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 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.
Normally, I would say that the development phase/stage is the most important for any product’s life cycle because, it is at this stage that the targeted customers needs and design of the product is strongly taken into consideration.
Taking a look at Facebook as a product, one would easily see that lots of effort/work was put at the development stage. Lot’s of research and development was done in a bid to see that the product meets customers expectation.
On the other hand, as a marketing officer, I want to look at the introduction as the most important stage in every product’s life cycle. This is because this phase connects directly with the target market and poor introduction could ruin the product for life.
Again, we will all agree that there are products that were very well developed that could not make it in the market. These products were poorly introduced to the market.
Few example of such product are IVM, legwork, letschat, nigezie, Vivo phones, etc. The marketing strategies that were used when introducing these products to the market did not resonate with the intended customers, hence, the products even though they were very well developed, could not make it in the market.
It is a well known fact that “with good marketing strategies, a poorly built product can thrive in the market”, hence, products like Tecno, Kia, GAC motors, etc thrived in the market and are still thriving with regards to the innovations that are being made on them, thereby, enabling them to be competitive in the market.
I am of the opinion that the introduction stage is the most important in any product life cycle.
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.