2014-managing products along life cycle
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Managing Products Along Life Cycle
Dr.Sanjay Patro
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AgendaDifferent stages of PLC
Competition in different Stages and Challenges
Pros and Cons of being a Pioneer
Pros and cons of being a FollowerKnowing where are you in the PLC
Limitations of PLC Concept
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Product Life Cycle
Different stages of PLC
Challenges Before the Pioneers
Diffusion of Innovative Products
Adopter Categories
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Challenges before the Pioneers
What are the Challenges before the Pioneers?
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“This season there is some thing at the seaside worse than sharks, declared a news paper in 1890
in 1893 and the etiquette of being photographed by a woman had not yet been established. Female photographers were nicknamed 'Kodak fiends.'
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Adopter Categories
Innovators
Early Adopters
Early Majority
Late Majority
Laggards
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What are the advantages of being a Pioneer?
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First Mover Advantages
1. Experience Effects
2. Patents as barriers
3. Access to best of the resources
4. Switching Costs as Barriers
5. Market share penalty for later entrants
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Ideas, messages and products spread like virus after a point
– Malcom Gladwell
The Tipping Point-It is the moment of critical mass or the threshold.
Value of the first fax machine
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Free Rider Effects
1. Lower Costs of Incubating the Market
2. Technological Leapfrogging
3. Learning from other’s Mistakes
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Options before pioneers
1. Obtain Patents
2. Match/Surpass Product features of followers
3. Do what the imitators are planning to do
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AgendaDifferent stages of PLC
Competition in different Stages and Challenges
Pros and Cons of being a Pioneer
Pros and cons of being a Follower
Knowing where are you in the PLC
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Product/Service Bundle for products that requires maintenance and repair support
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In which industries sale of spare parts and after sale support far exceeds the sale of product itself ?
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Managers need to focus on the profitability in its entire PLC than at the time of transaction
Strategies to tap into stream of after sale profits
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How do you decide what stage of lifecycle your product is in?
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Different Levels of Product
Product Category Level
Product Form Level
Product Brand Level
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What is happening to PLC over a period of time?
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Case of Scissors
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Criticism of the Concept
1. Not an independent variable
2. What is the product-market for analysis
3. Self Fulfilling Prophecy
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Product Managers shouldn’t blindly plan their marketing strategy around the classic PLC.it is not unusual for products to gain “second lives” or even “reincarnation.” Number of PLC Patterns have been found
Exploit The Product Life Cycle—Theodre Levitt, HBR 1965
Forget the Product Life Cycle
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Thank You