Concise yet comprehensive, Product Planning Essentials addresses the complex, interdisciplinary nature of product development and product management. It covers strategic issues that emerge during the product life cycle, including identifying opportunities, idea generation and evaluation, technical development, commercialization, and eventual product dismissal. Special topics include public policy, international issues, and intellectual property. An interesting summary of product development best practices from several companies appears at the end of the book. Instructors, students and practitioners will appreciate the balanced managerial and how-to orientation.

Life Cycle Management

Life cycle management

After launch, the product begins what is termed the product life cycle. At this point, the product development team is no longer responsible for the product, and a product management team takes over (in many cases, this transition in responsibility takes place before launch).

The product management team focuses 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 concerning fine-tuning the product's marketing strategy, defending against competitors, and continuously innovating the product, if feasible. Brand management considerations also persist after product launch.

The Product Life Cycle

The product life cycle is a concept ...

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