Product strategies change at each point of a product life cycle. Describe how each strategy differs between introduction, growth, maturity, and decline.
(a). Product strategies change at each point of a product life cycle. Describe how each strategy differs between introduction, growth, maturity, and decline.
(b). Describe, with examples, why it is beneficial for operations managers to anticipate changes to products (demand, opportunities, products, volumes, mix, etc.)?
(c). Pick an organization currently in operations. Explain what type of process focus you view they adopt, and why you think they use that focus.
(d). Explain the use of a flowchart in operational design.
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The riskiest stage in the product life cycle is the Introduction stage. This is the stage within makes or breaks the company as the product is new in the market and the company does now know what responses it will get from customers and what counter strategies will the competitors use.
The stage in the Product life cycle in which the company earns the most profits is the Growth stage because in this stage more and more customers become associated with the brand and there is also no or minimal competition in the market.
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