I never managed to understand Product Life Cycle Management. The notion of it. What am I expected to do by knowing the ‘definition’ of product life cycle management? Marketing speak. I can’t know ahead of time anyway.
How hard it is to teach that some products do not even take off in the market? They die too soon. May be some trade sales in the first couple of months and that’s it. Dump with distributors.
What they fail to teach is maturity length of a product demand vary from company to company, market to market.
Parle Biscuits Pvt. Ltd. G biscuits has been in the market with same packaging and recipe for over 60 years anow. Still no mark of its decline in demand.
I haven’t migrated beyond Gillette Presto use and throw twin blade razors in over 25 years. Just the stick is a little sleek now. But it works for me. 20 Rupees. 10 shaves. Always available on shelf. Any store.
How do some products manage to last so long in the market?
Why did they discontinue Yamaha RX100 bikes when there was a crazy demand for it in the Indian market?
So what do you need to do to extend the length of maturity phase?
1) Find new markets where competition is less?
2) Differentiate price points. (pack of 5 vs pack of 2)?
3) Redesign the product?
4) Create a new consumer segment?
5) What else?
We all have jobs because somethings sell and Something sells very well. Most firms ride on the success of only 5 to 8 SKUs. What went right with them? Even by fluke.
