Functional analysis: studying a product's life cycle

You have been asked to carry out a functional analysis of a product manufactured by your company. You have been instructed by your superiors to :

• Identify the issues at stake in the study (triggering factor, duration of the study, level of detail of the study) ;

• understand the commercial, marketing and financial environment through a study of the competition (cf. Study the competition sheet for a functional analysis of a product [FIC 0621] );

• understand the product, the user's perception of your product and what they expect from your product.

The link between the use of a product, the trade in it and the profits it generates will help you understand the issues at stake in your study:

• the level of investment risk ;

• the finesse of the functional analysis and the level of detail required;

• the financial potential available to you.

A product has different life phases. Over time, user needs evolve; it's up to you, with the help of your marketing and sales departments, to detect changes in market behavior and develop your product. The objectives of this sheet are to enable you to :

• identify product life phases;

• better understand the chronology of your product;

• anticipate a functional analysis before product decline;

• maintain or increase the profits generated by your product.