1.4 Product Lifecycle

Everything(As a Product) has its Lifecycle and definitely, each product has its own Lifecycle. Product Lifecycle and their stages are having multiple stages and multiple scholars and Industry professionals have their own design theory and of course it was justified by them as well.

It is ambiguous to define the Product Lifecycle stages. Each organization and its leaders have their own theory and Ideas but the basic concepts could be shown as below stages:

1. Introduction Stage

2. Development Stage

3. Growing Stage

4. Maturity Stage

5. Rejection(Decline) Stage

Let's understand this by a small case study about a car which actually shook the Motor markets because the company promises the car(4 wheeler) at the price of a bike( 2 wheelers, slightly more

than a two-wheeler price).

As Introduction Stage, the company decided and start building the skeleton of the car and then develop the prototype(It is the beginning stage of a product and used for the usability testing ).

It checks that, does this offer the same for which it is built.

In the Development Stage, It starts the production of the car in mass scale so that they could make this available to the public. It has its own challenges and how to overcome them, we would discuss it in a later blog.

The growing stage includes once car as a product accepted by the public and it's demands are high. The demand is soaring day by day. It actually happens also and prebooks were done for that small budget car. A few customers gave feedback about the engine, sitting arrangement and it was actually rectified by the company so that product should be well accepted by the public. The car company gets multiple awards and recognitions from international organizations and society for fulfilling the dreams of a common family for having a car at a minimal price.

In the Maturity Stage, all features and functionality of the car are stable. Some iterations could be done to rectify the pertained issues with the car as a product but not major changes are welcome.

The last stage is rejection when the public feels that it does not suit their life or any alternative solutions are available which is better than this car then Rejection Stage or Decline Stage starts. The company has to stop production because they could not be able to sell the product and it creates a capital loss for them.

I am sure this story makes you understand how Product LifeCycle stages are designed.

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