Short answer
Integrate lifecycle thinking into the design process from conception, planning for evolution, updates, and eventual end-of-life.
- Field
- Innovation & Markets
- Source
- IntechOpen eBooks (2018)
- Method
- Literature Review
- Evidence
- Strong effect
Effectively managing products through their lifecycle, from introduction to decline, is crucial for sustained market competitiveness and profitability. This innovation & markets research insight is drawn from a 2018 study published in IntechOpen eBooks. Using Literature review, researchers explored how this design variable affects real-world outcomes. The key design takeaway: Integrate lifecycle thinking into the design process from conception, planning for evolution, updates, and eventual end-of-life.
Strategic Product Lifecycle Management Drives Market Success
Effectively managing products through their lifecycle, from introduction to decline, is crucial for sustained market competitiveness and profitability.
IntechOpen eBooks · 2018
Key Findings
- 01Products progress through distinct lifecycle stages: introduction, growth, maturity, and decline.
- 02Different management strategies are required for each lifecycle stage.
- 03New product development can be achieved through various avenues such as mergers, acquisitions, licensing, franchising, and internal development.
Application
Design takeaway
Integrate lifecycle thinking into the design process from conception, planning for evolution, updates, and eventual end-of-life.
How to apply
When developing a new product, create a preliminary lifecycle management plan that outlines marketing, design, and support strategies for each anticipated stage.
Project actions
- 01Consider how your design might need to change over time.
- 02Research how similar products have evolved or been replaced.
Method & Evidence
Variables
Strengths & Limitations
Strengths
- +Provides a foundational understanding of product lifecycle concepts.
- +Outlines various strategic options for new product development.
Limitations
It can be difficult to accurately predict the duration of each lifecycle stage or the impact of external market factors.
Reliability & validity
The conceptual nature of the paper means reliability and validity are based on the synthesis of existing academic work rather than direct empirical measurement.
Think critically
How can a designer proactively influence the length and shape of a product's lifecycle through innovative design features?
Design Principles
"Design for the lifecycle: anticipate future needs and market dynamics throughout a product's existence."
Understanding the product lifecycle allows design teams to anticipate market shifts, plan for product evolution or discontinuation, and allocate resources more effectively. This strategic foresight minimizes wasted development effort and maximizes return on investment.
What This Means for Your Design
Think about how long your product will be popular and what you'll do as it gets older or less popular.
How to use in your project
- 1.Use the concept of product lifecycle to justify design decisions related to future-proofing or planned obsolescence.
Add to My Project
Quick Cite
Paragraph starter
This research highlights the critical importance of product lifecycle management, suggesting that design decisions must account for the product's journey from introduction to decline to ensure sustained market viability and strategic advantage.
Source
Questions About This Research
- What does the research say about strategic product lifecycle management drives market success?
- Integrate lifecycle thinking into the design process from conception, planning for evolution, updates, and eventual end-of-life. Evidence: IntechOpen eBooks (2018).
- Why does "Strategic Product Lifecycle Management Drives Market Success" matter for design?
- Understanding the product lifecycle allows design teams to anticipate market shifts, plan for product evolution or discontinuation, and allocate resources more effectively. This strategic foresight minimizes wasted development effort and maximizes return on investment.
- How can designers apply this research?
- Integrate lifecycle thinking into the design process from conception, planning for evolution, updates, and eventual end-of-life.
- What were the main findings?
- Products progress through distinct lifecycle stages: introduction, growth, maturity, and decline.. Different management strategies are required for each lifecycle stage.. New product development can be achieved through various avenues such as mergers, acquisitions, licensing, franchising, and internal development.
- What research method was used?
- Literature Review.
- How strong is the evidence?
- Evidence strength is rated Strong effect, based on a 2018 journal from IntechOpen eBooks.
- What should I do differently in my next project?
- When developing a new product, create a preliminary lifecycle management plan that outlines marketing, design, and support strategies for each anticipated stage.
- What are the limitations?
- The paper is conceptual and relies on existing literature, lacking empirical data from specific case studies or market analysis.