Slides Adrienne Tan recently used in his discussion w/ mentees of The Product Mentor. The Product Mentor is a program designed to pair Product Mentors and Mentees from around the World, across all industries, from start-up to enterprise, guided by the fundamental goals…Better Decisions. Better Products. Better Product People. Throughout the program, each mentor leads a conversation in an area of their expertise that is live streamed and available to both mentee and the broader product community.

1. Lifecycle Management Explained

2. WHY IS PRODUCT LIFECYCLE
MANAGEMENT IMPORTANT?
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3. Every Product Has A Lifecycle
Time in
Market
End of
Life
Launch

4. The only time that
a product can
generate benefits
for customer and
the business is
during it’s time in
market.
Time in
Market
Yet in terms of
business focus the
Lifecycle Management
is often undervalued.

5. Instead businesses
over focus on the
Development and
Launch.
Launch

6. Resources Are Imbalanced
VS
Development
Team
Product Lifecycle
Manager

7. Business Focus Is Different
VS
Development
Team
Product Lifecycle
Manager

8. Business Contributions Are Different
VS
Development
Team
Product Lifecycle
Manager

9. Focus Of Lifecycle Management
Maximise return on
investment over
the life of the
product.
Know when to
retire the product
from the market.

10. THE PRODUCT LIFECYCLE
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11. Launch
Decline
Maturity
Growth
Introduction
Development
A Product Lifecycle Has Stages
End of Life

12. So… What Happens At Each Stage?
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13. Characteristics Of Introduction Stage
Slow sales - Grows over a long
period of time.
Low or no profitability – High
cost of production & promotion
to grow product awareness.
Pricing strategy important to
meet product and business
strategy.

14. EXAMPLE
Introductory Stage For Micro Payment Companies
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15. Characteristics Of Growth Stage
Rapid growth in sales – The
target market evolves as the take
up of product expands beyond
pioneers and early adopters.
Gross Margin may increase as
production cost per unit
decreases.
New competitors entering the
market.

16. EXAMPLE
The Iconic In Growth Mode
‘‘I am the most aggressive guy on the internet planet. I will die to
win and I expect the same from you!’’
Oliver Samwer – Iconic Co-founder
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17. Characteristics Of Maturity Stage
Product is commoditised or monopolised.
Growth in sales decreases.
Some competitors exit the market.
Substitutes appear.
Price of unit may be slashed to improve
market attractiveness.
Marketing spend typically increases.
May undertake more product improvement
initiatives to arrest decline.

18. EXAMPLE
Seek Is A Mature Product In Changing Market
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19. Characteristics Of Decline Stage
Sales drop significantly &/or rapidly.
Profits also decrease.
Price slashed further resulting in
further decline in profitability.
There are replacement products in the
market that solve the customer’s
problems better.
No marketing activity or development
efforts can arrest the decline.

20. EXAMPLE
Australia Post Letters
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21. MANAGING THE PRODUCT
LIFECYCLE
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22. Launch
Decline
Maturity
Growth
Introduction
Development
Moving From Stage To Stage Can Be
Hard
End of Life

23. Moving From Stage To Stage Can Be
Hard
Development
Some Products never
make it to Launch.
End of Life

24. Some
never get
accepted
by the
market and
fail early.
Introduction
Moving From Stage to Stage Can Be Hard
Launch
End of Life

25. Launch
Growth
Others start
to grow but
are unable
to become
profitable.
Introduction
Moving From Stage to Stage Can Be Hard
End of Life

26. So… What Approaches Can We Apply At
Each Stage?
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27. Market Approach For Introduction
Educate
Teach and communicate about the new
product to early adopters.
Early adopters are described as
“curious, adventurous consumers who
buy first, talk fast and spread the word
to others about the pros and/or cons of
what they have purchased.”
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28. Marketing Tactics For Introduction
Blogging
Trade Shows,
Video,
Various Social Media Channels,
Word of Mouth
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29. Market Approach For Growth
Compete
The product should appeal to a
broader group of the target market
who may have some understanding
of your product.
Competition increases and its
important to distinguish the value of
your product from the pack.
Acquisition marketing such as email
campaigns, Brand marketing such
as TVCs, Channel partnerships
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30. Marketing Tactics For Growth
Acquisition marketing such as
email campaigns,
Brand marketing such as TVCs,
Channel partnerships
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31. Market Approach For Maturity
Specialise
The product should be altered to
serve different purposes for niche
markets.
The business should consider
expansion into new geographic
markets.
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32. Marketing Tactics For Maturity
Targeted marketing campaigns in
niche locations, publications with
tailored content.
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33. Market Approach For Decline
Harvest
The existing customers should
be managed to exit.
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34. Marketing Tactics For Decline
Consider loyalty programs to
maintain existing customers.
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35. REMEMBER
Products must solve the target market’s
problems better than the competition!
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36. Questions?
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37. Connect with Brainmates
Brainmates Group
www.brainmates.com.au
Facebook.com/Brainmates
info@brainmates.com.au
@Brainmates
#prodmgmt
+ 61 2 9923 8147
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