Exploit the Product Life Cycle
hbr.org
Bringing a new product to market is fraught with unknowns, uncertainties, and frequently unknowable risks. As the rate of consumer acceptance accelerates, it generally becomes increasingly easy to open new distribution channels and retail outlets. One of the greatest values of the life cycle concept
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- Bringing a new product to market is fraught with unknowns, uncertainties, and frequently unknowable risks.
- As the rate of consumer acceptance accelerates, it generally becomes increasingly easy to open new distribution channels and retail outlets.
- One of the greatest values of the life cycle concept is for managers about to launch a new product. The first step for them is to try to foresee the profile of the proposed product’s cycle.
- In entering the market development stage, pricing decisions are often particularly hard for the producer to make. Should he set an initially high price to recoup his investment quickly—that is, “skim the cream”—or should he set a low price to discourage potential competition—that is, “exclusion”?
- “The trouble with being a pioneer is that the pioneers get killed by the Indians.”
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