Buy custom Evaluate The Usefulness Of The Product Lifecycle To A Firm
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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 640 |
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The concept of extension strategies illustrates the usefulness of the product lifecycle as a method of analysing a firm's current position in the market. It allows a firm to 'milk' a product, in this they can obtain the maximum number of sales in the maximum length of time. Without the Product extension strategies would be harder to plan and implement because for them to be effective they must be used at the correct time...
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Without the Product extension strategies would be harder to plan and implement because for them to be effective they must be used at the correct time. The Product Lifecycle identifies when this time is.
In closing, (as with the Boston Matrix) the usefulness of the product lifecycle depends on how well the information it shows can be interpreted or acted upon within a firm...
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