Maximize Your Business through “Product Life Cycle” Part I

• January 25, 2013
• Jesandy
• 1 comment

Product Life Cycle (PLC) is like your playbook template, your speedometer on your dashboard, or weather report on a picnic going. It is for tracking your product position, I’m not saying it’s fundamental tracker, but the benefit: you might seeing your brand in a whole picture has concluded PLC still a very nice guide until now. The theory about PLC you can find out there, even many of them with complete explanations, but now i try to enhance those idea based on my actual experiences, hope it will get new perspective from you also.

Introduction

Before going on this level, there is some level you may consider, call: research stage, it’s before introduction level. Assuming you already explored your product’s strength and weakness, opportunities and threat (SWOT) based on your own target market segment and also your competitor, all of those are poured in one container: The New Product Launch Plan.  Prepare the Launch Plan cause the first step are always Crucial, how to be succeeded is always based on your research and your launch plan. Basically, the main road on the introduction level is How Far Your Actual Conditions Stick to Your Launch Plan. Don’t talk about sales number first: you just have to ask yourself consider on these two things. First: Awareness, how many people know my product, are the numbers meet the target? Second: Distribution, How easy people get access to your product? Let’s talking about your distribution level on your first customers: how they cover it up? I’m sure there always 1001 ways to boost your awareness and spread your distribution. But most of the time you may notice this, even you have your first customer based and the distribution run smoothly, you just stuck, can’t enter to the next level. Before we get going, let’s talk about the “Looping Time”.

Growth

Locked and loaded folks, this is all about the happiest part happen 🙂 you selling are raising high, your product awareness extremely up, only few competitor walk in by or even nothing. But don’t get too happy, your product might fall if you underestimate this phase. The first thing you must do always try to acquire more customers follow by distribution level. Second, extend your product variants or service, or maybe your warranties, there are various ways executing them, you might goggling them out. Either new customers coming, in this phase their complain also start raising, always create best solutions if you have one, if you can’t offered those, please make sure you always be there for them at least you will convey with fast respond. If you want extending your product or other stuff, always check your method and focus on your target market based on your plan from the beginning. Never drift apart from your brand personalities, the unfocused scheme just only wasting your time, high cost and losing your customers.