Assess

• This is the stage in which sales of your product begin to fall. Either everyone that wants to has bought your product or new, more innovative products have been created that replace yours. 
• To stay competitive, and keep your market share, you will need to reassess your existing ...

Once assessment and evaluation of the product features is complete, a decision needs to be made on which features to keep and upgrade and which to remove.

For the features that prove not useful for the customer, and don’t generate engagement or revenue, those should be removed. This should ...

This is the stage in which the product is initially promoted. Public awareness is very important to the success of a product. If people don’t know about the product they won’t go out and buy it.

There are two different strategies you can use to introduce your product to consumers. You can u...

The third stage in the Product Life Cycle is the maturity stage. If your product completes the Introduction and Growth stages then it is likely to spend a great deal of time in the Maturity stage. During this stage sales grow at a very fast rate, then gradually your market share will begin to sta...

The product development cycle is a part of the product life cycle.

The product development cycle focuses on the planning, development and evaluation of a product. The product life cycle looks at the performance of the product in the market and its market share.

The product de...

To begin Market Research and Competitive Analysis should be carried out, to get an understanding of the market, and the key players in them. This research will need to answer questions such as:

• Who are your target audience?
• Is there a need for the product? Can it be validated b...

Simply put this is when the product be it software or hardware is built.

You will need to management resources and development to deliver a working product, that contains the core features for success in a timely manner. This will ensure a great product release, and will enable you to evalu...

Use Key performance indicators as metrics to measure the success of the product.

Key Metrics Measure For Product Success:

• Cost of Acquisition
• Revenue
• Rate of Revenue Growth
• AARRR Metrics:
• Acquisition
• Activation
• Retention

This stage is very much the same as the Introduction stage of the Product Life Cycle.

Launching the product involves letting your target audience the product is live. This can be done with Press Announcement & Interviews, advertising, creating public launch events etc.

So...

The Growth stage is where the market share of product starts to grow. Often at this stage a large amount of money is spent on advertising. You want to focus your advertising campaigns at your target audience and existing customers, and sell the benefits of your products to them. There are several...

The Product Life Cycle is the set of commonly identified stages in the life of commercial products. The stages which a product cycles through during its lifespan are: Development, Introduction, Growth, Maturity and Decline.