Which lifecycles are useful for your products?
In theory, the concept of a product lifecycle is quite straight forward – products launch, grow, mature, and die. But that’s a bit too simplistic.
There are a whole variety of ways different product lifecycle models can be used – with MVPs and Optimum products, the concepts of break-even point and payback, and how you manage the launch and end-of-life stages of a product.
We’ve produced an infographic that runs through 4 lifecycles as examples of how activities can change depending on what is appropriate for your product.
We have provided a great starting point to get you thinking about the different lifecycles that could be appropriate for products in your business.