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.
All stages are so crucial. Success of one stage leads to the birth of the next stage. However I think the decline stage should be given more concentration as it shows when the product is no longer in market or consumers shift to another alternative.
Producers must take note of why the decline and work towards improvement.
Example of this the Thread app by Meta . The decline of the social media app is so fast
I think the growth stage is important, cause at that stage you’re trying g to maintain the relevance of the product.
I think the development phase is the most crucial aspect in a product lifestyle. Once a product or service is not properly made to meet the needs and requirements of the users the n the other stages also become a flop. Also the growth and maturity phase are as important because growing a product seems a lot like a challenge these days. It”s hardwork trying to maintain and i guess that is also a crucial point for product managers to pay attention to this phase.
For me, it’s difficult to pick a stage that is more important than the other because every stage of the product cycle depends on one-another and product development is never ending. I also think that development occurs in every stage of the cycle as the PM keeps improving on the product as it stays alive. However, it is important to note that the first stage of the circle is crucial to sustaining other stage of the product cycle.
I think 🤔 The “product development stage” is often the most crucial in the product lifecycle because it defines the product’s features and ensures it meets customer needs. This stage sets the foundation for the product’s success, as a well-designed product is essential for growth and sustainability. Early feedback and iterations during development also help refine the product before launch, increasing its chances of success in the market.
Activity 2:
Apple creates positive user experiences by ensuring seamless integration of hardware and software with intuitive, user-friendly designs focused on simplicity and aesthetics.
The growth stage is often considered the most important in the product life cycle, as it’s when a product gains significant market traction.
Example: Apple’s iPhone
Introduction: Launched in 2007, the iPhone introduced a new smartphone experience, backed by heavy marketing.
Growth: The iPhone saw explosive growth as Apple expanded features and distribution. New models each year reinforced its market dominance.
Maturity: As the smartphone market became saturated, competition increased, and growth slowed.
Decline: Signs of decline appear as newer technologies emerge and market saturation continues.
Importance of the Growth Stage
Market Penetration: Capturing market share sets the stage for long-term success.
Brand Loyalty: Building a strong brand leads to repeat customers.
Financial Returns: This stage often yields the highest returns as sales increase.
In summary, the growth stage is crucial for establishing a product’s market position and ensuring long-term viability, as shown by the iPhone.
introduction is the key point of development in any produt, is most important step in the product life cycle. Even, if product was properly developed, but not good enough too market for people outside and inside 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 please development stage and growth stage are also very important, but I like too start with (“introduction”) is vital in my humble opinion.
As me because I’m solar Engineer installation the most important stage of production is the development stage and with a stranger development from the begging with a good markets honestly and trusting agent.
Nothing good comes easy in life. The probability of your success depends upon your hard work and attitude.If will can development our home and lifes it will easy for us too development and You can never succeed without meeting deadly challenges
As me because I’m solar Engineer installation the most important stage of production is the development stage and with a stranger development from the begging with a good markets agent.
Development Stage because know the product that suit the customer’s need is not enough there are strategic plans too require.