Product Management Life Cycle : Product Life Cycle Analysis and Marketing Strategy - a product marketing tool to optimize your marketing mix. Gain competitive advantage, increase market share and maximize your Return on Investment with The Cannon Advantage.

Declining profit margins ruining your performance review?  Are you a business owner struggling to meet your goal?  Maybe it's time to revisit the Product Life Cycle, modify your marketing mix strategy, increase market share and enhance your Return on Investment by using Product Marketing Management to turn your product into a cash cow.

Whether a business owner, Product Manager or Market Manager, step back from the pressure of monthly goals, quarterly objectives and annual budgets: Take a long hard look at how to increase profitability and ROI over the life of the product, brand or industry.  Business success and profitability are tied directly to product management and where a product is in the Product Life Cycle. Marketing advantage can be gained from an accurate business assessment of where your product is on the Product Life Cycle Graph. 

All products have a product life cycle.  In the product introduction or early stages, the product is a problem solution and prices are high, margins are high and order volumes are low.  As acceptance of the product grows, the prices and margins start to come down while order volume increases.  Achieving economy of scale in production reduces the product cost, making it more accessible to customers and resulting in a growth phase.  As market saturation is approached, the growth rate tapers until the product reaches maturity with low prices, low per unit margins and relatively flat sales.  It is important to know where your product is in its life cycle, as different stages require different product strategies.

Just as a product has its own life cycle, it also has an almost opposite curve called the commodity slide.  In the introduction stage of the commodity slide, volume is low and revenue per unit sold is very high.  As progress on the learning curve is made, costs are reduced, making the product more affordable to more customers and increasing volume.  The increasing volume that develops in the early stages of the commodity slide also draws additional competitors. Businesses strive to increase market share to achieve enough volume to justify more automated processes.  As volume increases and revenue per unit decreases, the product moves from specialized solution to commodity status.

The Product Life Cycle and the Boston Matrix are just two tools that can help understand what is happening to the business and help to develop an appropriate business strategy for product positioning to ensure that the business optimizes the ROI over the life of the product and can support investment for future business survival.

Cannon Advantage offers consulting services and training seminars to help you assess where your products are and develop a Product Life Cycle strategy to gain competitive advantage and improve Return on Investment ROI.  Call today and let's get the product marketplace working for you!

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"The position of a product on the product life cycle graph is critical to your business success." Different strategies apply at different stages of the life cycle. Knowing what to do at each stage can mean the difference between profits and losses. Cannon Advantage offers an online Product Life Cycle Training program to help you determine where your product is on the product life cycle and some marketing strategies to enhance your overall profitability.

Training covers: new product life cycle, product launch strategy, stages of product lifecycle, product life cycle graph, strategtic management of product life cycle, growth and decline (commodity slide) curve analysis, product life cycle marketing strategies and more!

Sign up for Product Life Cycle E-Training NOW!