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.
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.