One Size Doesn't Fit All: Embracing Variation in The Product Life Cycle

 One Size Doesn't Fit All: Embracing Variation in The Product Life Cycle

In the fast-paced world of business, a well-defined product life cycle is your roadmap to success! You may be familiar with the 7-phase product life cycle framework, but if you're not, we've included a quick refresher below.

1. Conceive
2. Plan
3. Develop
4. Qualify
5. Launch
6. Deliver
7. Retire 
   
   
   

Embrace The Flexibility

While the 7-phase framework is valuable, it's crucial to understand that a "one-size-fits-all" approach isn't always necessary. Companies focus on varying parts of the life cycle or offer an alternative, more tailored approach to the lifecycle that better fits with their business, products, and customers. Different approaches don't make them bad or incorrect.

After learning and understating the 7-phase product life cycle, the goal is to adapt the framework to align with your business needs. Our partners at Productside teach the Productside Blueprint (see the image below) to help companies navigate the product life cycle. Both the 7-phase product life cycle and the Productside Blueprint can be great tools for managing the life cycle of your product!

Tailoring a Product Life Cycle to Your Business Needs

Let's look at some real-world examples:

• Agile Startups: These companies prioritize rapid iteration and lean methodologies. They might condense the early stages, focusing on early development and continuously incorporating customer feedback to shape the product.
• Large Enterprises: With complex products, established companies may need to dedicate more time and resources to planning, development, and quality assurance. This ensures alignment with long-term business goals.
• Subscription-Based Businesses: Here, the emphasis shifts to continuous delivery and maintaining customer satisfaction. The product constantly evolves based on customer feedback and market trends to ensure subscriber retention and growth.
  
  

Understanding your chosen framework allows you to make informed decisions and optimize your product's journey. AIPMM's Product Manager Certification Program equips you with the skills and knowledge to successfully navigate the product life cycle.

By embracing the flexibility of a product life cycle and tailoring it to your specific context, you can create a strategic roadmap that drives innovation, customer satisfaction, and sustainable business growth in today's dynamic market landscape. 

Deepen Your Product Knowledge

For further exploration, dive into the ProdBOK, a comprehensive guide to maximizing product management success!