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Program evaluation of product life cycle (PLC) addressed within problem statement

  • 1.  Program evaluation of product life cycle (PLC) addressed within problem statement

    Posted 06-11-2019 15:51
    The PDMA within Chapter 7 of the Product Development and Management Body of Knowledge (Anderson, 2017), provides a working PLC framework of two parts:
    Part 1: Product life cycle management (PLC) including the life of the product from the initial market introduction to its final death and management strategies at each stage of the life cycle. Specific emphasis is placed on a "go-to-market" strategy for the introduction phase of PLC.
    Part 2: Sustainable product innovation including the importance of sustainability to product innovation and product management and life cycle assessment (LCA) from a sustainability perspective.

    To help focus PLC and sustainability issues, I propose addressing within a problem statement. Poor performance in businesses meeting market demands is a factor, with forty percent of aftermarket product innovations fail to meet commercial objectives (Castellion & Markham, 2013). Unable to capitalize on the new market offering opportunity; although, innovation and NPD account for 50% of firms' annual revenue (Du, Leten, Vanhaverbeke, & Lopez‐Vega, 2014). What ways has program evaluation of product life cycle (PLC) and or sustainability been used to assess underperformance of firm's leaders new product development (NPD) return on investment (ROI), and sift complex solutions for best practices adoption?

    References

    Anderson, A. M. (2017). Product Development and Management: Body of Knowledge: PDMA.

    Castellion, G., & Markham, S. K. (2013). Perspective: new product failure rates: influence of argumentum ad populum and self‐interest. Journal of Product Innovation Management, 30(5), 976-979. doi:10.1111/j.1540-5885.2012.01009.x

    Du, J., Leten, B., Vanhaverbeke, W., & Lopez‐Vega, H. (2014). When research meets development: antecedents and implications of transfer speed. Journal of Product Innovation Management, 31(6), 1181-1198. doi:10.1111/jpim.12249



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    Richard Lefrandt
    Full Time Student
    DDiDDS LLC
    Seattle WA
    2063692456
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  • 2.  RE: Program evaluation of product life cycle (PLC) addressed within problem statement

    Posted 06-21-2019 17:27
    Hi Richard,

               I really like the topic of this question, I believe that one of the worst problems we have in market when launching new products after NPD process is that feedback fro market about products is not fully understood or not deeply investigate using a deep dive into consumer insights which lead to failure in meeting market demand. One of the main issues that has been seen here in the Egyptian market forexample is that several companies are justifying this kind of failure that the market is immature and that trying and propping new products is the only way to have better understanding of the market itself.

    I believe that having a formal process inside each company that utilize knowledge management of product life cycle based on new product developments and product launches and feedback in market can actively enhance the NPD process and show where/at which point the process needs to be adjusted or enhanced to support having better ROI for New products.

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    Seif Abdelghany
    Local Category Manager
    Electrolux Major Appliance
    10th of Ramadan
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    Original Message