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hruship101 replied to the topic Product Life Cycle in the forum Introduction to Project Management 8 years, 11 months ago
I agree with Roberts’s opinion that every product has its Life Cycle in which the product undergoes different phase such as Development, Introduction, Growth, Maturity, and Decline. It all depends on how accurately the product satisfies the customer needs and the market. An example of sutures is a great example to show different variation it has been through the life cycle. Another example is pencil; there have been many variations in pencil, such as lead pencils and then mechanical pencils. It is basically used by all the kids as they begin their academic career. However, the design has changes a lot. Nowadays, most kids are reducing the regular pencils to mechanical pencils, thus declining the need of sharpener. All in all, I believe multiple phase in the life cycle of a product that makes it a successful or unsuccessful.