the PLC is interconnected and vital. She points out the challenges of the growth stage, where maintaining relevance and managing expansion can be particularly demanding. Her perspective acknowledges the iterative nature of product development and the ongoing efforts required throughout the cycle.
Ibukun Oni emphasizes the importance of the development stage, stressing that without a well-designed product meeting customer needs, subsequent efforts in other stages may prove fruitless. His real-world example of prioritizing customer needs in the development of a digital product underscores the foundational role of understanding and addressing consumer demands.
Each viewpoint offers valuable insights, but I find Ibukun Oni’s perspective particularly resonant. Indeed, without a solid foundation in the development stage, efforts in other phases may struggle to achieve meaningful results. However, Molly Campbell and Christina Bek Larsen also bring important considerations to light, highlighting the ongoing challenges and interconnectedness inherent in managing products throughout their life cycles. Ultimately, the most important stage may vary depending on the specific context and goals of the product, but a comprehensive understanding of each phase is crucial for effective product management.
Let’s consider the automotive industry, focusing on the development and growth stages of a new electric vehicle (EV) model.
Development Stage:
Imagine a car manufacturer embarks on designing and developing a new electric vehicle to meet the growing demand for sustainable transportation solutions. During this stage, extensive market research is conducted to understand consumer preferences, technological advancements, and regulatory requirements. The development team works on creating prototypes, testing various components such as battery efficiency, range, safety features, and user experience. They collaborate closely with engineers, designers, and potential customers to ensure that the final product addresses key pain points and delivers value.
Real-life Example: Tesla Model 3 Development
Tesla’s development of the Model 3 exemplifies the importance of the development stage. With a focus on affordability and mass-market appeal, Tesla invested significant resources in designing a sleek, high-performance electric sedan. The company prioritized battery technology advancements, software integration, and production efficiency to deliver a compelling product that resonated with consumers worldwide.
Growth Stage:
After successfully launching the electric vehicle, the product enters the growth stage, characterized by rapid market acceptance and increasing sales. During this phase, the manufacturer scales up production, expands distribution channels, and invests in marketing and promotion to capitalize on growing demand. Continuous improvements based on customer feedback and technological innovations further enhance the product’s competitiveness and market penetration.
Real-life Example: Nissan Leaf Growth
Nissan’s Leaf, one of the earliest mass-produced electric vehicles, experienced significant growth after its initial launch. As consumer interest in electric mobility grew, Nissan expanded its production capacity and introduced enhancements such as increased battery range and improved charging infrastructure. Strategic partnerships with utilities and government incentives further accelerated the adoption of the Leaf, positioning it as a leading player in the EV market.
In this example, both the development and growth stages play pivotal roles in the success of an electric vehicle. Without thorough research, innovation, and customer-centric design in the development phase, the product may struggle to gain traction in the market. Similarly, effective execution during the growth stage is essential for capitalizing on emerging opportunities and establishing a strong foothold in the competitive automotive landscape.
In my opinion, the most important stage in the cycle is the introduction stage. This is because it sets the foundation for the success of a product. During this stage, a company launches a new product into the market, creates awareness, and builds initial customer interest. It’s crucial to make a strong first impression and establish a solid market position.
A real-world example of the importance of the introduction stage is the launch of the iPhone by Apple. When the iPhone was introduced, it revolutionized the smartphone industry and created a whole new market segment. Apple’s strategic marketing and innovative features during the introduction stage played a significant role in its long-term success.
I think all stages in the life cycle of a product is important because one stage cannot exist without the other, but I think development stage will be the most important stage because it determines what the customers or consumers need or want before it is been launched in the market place. So I do agree with the others that development stage is very important as well.
I think the development phase is the most important phase in a product’s life cycle. This is because solving the right problem for the right user will ultimately lead to a successful launch and growth. For example the INDRIVE APP is an app just like Uber/bolt used in ordering for a ride/taxi but in as much as bolt or Uber was already popular in the market space when it was launched. The indrive app came with a solution that the consumers were drawn to which is low cost. With the indrive app you can discuss the amount of money you would like to pay for a trip at the start of a trip. So regardless of traffic or distance, the price agreed upon is still what is paid unlike the Uber app that reads according to time. This made it easy to convince costumers to use and it is now thriving in the market space yielding profit to the organization. As far as people commute everyday, the app will still be very relevant.
I think the development phase is the most important phase in a product’s life cycle. This is because solving the right problem for the right user will ultimately lead to a successful launch and growth. For example the INDRIVE APP is an app just like Uber/bolt used in ordering for a ride/taxi but in as much as bolt or Uber was already popular in the market space when it was launched. The indrive app came with a solution that the consumers were drawn to which is high cost. With the indrive app you can discuss the amount of money you would like to pay for a trip at the start of a trip. So regardless of traffic or distance, the price agreed upon is still what is paid unlike the Uber app that reads according to time. This made it easy to convince costumers to use and it is now thriving in the market space yielding profit to the organization. As far as people commute everyday, the app will still be very relevant.
The Growth stage I think. Depending on how it’s handled, it would determine how long the product remains valuable and relevant. If there are appropriate tweaks here and there as competition arises, the product will be able to hold its own amidst a sea of similar products which will prevent it from phasing out faster.
Each stage plays a crucial role depending on various factors such as industry, market conditions, and the specific product itself. However, considering the overall significance, the introduction stage stands out as vital.
During the introduction stage, a product is launched into the market setting a foundation for the product’s entire life cycle and significantly impacts its future success. This is the stage to:
1. Make a first Impression
2. Establishing a strong market position (brand awareness)
3. Gain Market Share
4. Gather feedback and Iteration from customers for product improvement and adaptation to changing market demands.
Using Tesla as an example, the introduction of its electric vehicles (EVs) exemplifies the importance of this stage. When Tesla introduced its Model S in 2012, it marked a significant milestone for the automotive industry. During the introduction stage, Tesla focused on building brand awareness, showcasing the capabilities of its vehicles, and expanding its charging infrastructure to support the growing demand for electric mobility. The success of the Model S laid the groundwork for subsequent models like the Model 3 and Model Y, driving Tesla to become a dominant player in the EV market.
In summary, while every stage of a product’s life cycle is important, the introduction stage holds particular significance as it sets the trajectory for the product’s success and establishes the foundation for future growth and adaptation.
From my point of view, the important stage in a product life cycle is the development and introduction stage. So from the development stage you need to know the efficiency your product is and how effective it is to your end user. While in the introduction stage you need to also know the type of strategy to get the attention of your user.
To me the most important stage in a product’s life cycle is when it’s first introduced to the market. This is because it sets the tone for how well the product will do. Companies need to make a big impact when they introduce a product to make people interested in buying it. For example, when Apple launched the first iPhone, they made sure people knew how special it was with its touch screen and apps. If the introduction goes well, it can lead to the product becoming really popular and successful.
One cap doesn’t fit all but I think the introduction phase is the most important as there is need to get the right strategy to grow in the market. During this phase, a lot of investment, awareness and persuasive marketing goes into it. This phase sets the impression consumers will have of the brand. To get other phase right, introduction phase which is the semi foundation phase must be near perfect. Looking at it from an angle of innovation, I would say the growth stage is the most important as there is need for constant product improvement due to competition and customer preferences. We need to continuously know what the market says and what our competitors are doing better to ensure we offer a product that keeps us in the market.
I think the development stage is the most critical and important stage because a good product will surely attract customers in the long run. So once a company misses it at the development stage it will affect its recipient in the market. So product must be critically and carefully developed before introduction in the market.
The development stage of a product lifecycle is crucial for every product. The foundation of a house will determine how long a house will stand, how another part of the house will be built, and if there will be no flaws in the building moving forward, a product without issue in the development stage will do well and it will not affect the decline stage because the product will do well.
One example of a popular product that faced challenges in its development stage is the Samsung Galaxy Note 7. The Galaxy Note 7 was a flagship smartphone released in 2016. It gained attention for its large display, powerful features, and the inclusion of a stylus. However, the product experienced a significant setback during its development stage.
The Galaxy Note 7 faced issues with its battery, leading to incidents of the devices catching fire or exploding. This flaw in the development stage resulted in a massive recall of the product, causing a significant financial loss for Samsung and damaging its reputation. The incident highlighted the importance of rigorous testing and quality control in the development of electronic devices and the potential consequences of overlooking such crucial aspects in a product’s lifecycle.-CHATGPT
Every stage of the product life cycle is important, but the stage that stands out for me is the maturity stage. This is largely because this is the stage where the market for any product becomes saturated due to increasing competitors, weakening purchasing power, and technology. Therefore, staying in business and staying relevant become key goals for any establishment; it is sometimes the beginning of the end for a product. Yahoo versus Google demonstrates how competition can threaten and affect a product’s maturity stage. Another simple example is how the invention of gunpowder rendered spears, bows, and arrows obsolete. Albeit, I agree with Christina Bek Larson that staying relevant in the growth stage is challenging, but it is more challenging in the maturity stage than in the growth stage, in my opinion.
I feel the introduction stage is the most important in the PLC. The PM on identifying and analysing the performance of the product in the market can implore strategies to further keep the product relevant for the long term.
Chinedu Ofielu.
For me I think the Development stage is indeed the most important stage. In this stage the PM considers the fact that there are alot of products such as the one being created or better still other products such as the one the PM is creating will be made, thereby bringing the idea of a form of competition. Then it therefore calls for a thorough evaluation of the product before it is being released into the market space, just so it has what makes it stand out from other products in the market space. Take for instance in the FMCG industry, beverages such as Milo, Ovaltine, Bournvita etc are in the market space today, but then Milo stands ahead of them even though it is the youngest brand amongst the three brands, yet Milo has more attention and market value compared to others because the company took its time to evaluate and re-evaluate the possible questions that needed the rights answers for that product to stand out.
I consider the development stage as most crucial because it involves the research phase before a product is introduced to the market place. At this stage companies bring in investors, develop prototypes, test product effectiveness, and strategize launch. If this is not properly done every other stage becomes a failure.
I had to choose one as the most important, it would be the introduction stage. This is the stage where the product is first introduced to the market, and it’s crucial to get it right. A successful introduction can set the stage for long-term success, while a failed introduction can doom a product from the start. It’s also important to track customer feedback during this stage, so you can make necessary changes and improve the product over time.
I consider the the introduction stage as the most critical stage,it comprises unique elements such as brainstorming, preliminary or detailed design, prototyping, and production. Additionally, most products at this stage experience meager sales resulting in possible losses.
TOBI OJETAYO.
For me the introduction stage is one of the very important stage that one must look at for in any starting of any business and looking at it from this points development stage that ibunkun oni talk about can also be like the kind of mismanagement of products strategy why because when you are trying put in a business or you have something , what are the mistakes that the person has learned, what are the things to avoid in starting a business or managing a business it’s very important Sir so for me introduction stage is very important and IBUKUN ONI development stage of which I look at it kind of critically is not something that we should do first if we have to manage the business one of the very Instituted plan that is very important and can create change is introduction stage
The most important stage in a product’s life cycle can vary depending on the industry, product type, and market conditions. However, one crucial stage that often stands out is the introduction or launch phase.
During the introduction stage, a product is first introduced to the market, and initial consumer interest and awareness are established. This stage sets the tone for the product’s entire life cycle, as it lays the foundation for future growth and success. Effective marketing, distribution, and positioning strategies during this phase can significantly impact the product’s trajectory.
One real-life example of the importance of the introduction stage is the launch of Apple’s iPhone in 2007. The introduction of the iPhone revolutionized the smartphone industry and transformed the way people communicate, work, and access information. Apple’s strategic marketing, innovative design, and ecosystem integration during the introduction stage created immense buzz and anticipation among consumers. This initial momentum propelled the iPhone to become one of the most iconic and successful products in history.
By focusing on the introduction stage and effectively capturing consumers’ attention and loyalty early on, companies can establish a strong foothold in the market and pave the way for sustained growth and success throughout the product’s life cycle.
I believe the development stage is the most important stage in the Product Life Cycle because if the product does not specifically meet what the audience want in a specific way, a unique introduction may drive in customers or users but retaining them becomes an issue due to wrong product development. Taking Thread develop by Facebook for example, it brought in a lot of users who couldn’t keep them due to lack of uniqueness in the product design
The introduction stage is very crucial in my opinion, It sets the tone for market acceptance and influences subsequent stages in the cycle.
I believe the Development stage is the most important stage in the product life cycle. If a product is not properly developed, or it does not solve the problem for which it was developed, or the product is just a figment of the innovator’s predisposition and bias, the product might not get launched, or its apparent defect or shortcoming might be obvious at the introduction stage.
An example i would want to cite is the E-naira, which apparently was not developed to solve any problem but was an innovator’s predisposition and bias (CBN) to match up/replace cryptocurrency transactions in Nigeria
I think the most important phase is the development phase of a product.
When companies develop products, they must remember that the market is constantly changing and consumer preferences are also changing.
It will be wrong to develop a product for 2025, with the preferences of 1925. consumers prefer automation to manual, Speed to delay, Self-service to home service, and as such a lot of iteration needs to go to the product development.
For me, Product Development is a continuous game and should be seen as such. Example, Nokia stopped developing their phones, until Samsung and other smartphones came in and took the market.
The market is fierce, and customers will always go for a product that meets their current and immediate needs.
I will pick the Development stage most important stage.
I agree with Ibukun Oni that if the right product is not developed to meet the needs of customers, then efforts during the other stages become futile.
Though a cycle, I see the development stage as the foundation on which others stand and if it is not gotten right, the entire process will become futile.
The cyclical nature of a product’s life cycle makes pinpointing a “most important” stage difficult, each phase presents unique challenges and opportunities for product managers.
Each stage builds upon the previous one, with learnings and optimizations carrying forward.
From my perspective I perceive the maturity stage is the most important stage of the product life cycle because of the following:
– Peak Profits: This stage often yields the highest profits due to established market share, optimized production, and brand recognition. Companies leverage these profits to fund future endeavors.
– Efficiency and Stability: Processes are streamlined, and the product is well-understood, leading to operational efficiency and predictable cash flow.
– Brand Loyalty and Advocacy: Customers are familiar and often loyal, creating a strong foundation for future offerings.
For example COCA-COLA is currently experiencing its Maturity stage and the Development, Introduction and Growth phase of the product are merely stories to current executives who have the responsibility of consistently improving its brand recognition, brand loyalty and profits.
Like they say it easy to make money but growing generational wealth is difficult.
The peak goal of every product should be to extend the Maturity period as long as possible.
The growth stage is the most important stage in product life cycle, At this stage of product life cycle management, companies are able to understand how consumers will respond to the product. Precisely, the idea is to create a huge demand. Growth – In the growth stage, consumers start to take action. They buy the product, the product becomes popular and results in increased sales.
I feel the growth stage is the most crucial stage in the product life cycle. This stage in the life cycle of a product determines how long the product remains relevant to customers, so if, as a product manager, you decide to keep improving the quality and growth of the product, the maturity stage might not come soon.
I believe the development stage is the most important stage because if your product does not solve a problem or solve it effectively, it will be hard for the product to pass the growth stage and if it pass the growth stage it will go t maturity and fall into decline much faster because competition will kill it in the market. So for a product to be effect, it must solve a problem. I am saying this based on the development of the app WhatsApp. It came about when facebook and other applications was on but the developers saw a gap and entered. Solved the problem and did it effectively and till this time no competition in the market can stand with it.
It is difficult to identify the “most important” stage of the product life cycle because each stage is vital to the success of the product in its own right. But I think there’s a good cause to be made for the Development stage to be in first place. This is the reason why:
Basis for Future Success: A product’s complete path is determined at the development stage. This is the stage of identification and refinement of the target audience, value proposition, and core concept.
Thoughtful preparation now equals easier sailing in the next phases. Marketing techniques may help a badly designed or inadequately tested product become temporarily successful, but it will eventually find it difficult to remain viable.
Although development requires investment, it is far less expensive than expanding production and and marketing for a flawed product. Identifying and addressing potential issues early saves resources and reduces the risk of significant losses later.
In contrast,Patagonia Black Hole duffel bag; This iconic bag has remained popular for decades, despite facing competition from numerous brands. Patagonia’s commitment to using high-quality materials, prioritizing durability and sustainability, and continuously refining the design based on user feedback during development has cemented its success.
It is hard to pick a particular stage as the most important stage, as each stage comprises different functions and responsibilities by the manager. As a cycle, it may keep shifting from one stage to another. However, the most important stage may be based on the type of product and the industry market it falls under. Development and Introduction stages are vital, in my opinion, as they greatly determine the growth of the product in the market.
Each stage in the cycle is interconnected, rendering none more crucial than the others. Success in the development phase significantly boosts the likelihood of excelling in subsequent stages. Conversely, if there are missteps in the initial stage, adapting in later stages becomes challenging.
The stage that proves definitive to me is the first stage of the Product Life Cycle; Development stage.
A lot of steps and processes go into the stage to determine that the right product is made for the consumer. It requires market research, data analytics and customer feedback to make sure that the product is solving the right problem and that the solution is efficient and consumer experience is utmost.
If any fundamentals are missed in the development stage, the product can hardly meet the company’s goals in the other life cycles which is consequently a Product fail.
I would say the stage that proves most crucial is the introduction stage. Most products go through rigorous development, the catch in all these is how consumers would react to the product once it is introduced. Most successful edible products like Bigi carbonated drinks could only decide their next course of action after their introduction. This is where authentic and valuable data can be collected from the end users, all in order to guide the next course of action.
Every stage is very important, although I think the most critical stage is the maturity stage in the cycle. This is the most important one to extend from a financial point of view because this is the period when the product is at its most profitable and approaching its decline, so as a PM or organization, you should have a solid plan to counter the decline stage. Avoid getting carried away with returns and profits.
I agree.
In my opinion the most important stage is the development stage, this is because it sets the tone for the other stages. At the development stage research is carried out, designs and mock-ups are drafted, then developers develop the product is tested before introduction. When there is proper research by the Product manager, and the designers and developers are properly informed to create EXACTLY what the targeted customers want, the other stages of development will proceed seamlessly.
The Growth Stage: My Take!
There’s no move towards production of any form of product that’s not profit driven. On this note, right from conception efforts must have been made to suit the plans made ahead of a product.
During the growth stage, consumers have accepted the product in the market and customers are beginning to truly buy in. That means demand and profits are growing, hopefully at a steadily rapid pace. Product managers need to be sensitive when it get to this point as it has the tendency to determine when a product will sustain it’s impact in the market space, or move to maturity and gradually decline.
Being observant at this stage gives insight and feedback that will either improve or engender rebranding.
Development: to me this aspect is the most important stage of a product. Lot of resources are put in the entire production of a product, and development is the first step in producing a product, at this stage research would be made, if the product will be helpful to it user, on how the product can solve problems. to me development is the foundation of every product. They won’t be introduction, growth, maturity nor decline with out development
I think that the most important stage in the product life cycle is the “growth” stage. During this stage, the product is becoming more popular and is experiencing increased sales. This is the stage where companies can really build momentum and expand their reach. Plus, the “growth” stage is where companies can start to generate profits and reinvest them into further product development.
As I was saying, the profits generated from the “growth” stage of the iPhone’s life cycle allowed Apple to invest in further product development. This led to the creation of the iPad and Apple Watch, which have both been hugely successful products in their own right. So, the “growth” stage was clearly crucial for Apple’s success and continued innovation.
I think the most important stage is the Maturity stage. The more time a product spends at the maturity the more the relevance in the market and this grossly depends on inputs by the PM.
Secondly, the data from this stage helps a company make changes on the mistakes made in the introduction and growth stage. So this stage serves as a controls to the whole product life cycle
I would say the Development stage is the most important PLC because if a product is not well developed, its existence in the market will be short-lived. It may not also meet the demands of the consumer. This is the stage where research and analysis, planning and execution is discussed. At this stage too, it’s expected that the innovator gains significant feedback from potential users so as to introduce a product which is relevant to the consumers to the market.
Personally, I’d say the most important stage is the growth stage. This is the stae where the product is trying to gain the right audience and if all fails at this stage, the rest of the stage will automatically fail
It’s a tough one to point out the most important stage in the PLC because every stage is a s important as the other. Although I would say that as a product manager, preference should be given to the grouth/maturity stage because this is the stage after which a product would fizzle out or become obsolete if care is not taken. The behaviour of the product should be carefully observed in the market and from customer feedback so as to make adjustments and modifications from the development stage if need be. In a nutshell, the product manager should prevent the product from declining by carefully observing it’s growth and maturity phase, making modification on the product to Keep it relevant in the market. For example Xbox and playstation have been making a alot of modifications to keep their consoles relevant and preferred to their users. From Xbox 1 to Xbox 2 to Xbox 360 etc. From playstation 1 to playstation 2 Upto playstation 5. The playstation moved from 1 to 5 packed with modifications to make it relevant, Up to date and prevent from declining.
As it is a whole cycle, It is safe to say all stages are very important, because one stage doesn’t exist without the previous one, each stage has a specific requirement from the Product Manager. With evolving needs in mind, I will say the development stage is the most important stage. Building a beatiful product that does not solve the core problem, or has a low value will affect all other stages.
I feel the Introduction stage as the most important stage of the cycle. Being the stage where the product is released into the market, it is regarded as a high-stakes period in a product’s life cycle.
The strategies employed at this stage will determine the initial success of the product in the market and can also determine how long it spends before moving to the growth phase.
take 2GO for example the introduction was not wide spread like other platforms like Facebook and twitter(now X), likewise BBN the platform introduction was too restricted which made it easily phased out when WhatsApp was introduced which has a wider reach.
I think the decline stage is an important stage of PLC. It is at this stage that a company’s product returns to the growth stage of permanently goes to decline. Take for instance, Nokia during their decline could no longer meet up with users needs. if they had found out or figure out market trends and adapt their product to the new normal. they would have still remained in the Market today.
At the decline stage, you find out why your product is declining, find out why the loss of interest from your customers, find out what is missing, find out what your competitors are doing differently and then implement. This is where you need to meet your users.
According to the lesson note and my own understanding I think all the PLC is important in PM because they all work hand in hand if there is a flop in the first stage of PLC which is the DEVELOPMENT they their will be a problem with the rest in short if the DEVELOPMENT stage is well addressed then GROWTH stage is very important because it helps to determine how valuable products is to win the desires of the consumers
From my understanding though;
I think Development stage is the most important state in any product lifecycle. As it involves the design stage of the product where it is built to meet with the needs of the market demand, product is being invested on to meet with the needs as any shortcoming at this stage will witness a longer introduction stage and sharp decline stage.
As in the case of 2go that had a poor development it experienced a very quick decline unlike Whatsapp.
I totally agree with with fishway.
IMO in the case of 2go. Development, Introduction and Growth was there. But the maturity and decline stage was where they struggled to evolve and keep up with the competition.
For me personally, I think each stage plays a crucial role in a product’s life cycle. I agree with Molly Campbell and Peter Scheinsohn. Introduction stage is particularly important for establishing a foothold in the market. Product like the Google Pixel for example, Great phone IMO but I feel the introduction to the market wasn’t as strong to push forward the growth of the product compared to its competition, Samsung and iPhone. While the maturity stage requires strategic adaptations to maintain relevance and competitiveness in the marketplace. In this case YouTube, and its competition TikTok has been on the rise for the past few years now because of which YouTube added the shorts feature to its platform. Personally, I don’t use TikTok but because of the shorts feature added to YouTube I spend more time than I should on there. So, I think personally the maturity stage is most important.
I agree with Peter Scheinsohn that the introduction stage has to be the most difficult stage. No matter how amazing your product is,if you can’t properly communicate to people what it is for and what problem it is solving. You would have a hard time with the rest phase. Just as statistics shows that most business don’t usually make it through the introduction stage if not done properly.
I think the ‘Development Stage’ is the most important as the development of the product determines how the target market reacts or accepts the product.
I think the development stage is the most critical stage of a product. Before launching or introducing my smoked catfish to the market. I have to determine how it will look like in term of taste, texture and sizes. Without going through this phase of development the product is bound to fail in the market
All stages are essential. However, development is vital; it is the foundation for every product. How you develop your products determines the success of other stages if carefully implemented. A product can’t exist without going through a successful development stage.
I feel all stages are as important. The next stage won’t be happening if the previous stage was not planned out well. The PM needs to put a lot of effort into each stage with competition in mind. The maturity seems a little tricky as this is where the PM needs to keep understanding the evolving needs of the customer in mind so as to keep the product for as long as posible.
I think the most important of the stages is the Introduction stage. How well you introduce your product to the audience matter a lot. We are talking about a new product that was just developed for it to be accepted by majority will involve a lot of Feasibility research, type of audience, level of acceptability and proper awareness and product knowledge. If it fails at this stage then every other stages automatically fails. Malik Adenaya
The most crucial stage in the product life cycle can vary depending on the product and industry. However, I will consider the introduction stage as being significant. This is when a product is launched, and marketing efforts play a crucial role in creating awareness and establishing a market presence. Success at this stage can set the tone for the product’s entire life cycle.
The most important stage is the development stage because the initial acceptance of the product can determine its long time success.
This is particularly true of the Maturity phase. This is the most important one to extend from a financial point of view because this is the period when the product is at its most profitable.
The most important stage is the development stage because the initial acceptance of the product can determine its long time success and also creating awareness and educating consumers about the product’s feature are very essential during this stage ,this can really pave a wave for future growth and acceptof the product by the consumers.
The most important stage of a product life cycle is development. To end well, one must begin well. It’s like building a house, the foundation must be solid for the building to be durable. This, before launching a product in the market, you should have done all the it takes to guarantee the success of the product through proper investment, refining, carryout a proper SWOT analysis of the product, consider the “Five Common Errors” before launching.
In my opinion, the most important stage in a product’s life cycle is the introduction stage. It’s the first impression, where the product is launched and marketed to create awareness and generate interest. It sets the foundation for the product’s success. Also another important stage in a product’s life cycle would be the growth stage. This is when the product starts gaining traction and its sales and market share increase. It’s an exciting phase where the product’s popularity grows and it establishes a strong position in the market. What are your thoughts on this?
I would say growth, is most important step in the PLC. Even, if product was properly developed and introduced, but the growth is not properly maintained it will significantly influence its maturity stage. Let’s look at “thread app” by meta teams, they properly introduced the product but they couldn’t maintain the growth. However, i agree that proper development stage and growth stage are very important.
Every stage in the project life cycle is so important but I will choose the Growth stage as the most important because no matter how well a product was developed to solve the needs of the supposed users at a time. People are dynamic beings and there will always be room to serve them better so being aware of this just makes you as a product manager always look for ways to serve your user’s problem by updating the product thereby serving your users better and even serving more people other than the development stage which doesn’t entirely give a final solution to upcoming needs that may arise. No matter how great the product is there will still be a need to update it because human beings’ needs are ever-changing, so the growth lifecycle is the most important stage for me.
All of the product life cycle are very important in my opinion. However, the one I’d say is mostly important would be the maturity cycle. Using BlackBerry and Android phones as an example:
BlackBerry was unique because of its bbn chatting app and at first, it was the only chatting app that everyone wanted to be on, not even WhatsApp could compete back then. But the makers decided to sell that one feature that makes the blackberry phones so unique and it became possible for people to have bbm on their androids something which only blackberry had back then. That was the beginning of the downfall for blackberry and its makers. Now, blackberry phones are no longer existing whilst android phones are still very much around. Maturity is a very crucial stage in the life of a product but other stages are just as important
In my opinion, the development stage is more important. If a product is well developed, introducing it into the market becomes easier because the product manager will not have too much convincing to do, the product’s quality will speak for itself and the growth level will increases. A well developed product makes the job easier for the other stages.
I believe the development is the most important cos it has all the backings to make the product excel
Every stage has it uniqueness and it is a determinant for the succeeding stage.
Maturity is the engine of PM, 2go vs WhatsApp.
2go got the best of the first 3 stages and lacked in the Maturity stage which led to a gross decline of it usage as a Social Media App, WhatsApp got the average sailing of the first three stages, in it Maturity level, the PMs had to collate data and analyse and made it better.
Now an average man can use WhatsApp conveniently without much introduction and observation. 2go as Social Media App is long forgotten. Though a decline in WhatsApp began to ensure and a great competitor was in the market, WhatsApp had to restrategize and boom it’s still booming and it relevance in the society is second to none.
Development is critical stage as ideas cannot be stored (in the brain) if not recorded (verbal or written) or worked upon immediately it’s lost. One can develop a thing have a bad introduction and gets no growth. Management as someone will say is “getting things done through others”. This is crucial cause in maturity expansion and longevity is prone to be seen. As such, one beats someone who is expectant and is prepared for whatever opportunity/situation that comes his/her way.
Maturity is most important yet dependant on the other determinants.
For me the development stage is the most important. It is the bed on which the success of the product lies. This is the stage where you involve in industry research to know what is obtainable and how viable your product will be in satisfying your customers
I believe the introduction stage is the most important because it’s acceptance by end-users is critical to it’s existence as a successful product.
All stages are very important but the most is the development stage.
Because having an idea will die as an idea and it will not come to life, hence other stages from introduction to decline will not be known.
Take the Tesla model as a good case study, if Elon Musk just had the idea and no development then it wouldn’t have been in existence, as so no growth or maturity.
So I feel development is the most important
Introduction stage is the most important stage that is why it is regarded as high stakes period. That is when the reality sets in, the moment you will see your real life competitors. Sales will be low and you have to work hard to build your demand gradually.
From my perception, Development stage is the most important state in any product lifecycle. As it involves the design stage of the product where it is built to meet with the needs of the market demand, product is being invested on to meet with the needs as any shortcoming at this stage will witness a longer introduction stage and sharp decline stage. Tesla cyber truck invested hugely in its design and currently witnessing a fast growth stage and short introduction stage
The development stage is most important even tho other stage as also as important as the development stage but when you talking of a product, as we are being taught here, any product you want to bring in to the market must have to be a product that will solve a particular problem or numbers of problems in other to generate or draw in sale and more customers to the product.
So the development stage determines if the product would solve a problem or not.
I think it’s the maturity stage because at that point the product has reached the targeted consumers. Also being about to redefine or reintroduce new products to the consumers market from research to avoid the product to reach the decline stage.
Not taking the fact that the introduction stage sets the tone for product success and market presence
It is difficult to actually choose one as every stage matters and is important, but I think the Introduction stage is top for me. This stage can make or mar the product, stakes are high and there may be an outright rejection if the introduction to the market isn’t properly done.
Introduction stage is the most important stage that is why it is regarded as high stakes period. That is when the reality sets in, the moment you will see your real life competitors. Sales will be low and you have to work hard to build your demand gradually.
To me I think the development stage is the most important stage and reason being that it is the basis for all other stages or I would rather say it is the bed rock or foundation for all other stages.
If the foundation the (development stage)of a product is faulty or poorly developed, the result will reflect at every other stage which can be disastrous to the general outcome of the product.
For instance, a mobile phone newly produced with faulty internal memory will probably not stand a chance at the growth stage after introduction before declining because information has been spread in the market place of this fault and this will affect sales significantly because user needs a functioning internal memory to enjoy all the features of a mobile phone and before you know it will face-out completely.
This is a dead on arrival case.
Development stage cannot be overemphasized or underrated.
I think the most important stage is gathering the data to solve the issue which is the birth of a product else the development stage.
I will take all stages to be very important as the proper execution of each stage births the next stage properly.
Take the fashion industry for example, you have to develop an idea/style/concept; introduce it to your targeted market audience; take necessary actions to ensure growth and sustainability; watch it mature properly; and finally, learn necessary lessons/ corrections to be either adopted in next development or to do away with the product entirely.
To me, the introduction stage is the most important as it’s the foundation that will determine the product’s success.
This stage is important for establishing a product’s presence and building momentum in the market.
Each stage is important but the vital stage is the Growth Stage, it helps to know how efficient the Development and Introduction stage is thereby giving an insight on what will be the output of the maturity and decline stage
Every stage is important in PLC. The development stage needs the introduction stage and growth stage to remain relevant in the market place and to avoid reaching the decline stage. However, I would consider the introduction stage as the most crucial stage.
After knowing what the consumers need/want, the product would then be introduced to the market. At this point, the marketing strategies and awareness level determines the longitivity and success of the product.
For example, when a smartphone is produced, there are usually advertisement on various platforms introducing the product to the users. From the feedbacks received, this stage will determine if the product will remain in the market for a long time or not.
In my opinion, I would say the most important stage in a product’s life cycle is the introduction stage. This stage sets the foundation for the product’s success and helps create awareness and interest among consumers.
1. Growth isn’t just a phase; it’s the heartbeat of the cycle.
2. Development is crucial, but growth is where the magic happens. It’s all about the value you bring to the table. If you can’t top that, you’ll always have a seat at the consumer’s table.
3. Let’s take 9mobile (formerly Etisalat) as a case study. They nailed the introduction, sure, but stumbled when it came to growth. Without a solid strategy, they found themselves stuck in neutral, while competitors zoomed ahead.
4. Christina Bek Larsen hit the nail on the head: evolve or dissolve. Molly Campbell echoes the sentiment, highlighting the pivotal role of growth in staying relevant amidst shifting consumer needs.
I agree that the most important stage in product life cycle (PLC) is development. This is the stage that determines a high percentage of the product’s success. It is the foundation of the PLC. A good product that solves the users problem and beneficial to the users, will bring growth and with continuous innovation and strategic plans, the product is not likely to get to the decline stage. In summary, I can say that the Development stage is critical in the PLC. It’s the bedrock. For example, the online shopping stores has not declined today, this is so because it’s solving the problems of users who want to shop from their home and that is why it has grown and matured but not declining.
All stages are important but In my opinion, i feel the Development stage is the most Important stage in product life cycle
Nothing can be done if a product is not properly developed because to develop you need to gather accurate Data ,know your targeted user and know the size of the market you’re development for .
One mistake in the development stage can affect the whole product
I think all stages are important because a product can’t thrive or do well if one phase is neglected. But,the most important phase for me,is the development phase.
Every product is design to trend hence maximising profit, these must have thought of before starting PLC, from development to introduction. Growth I believe is the most important stage of PLC cos every product owner would love to see this last as long as possible. I agree with Christina Larsen.
In my opinion, the introduction stage is most important as this is the stage where the product is launched to its target audience. If not carried out properly even with a good development stage, it could cause a terrible constrain for the product. This will affect its growth considering the fact that the customers/clients do not have a better understanding of the usage and benefits of the product. In turn, the maturity stage suffers leading to a quick decline of the product.
I would say the introduction stage is the most crucial stage. At this stage, a product should target how to hit the market in a strong way. Any product that successfully scale through this phase will most likely excel however, not without continuous innovation, improvement and feedback loop. I would cite Opay payment app as an example, after the challenge they faced with their logistics business in Lagos state, they focused on building a payment solution and came strong into the market. They have since then keep improving on their product based on customers requirements.
I would say each stages are very important in PLC. They all need each other to surpass every stage for effective growth. But what I will consider very crucial is the maturity stage.
I want to use our very favorable 2go of back in the days for instance, it was developed and had met the needs at that time what WhatsApp has met in today’s world, I bet the developers never thought of what will become the life circle of that product, or perhaps they did very little about growing the product into the a level of maturity.
Maybe it was bad marketing strategies, or some poor production and sustainability decisions.
In the end they couldn’t meet up the high demand from its consumers after it launch stage which then led to its extinction.
I personally would have thought it to be wise to sell of the product to better developers that had what it takes to sustain the product, it’s services and also meet demands of it consumers while developing it through all it PLC stages.
I think the most important stage in a product’s life cycle is the introduction stage. This is the stage where there’s room for trials, errors and corrections. Which is why a company should be sure about a product’s viability in the market before launching it into the market.
Even though the PLC goes through several stages, I believe the maturity stage to be the most crucial since it has already experienced the growth stage, which includes going public and receiving feedback. This will assist in determining how to better realign the product during the mature period and keep it from going into decline.
For instance, at the maturity stage of an e-learning platform, the company only handles the result management process. However, it is clear that customers want more capabilities, so the company adds products like attendance tracking and school fee payment tracking, among others, which help to move the product back to the growth stage.
I believe the Introduction stage to be the most important stage because if a good strategy is not put in place to ensure that a product is well accepted to the public the product will not make it to growth or maturity stage not to talk of decline stage. A good product manager should coordinate all the team member to ensure that the product is properly introduce to the market with the help of campaign, if possible a trial or tested product can be made available to prospective customers in order boost their chance of survival in the market.
I would say each stages are very important in PLC. They all need each other to surpass every stage for effective growth. But what I will consider very crucial is the maturity stage.
I want to use our very favorable 2go for instance, it was developed and had met the needs that that WhatsApp has met in today’s world, I bet the developers has not thought of what will become the life circle of that product, or perhaps they did very little about growing the product into the a level of maturity. Maybe it was marketing strategies where not to meet up the high demand from its consumers which then led to its extinction.
Great
The most important stage of a product is development stage because a solid foundation for a product determines how long it would last
The most important stage is the development stage.
This stage will determine how well other stages will last… It will determine how soon a product would get to decline so fast.
The important stage that came to my mind is Growth and maturity, it means the product has been accepted. Sales stabilize and competition intensifies.
In as much as all stages are important, the development stage is the most important stage. This is the stage where thorough research has to be done in order to determine possible product success or failure and what consumers need/prefer on the market.
I remember working with a brand on a new product that they wanted to launch. There wasn’t enough research on the market and this product reached its decline stage before profits were made.
Hmm! that’s quite sad. The growth stage is very important and needs to be gotten right else, one might build a product no one needs. In addition, it is important to note that research should not stop just at the development stage. product managers must keep their feedback loop open and active else, a product like the above might reach its decline stage faster.
One can develop a product launch it and it didn’t quite match the market expectation, the next thing is to gather feedbacks and see if the product can be improved upon and keep improving on the product till it reaches customers satisfaction and saturates the market.
I would say each stages are very important cos it’s all process to growth, businesses always start from little and small scale,though it’s very important to make use all stages wisely especially the sales,a business sales is zero
Every State is important in a product’s life cycle however the introduction stage is crucial. This is when a product is launched into the market, and its success during this phase can significantly impact its future to pivot or redesign to meet the latest customers’ needs. Proper planning, marketing strategies, and customer feedback during the introduction stage can set the foundation for the product’s success throughout its life cycle.
For example, during introducing a new smartphone, the company focuses on creating awareness, building distribution channels, and generating initial sales. This stage’s success can determine the product’s long-term viability in the market. Customer feedback and market response during this phase can influence future product development and marketing strategies.
As much as all the stages of the PLC is important I think the Maturity stage is the most important this is because it has gone through the growth stage which encompass entering the market and feedbacks have been gotten already. This will help in the maturity stage to see how to re align the product better and also avoid it reaching the decline stage.
For example ; An e-learning platform starts with taking care of just the result management process at the maturity stage it’s obvious customers want to be able to do more than just result management hence the company add products like attendance tracking ,school fee payments tracking and the like ,this will help to push back the product to the growth stage
Every State is important in the PLC. However, i can say the Development stage is the most important
The PLC stage that most significant for me is the Maturity stage. At the stage you can glean alot from the experiences gathered from the Development, Introduction and Growth stage to 1. Better the product and thus elongate the life cycle of the product, ensuring it stays at the maturity stage for more time and 2. From the prior stages you can get into more information to move on to another venture if the product has come to it end. An example of a product that has come to maturity stage is Coca-Cola brand but due to good strategy and proper product management it is having a very lengthy maturity stage.
Every stage is important in the product life cycle as these stages define every moment and achievement obtained by the business or project. As such, product managers should ensure definite success is achieved at every stage. Considering WhatsApp and Telegram, for example, Telegram has interesting features however, user engagement is low compared to WhatsApp causing some users to find it difficult to navigate the user interface of Telegram. Over time, the Telegram team, supposedly the product manager, has probably been receiving feedback from users and the interface has been improving. From my perspective, WhatsApp is also doing the same. However, if Telegram (product management team) can align with the marketing team strategically and push out its features to encourage users, this product, which is at its growth stage, will not decline with time as it may not survive the maturity stage.
All stages are crucial in the production of a new product but without which none can stand on their own cause their relevance intertwine each other but that which holds more power is the decline stages because this shows your marketing strategy and business decisions this could be seen in the case of CDs which other apps have taken over just like that of iTunes and Spotify where the music can be heard in one place rather than different CDs collections
To me, the most important stage of Product life cycle is the development stage. Reason being that once the question of “what need(s) and value does the product intend to meet?” is missed, then the product dies naturally at the introduction stage.
Example of such product can be seen in the soft drink industry like Tandi gorana soft drink that faded out at the introduction stage in the 90s.
Therefore, a product manager, in conjunction with all concerned teams, must ensure all necessary questions are answered before going into developing a product.
All stages are important, but i think the introduction stage greatly determines how well or long the other stages will be. If a product is introduced without proper market research or other things taken into consideration, the growth and maturity stage will be short-lived.
I want to believe that all stages are essential, however the development stage seem to be the determining factor to whether a product is suitable for lunching in the introduction stage and the rest, I have ventured in businesses without having proper details and insight, unfortunately it didn’t make it to the maturity stage, without the 5 stages being tested and given off as a generally accepted theory it is notable to take all stages as important as the other.
In as much as I believe that all stages in the circle of production is valuable as they all enhance each other, I would say that Development is more important. It makes you have an insight if people (users) want the product to begin with and of what value will it offer. It’s crucial exploration state that makes you realize the things to prioritize or not and making sure you’re not doing an imaginative thinking of a product.
To pin-point a particular stage is difficult, one stage needs the other to stay relevant in the market. In the developing stage, product managers needs to know the right product to develop, what problem will it solve and which individuals it’s made for. Then comes the introduction stage, even if the right product was properly developed but was not introduced to the right audience it was made for it will definitely affect the growth and other stages of the product lifecycle. For example: blackberry, it downfall came at the maturity stage due to emerging of screen touch smartphones example iPhone. Blackberry inability to innovate and maintain it’s relevance in the highly competitive smartphone market led to it’s downfall. It’s days as the dominant player in the smartphone industry were over, marking the end of its product lifecycle in the market. I believe each stage demands unique qualities from the product managers.
I’m inclined to pick the development stage as the most important phase, even though it’s a life cycle and it’s cyclical, it’s still the development phase that determines the efficacy of all the other phases, if a product manager hasn’t developed a solid product, the following phases would most likely be mediocre.
Given that it’s a cyclical process, pinpointing a single stage as the most crucial is challenging. Each stage builds upon the preceding one, so they’re all interconnected. I believe each stage demands unique qualities from the product manager. Considering competition and changing requirements, I perceive the developmental phase as particularly complex. Sustaining relevance and fostering product expansion appear to pose significant challenges.
it’s tricky to pinpoint a single stage as the most crucial since each stage plays a significant role in the product’s lifecycle. However, I believe the introduction stage holds particular importance. This is because, despite thorough consumer research and a well-designed product, its potential may remain untapped if it is not effectively introduced to the market. Proper placement and introduction are essential for customers to recognize the value and solutions the product offers.
By effectively positioning the product and obtaining customer interest from the outset, businesses can then focus on updates and improvements of the product to meet evolving market needs and maintain its competitive edge.
Maturity stage is very crucial in a product life cycle. This is a stage where the product is at its peak and to further maintain that height more updates and improvements are needed. This is where the product manager or the product team needs to carry out surveys to know what the users want. Facebook & X (twitter) are always at the peak because of an unending cycle of updates & improvements to satisfy users needs.
I will pick the Development Stage as the most important stage for the simple reason that it forms the bedrock for the whole PLC. If you get it right at this stage chances are that all other stages will so align. Again the Development Stage also sets the tone for subsequent activities in other stages. In the early 2000’s when commercial banks in Nigeria were directed by CBN to urgently establish branches in State Capitals, the then Diamond Bank was very reluctant to move to the capital of Adamawa State because the feasibility studies at the time showed that it was not going to be a viable project. But because of the pressure from the apex bank, Diamond Bank was pressured to open shop in Yola, the Adamawa State capital. The branch continued to post losses for the first 6years despite deploying the best crop of staff and strategies. Getting it right at the Development stage is very key!
I have seen some other comments on picking the Growth Stage as the most important; but I say you will have to get there first before you start thinking of growth. And investing the right resources and attention at the start will ensure you get to the Growth Stage and beyond.
I believe that the initial stage of a product’s life cycle holds importance. Its success or failure, in the market largely depends on this phase. During the Introduction stage, the product is unveiled to consumers for the time. Its fate is heavily influenced by their reactions.
The launch of Apple’s iPhone in 2007 serves as an example to highlight the significance of this Introduction stage. Apple effectively marketed the iPhone as a device that seamlessly combined a phone music player and web browser into one gadget during its introduction. This generated excitement. Buzz around the iPhone resulting in impressive sales figures and long queues outside stores. The iPhone’s triumphant entry paved the way for years of dominance in the smartphone industry.
In conclusion, since it sets the groundwork, for success the introduction stage holds importance in a product’s life cycle. To ensure long-term survival businesses must focus on making an impression establishing market positioning creating awareness and attracting early adopters.
The maturity phase is the most important phase of a product lifecycle.
From a financial point of view, it is the phase where you make the most money.
This is the phase where you reap the reward of hard work put into the product during the introduction, development and growth phases. During the maturity phase, competition is at its highest level. This is a phase where you must think about more ideas and innovations that will make your product remain relevant in the market because other competitors will always try to develop an improved and better version of your product. It’s a phase where you constantly have to be on the watch. It’s very important. A real-life example is Blackberry.
Blackberry started so well. It got to the maturity phase and sales maxed out. They were at the top until the iPhone was introduced by Steve Jobs. Like I said earlier, in the maturity phase, you always have to be on the watch. You have to constantly think of more ideas to stay on top or else…
When Steve Jobs came up with the iPhone, this full-screen gadget with no keypads like Blackberry, customers were intrigued and excited.
During the period this was happening, BlackBerry should have taken action instantly, but they did not.
Instead, they trusted in the keypad feature which they didn’t that the customers were gradually getting tired of with the introduction of the iPhone.
I’ll say it again.
The maturity stage is the most important.
as much as i have my own personal opinion with a strong belief system to back it up, i can’t agree less with you. good point indeed.
As much as every stage is as valuable as the other, the most important of the all is the introduction stage. even after a good market research and a well-refined product preparation, we still have to consider that customer’s behaviors change with time and circumstances.
for example:
if you were considering producing an easy chicken grooming machine and the there is a rumor of bird flu. the sales will drop because our ideal clients won’t be a ble to purchase chicken due to fear of the flying rumor, this can harm the proposed product launch.
the said product could face one or two business catastrophes;
* choose to go on with the product launch and experience a very low turn up unless the marketing team attempt an emotional stunt
* choose to postpone the product launch and still lose product credibility from client. this action could be the catalyst for the premature death of the product.
ideally, the other stages depends on the introduction phase because data analysis gotten from this stage determines if the product will achiever longevity or not.
I would say the introduction stage , just as it is regarded as the high-stake period because it allows room for new strategies to be implemented and this will result to the growth of the product
I agree
Every stages are important for proper attainment of satisfaction and profitability. The most stage to be emphasized upon is the development stage this is because it determines the key reason for creating a product which is “to satisfy human want”.
The satisfaction of human want gives the sustainability of such product in the competitive market and also develops the business interest at profit making.
The Development stage is the most important stage because it helps product managers to develop and see what exactly the product is serving as in the main purpose of the product and how customers can benefit well from the product.
its a very hard one to pick out the most important stage in product life cycle, because all stages are really important, that been said i think the introduction stage and the maturity stage are more important on my own view. Talking about introduction its the phase where a product is lunched into the market this stage sets the foundation for the product success in the long run, creating awareness and gaining early customer feedback while maturity stage, is a stage where a product reach its peal level of market penetration where competition may be intense its important to adopt careful planning and adaptability to sustain the product success. A real word example is the Apple and Samsung smartphone and other devices they introduce
Without the middle, the head, and tail of a fish will not be complete. with that being said, all the stages of a product life cycle are important. As a product manager, attention should be given to all, from conceptualization to decline.
I think the most important stage in a product’s life cycle is the introduction stage. This is the stage where there’s room for trials, errors and corrections. Which is why a company should be sure about a product’s viability in the market before launching it into the market.
The introduction stage is the most important stage, the development stage is also crucial but even with effective structure and planning, if the introduction of the product into the market isn’t solid, the product will consequentially have lower chances of success. The introduction stage dictates the momentum that the product will carry into the growth and maturity stages and that’s why I think it’s the most important.
It is very difficult to think one stage is important as the other as they are in cycle. What comes to mind as the most difficult stage for me is the maturity stage. After proper work has been done in the Development, Introduction, Growth stage. I think the maturity stage will determine if the product will decline and not. One of the product that help me come to this conclusion is our mobile device.
I think that the growth stage is the most important. That’s because this is the stage when the company starts to make the most money from their product. They’ve started to recover the costs of developing the product, so every sale means profit. Plus, they can focus their marketing and advertising resources on promoting a product that’s already been well-received. In short, this stage is when a company’s investment starts to pay off.
A great example of the importance of the growth stage is the iPhone. When the iPhone was first introduced, Apple had to spend a lot of money on research and development, and there was no guarantee that it would be a success. However, once the iPhone hit the growth stage, Apple started making a lot of money from it. They could focus on promoting and improving the iPhone, knowing that customers loved it. Without the growth stage, the iPhone wouldn’t be the success it is today.
the example is a bit porous though. the apple did a good market research and sold luxury to its user which was the beginning of the end for then market king; Blackberry.
From what I’ve learnt about initial stage of a product, which is rightly focusing or the problem-solving and not just the idea about the product as the top priority, and similar with the learning about the first stage in the product’s life cycle, I would have picked “Development stage”. However, sustainability and relevance, especially with innovations around day-to-day technological advancement, I would pick the Decline stage as the most important stage of the product’s life style.
I’ll like to use Dangote Group of Companies as my case study. Dangote started with Cement, and their initial goal was to help Nigerians reduce the cost on cement purchase as against the imported ones. That was a good problem to have solved. However, that could not be the only product to stay relevant, especially with diversity in things. So, I want to believe stage five, which is the Decline stage, has helped them. Being strategic by introducing Rice and Tomato farming, Salt & Sugar Refinery, Mining, and Fertilizer are great innovations. Their target audience shifted from builders and more extensively to every individual. There is no category of audience that will not be in need of any of this product; providing a logistic company to distribute these products, is also an additional concrete strategy that cares for the interest of the consumers, the business, and at the same time solving the problem at hand – which is producing indigenous goods/services to alleviate the cost of purchase as opposed purchase from importations.
The most important stage I think is THE MATU RITY PHASE because it is the most profitable, the product is now widely available, production costs are now less and less is being spent on marketing. At this phase, the company producing it needs to reap considerable rewards for the time and money spent developing the product.
Marketing cost or activities like I said are lower on the stage
In my humble opinion, the most important stage in a product lifecycle is the maturity stage. This stage entails that the said product has saturated the market and if no pro-active measures such as rebranding, advertisement etc are taken by the Product manager in other to stay relevant amidst competition, the product will begin to decline and probably vanish from the market.
The maturity stage is a risky stage in which if the Product manager relaxes because of great sales may as well lead to the downfall or liquidation of the company. Hence, the Maturity stage is most important because it determines whether the said product has come to stay or will vanish with time.
Each of the stages are Important in their own ways. Like some others have stated, without the previous stage it’d be quite difficult to excel in the next stage. If a product is not introduced enough to the market , Users might misinterpret it as the product not being relevant enough, it might also end up being alternatives for users rather that being their first choice. If this occurs, the growth of the product as well as the business will be greatly affected.
However , I think the Growth stage is most important. Now the product is in limelight of the market , users are actively purchasing and demanding ,business is growing … this is where the PM gets their chance to gather as much information as they want in terms of what the users think . Users cannot give feedback if the product is in development or still being introduced. The feedbacks may not be as effective and probably “too late” when the product is mature;Users will be like “after all your product has been here for so long and we’re used to it already”. At the growth stage, users are just starting to experience the product fully , they will be able to give their honest opinions about what they like and don’t like. The PM can then use this information to improve the quality of the product. They can either redevelop or reintroduce the product if need be, bear in mind that this might not even stop the product from growing. (it’s easier to go back at the growth stage than when the product is Mature). We often see this when ever a brand comes out after a while to say they are REBRANDING. Whist in the process of rebranding, their product(s) will still be out there serving users and when the rebranded product comes into the picture , it will either be a replacement or an addition to the formerly existing product.
The most important stage in the product life cycle (PLC) is the introduction stage. This stage sets the foundation for the product’s success or failure in the market. It’s crucial because it’s when the product is launched and first exposed to consumers. Proper execution during this phase can lead to strong market adoption and long-term success.
For instance, consider the launch of the iPhone by Apple. During the introduction stage, Apple focused on generating awareness, building excitement, and showcasing the unique features of the iPhone. This stage laid the groundwork for the iPhone’s dominance in the smartphone market.
This may be true from the standpoint that this signify the starting point of sales of the given product but the again a PM may not have enough information at this stage to take the product to the growth stage.
To me, I believed the most important stage is the development stage.. this is the stage where the product manager and the team will gather that necessary information about the product.. who needs the product, how to sell it, where to get the materials and this would require a lot of processing,time and money.. Getting it wrong at this stage can affect the growth stage by hindering the product from growing to the expectation of the management.
I think the most important stage of the life cycle is the Maturity Stage.
Many of the most successful products on earth are suspended in the mature stage for as long as possible, undergoing minor updates and redesigns to keep them differentiated. Examples include Apple computers and iPhones, Ford’s best-selling trucks, and Starbucks’ coffee—all of which undergo minor changes accompanied by marketing efforts—are designed to keep them feeling unique and special in the eyes of consumers.
Correct
I think the most important stage of a product life cycle is Development followed by introduction.
When developing a product, product manager should ensure that all the qualities intended to communicate to the consumers as what the product will provide them with should be there. So that consumers don’t get disappointed after purchasing such also for the product to recommended.
Eg sometimes,you see some people selling medicine in public transport, detailing all the sickness that can be cured by such medicine.When you purchase the drug, you will find out that it does not work. When you hear another person wants to buy you will discourage the person.
The introduction stage in the PLC stages is most tricky stage, an idea not expressed properly, to the right audience and at a wrong time can skip the growth stage and maturing stage straights to the decline stage.
The beginning of every product determines how close to the end it will get to.
An introduction stage is as important as the maturity stage.
One needs to be explained while the other needs to be differentiated.
For me the most important stage of the PLC is the decline stage because it makes the PM to know where they are getting it wrong in the market, what the consumer needs for them to improve and make corrections so that the value of the products won’t reduce and sales won’t be drop or other competitors taking over them.
It helps the PM to figure out where he or she needs to be corrected.
I think all the stages are equally important. Without proper development of a product, it may affect the introduction and other stages.
In my opinion, the most important stage in the product life cycle is the “introduction” stage. This is the stage when a new product is first launched, and it’s critical to its long-term success. During this stage, it’s important to generate interest and excitement around the product, and to establish a strong brand image. Without a strong introduction, it’s difficult for a product to gain traction and become successful. So, I think the introduction stage is the most important because it sets the foundation for the rest of the product’s life cycle.
While all stages of a product’s life cycle play crucial roles, the introduction stage holds particular importance. This initial phase sets the foundation for a product’s success, as it involves launching the product into the market. Effective planning and execution during this stage can create a strong first impression, generate initial interest, and establish a foothold. A well-managed introduction lays the groundwork for subsequent growth, ensuring the product gains traction and captures the attention of the target audience. Therefore, focusing on a successful introduction stage is pivotal for a product’s long-term viability and market presence.
For me I would say the decline stage because when a product has gone past through all this stage and is fully matured….what comes in next is consistency….if there’s no consistency, we find out that the product in question begins to decline and probably go down the drain hence the need to start over and re-strategize
For me I think is the growth stage because putting a new product out in the market knowing that they are competitors out there is the most important stage in the product life cycle.
Example of such product is a tomato company launching their product knowing there’s an existing product like Gino in the market.
@lbukun oni.. I totally disagree with you on this because as a product manager, you ought to study the market first to ascertain the people’s need before developing a product.
After a critical review, I think the most important stage in a product’s life cycle is the MATURITY STAGE because I believe this is the stage where you hit a plateau and reach market saturation (according to the graph analysis). At this stage you could go for finer differentiation by adding some innovative aspects to your product, or opt for cutting costs by using innovative technologies. Even if you choose both, you can only prolong your product’s life for some time. The next stage which is decline stage is inevitable. That is the reason why you should think ahead and have a plan B, to have that next innovation in the development stage and ready to hit the market. A good life-example is Coca Cola, we can basically say Coca Cola is at it Maturity stage, Coca-Cola focused on diversification by introducing new products like Diet Coke, Coke Zero, and various flavored variants. They also heavily invested in marketing and brand-building to maintain their market position.
For Mr every stage is very important. Most especially the cycle state
For me, I would say the maturity stage. At this stage, sales tend to and begin to decline. This is critical because it signals a shift in interest from your customers which could result from lack of certain service not being provided anymore or not provided at all. At this stage, observations are noted and feedbacks from customers will help guide you on the best possible way or features to include when developing a product the next time. It is critical to note that it is in this stage that comparable statistics are made and researches done to determine the cause in sales decline or product usage.
In my opinion, the most important product’s life cycle stage is the decline stage. This is because at this stage, the competition to stay relevant increases. This stage helps companies make decisions about discontinuing products. This is the stage where companies need to come up with new strategies to enhance the product’s life cycle. Like, in a case of social media platforms like Facebook and Instagram. Every time, there are new updates that consist of new features that make the masses want to try out these applications, and this prevents the product declining. The harder a company works on a product at the decline stage, the more relevant it becomes, and this prevents obsolescence.
Chinazor mbagwu
For me i believe each stage is very important and vital to all, but to pick one ,i will say the decline stage is the most important,because when a project manager has followed the trends of development and growth and seen the maturity of his products, he should know the most important which is when to pull out. That is why the decline stage is the most important, the product manager should know when to withdraw the products from the market,before more damage is done to their already made profits and organizations as a whole.
In my former manufacturing company,where crackers biscuits were produced in nigeria, the high cost of raw materials and importation made production cost very high,mlaing the products too high even for the lowest customers. The sales dropped,but they refused to pull out and re-strategize,this cost them alot, they lost all their customer base, because for months they had no sale, no income, no purchase…nothing. they had to sack almost all their staff and so on. But if they had used the decline stage, know when to pull out,it would have been restored.
I think the most important lifecycle is the development stage. this is because at this stage, the product manager has a lot of analysis and market research to do because that to a large extent determines the introduction, growth, maturity as well as the decline of the product. If this stage is properly taken care of, then the product would stay in the market for a long time.
I remember trying to introduce a product to the market sometime ago and it didn’t get to the growth stage because the development stage was not properly handled and it crashed.
The Development cycle is the most important, reason being that it’s the birth of the product if anything goes wrong here it can affect the growth of the product if it is not checked before introduction, so if the development is great the product will be great e.g Apple (iPhone)
I agree with you because if this is not properly done, the product in question would phase out even before it gets introduced.
In my personal understanding,
The growth stage of a product is the most crucial stage of it. Because at the growth stage there is high demand and consumption but going further into the maturity stage the law of diminishing return may set it, thereby leading to decline in demand and usage gradually.
A very good example is Blackberry products, the moment they relaxed on innovation and development, the law of diminishing returns came in and currently blackberry is out of market. Constant innovation and development keeps a brand in demand leading to more growth.
In as much as i agree development stage is important ( producing the right product).
I strongly believe that the introduction stage is more important and determines product success. when the produced right product is not advertised properly and introduced to right location, there wont be other stage further.
E.g i worked for a firm that produces consumables , we once developed a new brand for a new location, taste was good but the location and advertising force was poor. the outlet shutdown.
Good day,
I think the development stage is the most important stage.
I said this because, it’s in this stage that you work on the product, determine your market, ensuring the product is what people want and all that.
If one is not careful, one can quickly rush into a product and then jump into the market because you have the money.
I recall starting a poultry business years ago (about 8 years), a friend of mine introduced me to it and i jumped into it without proper planning, after few months the rest is history today.
I think the development stage is the most important and even critical stage.
Thanks.
i think the maturity stage is the most important step in product life cycle, because this is the stage where the cost of producing and marketing decline,with the market been saturated with other products,competition will become higher than other stages, the company have to start struggling to remain in the market, profits margins start to shrink. the company may start to think on how to innovate and change their product, in other to capture a larger market presence.
The most crucial and significant phase of a product’s lifecycle is the introduction phase. The product often loses sight of what matters most, which is having a loyal customer base to use the product, if it does not have a strong market introduction. For example, Tiktok’s introduction contributed to the platform’s current large user base; if the introduction stage had not been done well, the platform would not have been able to develop its popularity. Every successful product has a devoted customer base that thinks the product is a solution to their problem, not the product manager and their team.
I will go for the development stage as that is the foundation of what will be the durability of the product even though all stages are also important.
I consider the “growth” stage the pivotal phase in the product life cycle, as it signifies widespread market acceptance and substantial sales expansion. A prime illustration is the smartphone industry, where rapid adoption and increased market share during the growth phase transformed the technological landscape. This stage is crucial for sustained success, significantly impacting profitability and shaping future strategic decisions. It stands as a testament to a product’s viability and relevance in meeting consumer needs.
For me I think it’s the development stage as it’s a determinant for other stage. It’s in the development stage that you know if the Product will suit the consumer/ customer’s needs and will also determine if the product will decline or not when it gets to it maturity stage.
Different stages of the product life cycle are important for different reasons. For example, the development stage is crucial for creating a product that meets the needs of the customers and provides a competitive edge. The introduction stage is important for creating awareness and interest in the product, while the growth stage is important for building market share and increasing sales. The maturity stage is important for maintaining market share and profitability, and the decline stage is important for determining whether to continue or discontinue the product. Ultimately, each stage can be critical to the overall success of a product and should be managed carefully.
As is it a cycle, It is very difficult to select the most important stage(s) in the life cycle of a product. However, it is expedient that a stage will determine the other stages of the cycle. Based on my analysis, the Development stage is the most important, as a very good product manager, if some honest questions are asked in the exploration stage, it will determine the survival of the product in the other stages of the cycle. For example, the development stage should be able to determine if truly the market is ready for introduction, if they have bugs to fix or more face lifting to do (If it comes in goods) or how best is the CRM if it a service, the development stage should also have a written plan to determine the growth and be able to access the factors that can affect the acceptance of a product, for example, as a movie director, you should be able to know that it will be more preferable to put a movie on streaming platform than cinema because of the increase in ticket price and the availability of cinema houses in some areas.
In conclusion, all stages are important but the proper planning in the Development stage will see to the success of other stages.
“No matter how well or how much you build a product, the effectiveness and result is tested when it’s introduced into the market_” Me.
I would say the most important stage is the introduction stage, because it does more with data-driven from the audience who have used the product. While development stage builds more on data, consumer idea, wants and results. The introduction phase deals with the effectiveness. Meta VR (virtual reality) and web-3 is an example, while Mark spent so much time and money on developing VR products at this age, it didn’t cohere with the consumer wants times the revenue stream generated and its importance in the market. Back in the days, when I built a product with my friend, it failed due to the less attention paid to this phase. While development deals with data, introduction builds on it and brings it to reality. Regardless, other phase are important too, a product well developed is a product good to be introduced, and a product which passed the introduction phase is a product which stands to grow and mature, and like humans age, every product meets the decline phase, possible innovations can only keep it relevant during that moment.
I would say introduction, is most important step in the product life cycle. Even, if product was properly developed, but not good enough introduced and advertised or not clear enough introduced for which group it is, it will significantly influence its further growth. However, i also agree that proper development stage and growth stage are also very important, but good start (“introduction”) is vital in my humble opinion
I believe the development stage is the most important. This is the stage where everything about the product is analyzed and projected upon. It is the beginning stage of the product life cycle and it’s rightly said that “if the foundation of a building is not strong then the building can not stand”. Same goes to the product life cycle, if the product is not properly developed all other stages will be shaky.
I think the development stage is more critical and important,because it’s the exploration stage,the vision and problem-to-solve are what informs what product to develop.
And if you fail in development stage,other PLC stages will automatically be affected.
the introduction stage is the most important stage in PLC because this is when you bring the product out to your audience ( consumer). this product is new to them and you want them to patronize you since the product will be solving a particular problem. so the emphasis will be on advertising to them why you think the product is good and is important or necessary for them to have it pointing to the problem it solve.At the introduction stage we build trust and awareness of the product to the consumer.
I think the growth stage is more critical. Cos if a product is developed,and it’s not accepted by the public,then it will lead to a decline. E.g Threads. Threads was introduced as the replacement of X. People downloaded and signed up just to later ignore,leading to a decline. The app was developed,introduced to the public when X was having glitches and people ignored the app when X started working perfectly.
So it’s safe to say the growth stage,is very important
For me I think the most important stage in the product cycle is the introduction stage
This is because hw a product is introduced into the market system will determine how the public will see the important and values of the product before they will have interest in the product which can tell if the product will sell or not
While every stage of the product life cycle is important, the introduction stage stands out as a critical phase that can determine the product’s overall success or failure.
I believe all stages are important but the development stages is quite more critical. If the said product developed does not satisfy consumer wants as well reach the market value, the product when released into the market (introduction) will definitely not do well leading to an immediate negative decline.
The development stage is very crucial, as it sets the foundation for the entire product life cycle. Without a well-developed product, it’s unlikely to be successful during the other stages. It’s also important to consider the needs of customers and how the product can meet those needs.
Development stage of a product is the most important phase because if the right product is not developed to meet the needs of customers, then efforts during the other stages become futile. Necessary steps needs to be taken to ensure that right products are been developed before proceeding to the next step.
For me I will say development stage because developing a product that solves a problem we’ll is important so I ahead of solving a problem u wouldn’t be creating another problem for ur users
I strongly believe that development stage is the most delicate and important stage of every product or service life cycle. My reason is that, this where whether or not a given product or service will met the needs of the customers efficiently. You also determine if the product or service will drive the company towards success.
Developmental stage is the most crucial to me because if everything from getting the right target audience to technology and other important steps are not properly planned out or executed,it will lead to quick decline of the product.
To me the most important stage has to be the development stage because if an app is not developed it can’t be introduced or pass through the other stages,so definitely the development stage remains the most important.
The Development stage as the product should be able to meet the customer’s needs, which i believe there should be a lot of testing especially if it’s a product like an application. The quality has to be top notch.
I believe the development stage and the introduction stage are equally important. Here is why;
The development stage is where the product is developed and tailored to meet the needs of the targeted consumers after research and analysis must have been conducted. Developing the right product will provide a promising future for the product. But, what if the product is introduced badly or did not get the right/enough marketing to reach the audience it ought to reach?
I used to write and sing songs, and I had to quit when I found out that I waste so much time and money, and it’s getting me nowhere. But anytime listen to the songs I recorded again, I know for sure that if I got a good manager to help with the songs (development) and help in marketing the song to reach audience worldwide (introduction), I would have done better as an artist.
Development indeed, Quality creates an avenue for self product advertisement. When a product foundation is qualitative it becomes very hard for consumers to switch options either.
For me I think the “Development stage” is the most important stage,because if the right product is not developed to suit the needs of customers or masses the efforts during the other stages turn out waste.you have to look at your environment and what the customers really want or needs, things that will make life easy and ensure that the products are user friendly.
I think the introduction stage should be the most important stage for a product manager as the way you introduce your product to your consumers will determine the type of users, number of users and what the consumer think and feel the product can help them.
Well, for me, all the stages complement each other. No one should be under emphasized .
For me, the most important stage is the development stage.
Like some have mentioned, each stage depends on the previous stage. The development stage is the foundation of the product. Without the right foundation, a building will sink when the storms come.
Let me use the example of a digital product I worked on. The management kept trying to force an introduction of the product without actually listening to the voices in the market and the voices of the consumers. Of course, everything came crashing down
That product is no longer functioning as we speak
In my opinion The “Introduction” stage of a product’s life cycle is the most crucial because it Establishes market positioning and initial impressions; raises consumer awareness and solicits input; builds momentum and validates investment; and establishes the foundation for long-term success A product’s success depends on its launch since it establishes the foundation for its further development and expansion. An example I would like to cite is “ The 2007 release of Apple’s iPhone”. It serves as a practical illustration of the significance of the “Introduction” stage. Apple transformed the smartphone market with the release of the iPhone. The introductory phase was well thought out. The launch of the iPhone serves as a perfect illustration of how a product’s success can be determined by how well it is launched. It changed how people engage with technology and paved the way for the iPhone to dominate the smartphone market.