Life Cycle and Portfolio Management Product Life Cycle Management Lifecycle management steers the process in which a concept evolves into a new service, including the ensuing production phase and the phase in which a service is closed down
The Life of Sir Viss at an NREN • The cool open source tool Sir Viss is announced • A NREN staff member untars the piece and gets Sir Viss running • He shows Sir Viss to some colleagues at University IT departments • He convinces his boss, that Sir Viss is cheap to operate and that Universities are interested in Sir Viss • So Sir Viss becomes the official status as an NREN Sir Viss • And Sir Viss lifes forever
Introduction stage Building service awareness and develop market for the product:
Services Sales
Product: branding and quality level established, Pricing: low penetration pricing or high skim pricing Distribution: selective until the product is accepted Time Introduction Growth Maturity Decline
Promotion: aimed at innovators and early adopters – building awareness and learning
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Growth Stage Building the brand preference and increasing the market share:
Services Sales
Product: maintaining the quality, additional features and services may be added Pricing: maintaining the initial strategy Time Introduction Growth Maturity Decline
Distribution: new channels are added, demand is increasing Promotion: aimed at broader audience
Sale is declining so there are several options: Maintain the product, possibly rejuvenating it by adding new features and finding new uses Time Introduction Growth Maturity Decline
Reduce costs and continue the offer Discontinue the product
