Product Life-cycle introduction- Vòng đời sản phẩm

Phase 1. New product identification
– Review Customer survey, customer, feedbacks
– Gather data/information from industry journals, magazines, blogs
– Attend conferences
– Gather input from Sales and Support Team

Phase 2. New Product Definition
– Define High-level specifications (Functionalities, Wireframes, Mock-up, document requirements …)
– Develop business case:
+ Problem statement (what?)
+ Cost & Revenue stream?
+ Customer segment

Phase 3. Product Development
– Create detailed specifications, documents, product prototype
– Develop and test prototype with the customer, receive feedback, and correct
– Obtain customer feedback
– Get market feedback and finalize the product

Phase 4. Product Launch and Growth
– Develop documentation for Sales & Services
– Provide support for Sales & Services Teams

Phase 5. Product discontinuation
– Decide on discontinuing the current product
– Start planning a new product launch

Tool: Marketing Mix aka 4Ps – Product (features), Price, Promotion, Place/Distribution