2. Linking the product life cycle to the financial aspect
Find out where each of your company's products is in its life cycle. This enables you to prioritize the development strategy for a product that is particularly strategic for your company, in order to guarantee sales and profits.
The life cycle of a product can be likened to the life cycle of a living organism. It comprises five phases.
2.1 Phase I: birth or introduction
This is the period when the product is introduced on the market. Profits are negative, gradually absorbing previous investments from conception to sale. In monopolistic or oligopolistic markets, you may run into particular problems.
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Linking the product life cycle to the financial aspect
Link your company's players to your product's specific needs
Bibliography
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Regulatory references
AFNOR NF X 50-100 November 2011: Value Management – Functional analysis, fundamental characteristics – Functional analysis: functional analysis of needs (external) and technical/product functional analysis (internal) – Requirements for deliverables and implementation procedures
AFNOR NF X 50-151 September 2007: Value Management – Functional expression of need...
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Acronyms and abbreviations
AF: functional analysis
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