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.
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.