From Birth to Death ECommerce Articles | May 19 Evan Engram Jersey , 2005 ... 2005 ... LtdYour product is dying. With the same ... that we humans move ever closer to death, so does every software ... move towards its eventual demise.
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Your product is dying. With the same inevitability that we humans move ever closer to death, so does every software application move towards its eventual demise.
The difference is that we have become increasingly competent at caring for ourselves and each other with the result that our chances of a longer and fuller life continue to increase with time. We have learned to recognise our own and each other's positions in the life cycle, and become aware that we have the means and ability to provide the care and environment necessary for our continued survival and prosperity. We nurture and care for our small children, and accept and encourage their ability to stand on their own two feet as part of their journey towards the day they will become are fully self-supporting. In due course, they will care for us when we become old B.J. Hill Jersey , and in turn will one day be supported by their own children.
And so to software. A product's life cycle is not much different from our own, yet despite our ability to cater for our own changing needs, many of us are quite oblivious to the needs of our products and software as time goes on. The concept of the Product Life Cycle is a simple one, and allows you to see where your product stands at any one time, and to assess what circumstances lie ahead, by providing the information that you need in order to react accordingly. In much the same way that we do not wait for a child`s teenage years before starting their education Will Hernandez Jersey , or for an older person to become so frail that they are unable to care for themselves, we should not wait for the negative points in a product's life cycle to be so obvious that it is too late to respond effectively.
There are four stages in the Product Life Cycle each with their own recognisable symptoms, threats and opportunities, all of which should be addressed individually.
The Early Days
Firstly, the Introduction stage. When a new product is introduced to the market, the initial impact is usually very slight Eli Manning Jersey , and spotting any emerging patterns is often close to impossible. You're likely to enter the market with only the barest of ripples, let alone a splash. There are exceptions to this. Large advertising budgets, hype, pre-launch public interest and new technologies may all increase the initial visibility of a product's launch. Yet even a high-visibility campaign will take time for customers to learn that a product is available, and time for a significant demand to build up and become apparent. For most of us, even with the most stringent of marketing budgets Saquon Barkley Jersey , viable profits at this stage are unlikely, and the possibility of actual short-term loss a very real one.
So how long should this stage last? The answer is almost impossible to estimate with any degree of accuracy, as there are so many variables involved. So much depends on the market demand for the software, the marketing budget, visibility and so on.The basic strategy at this stage is simply to get the product "out there", and draw as much attention to it as is possible.
Growing Up
Next in the product's life cycle is the Growth stage. If all goes according to plan Odell Beckham Jr Jersey , this stage should be easy to recognise both in terms of sales and profits. But the risk is that many companies will simply sit back and enjoy the ride and the success. Absolutely not! The growth cycle is the time to aggressively seek-out new opportunities, and to gain as much of the market share as possible. Some fairly clear patterns should start to emerge quite quickly at this stage, and it is usually obvious what is working and what is wasting your time. Look for three factors. The ?successful? factors need to be looked at, studied and improved. If a magazine editor gives you a glowing write-up, capitalise on this by actively seek-out more magazines, more editors and more glowing write-ups!
The "intermediate" factors are a little less obvious. Results in this category tend to be steady and uninspiring Darius Slayton Jersey , but can show potential for improvement ? only if you spot them. If for example you're getting a significant amount of traffic from one or two of the search engines, then people must be actively seeking what you sell. So get on more of the search-engines, and spend some time on improving your position.
And finally, the "On the Way Out" factor, which is the easiest to spot, yet also the easiest to ignore. You may like spending time on constantly optimising and improving your website Julian Love Jersey , but when you reach a certain point, the amount of time required to do so outweighs the actual results. Anything that you're doing that consumes time with nothing or little to show for it should be avoided. Move on.
The Mature Product
The next point in the product's life cycle is the Maturity stage. The euphoria of the growth stage slows down to a more steady and sedate pace, which can often offer an abundance of opportunities, and can also pose some potential threats. Your competition is likely to be at it's fiercest during this stage, and the level and success of your marketing will almost certainly prove to be a critical factor in your product's success. The Maturity stage is quite similar to human adulthood. Massive growth is unlikely, and as long as we accept our age and take care of ourselves Oshane Ximines Jersey , we can reasonably look forward to a long and healthy future, both for us and our products.
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