December 2020
Intermediate to advanced
270 pages
8h 8m
English
Content preview from Innovation and New Product Planning
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10
Life Cycle Management
After launch, the product begins what is termed “the product life cycle.” The product development team is discharged at this point, if it has not already been discharged before launch, and a product management team (which in many cases had launch responsibility) takes over the responsibility for the product.
The product management team will focus on the life cycle management of the product, that is, ensuring that the product reaches its full potential as a particular product item or emerging product line in the company’s product mix. Associated with reaching this potential are decisions about fine-tuning the product’s marketing strategy, defending against competitors, and continuous innovation of the product, if feasible. ...
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