I have been reading about Product Lifecycle quite much. Today I run across one really interesting post in LinkedIn, which is talking about Product Lifecycle, Market Lifecycle and Execution Lifecycle. Actually the post is an exception from the book Organizational Physics: The Science of Growing a Business.
Product lifecycle has these basic stages: Pilot It, Nail It, Scale It, Milk It, or at any time, Kill It. Not every product makes it through each stage. However, if a product wants to be successful, it must move successively through each stage.
As every product goes through lifecycle so does every market. The market lifecycle is segmented into the several groups of potential customers you’re selling to: innovators, early adopters, early majority, and late majority/laggards.
The basic stages of the execution lifecycle are: birth, early growth, growth, and maturity and from there things descend into decline, aging, and death. The execution lifecycle exists within a dynamic between stability and development.
“The lifecycle stage of the surrounding organization should generally match the lifecycle stage of the products and markets”
The Real Strategic Question You Should Be Asking
The strategic lesson that we can learn from this post is, we should ask the product/market/execution lifecycles: “Where are we now?” For example, if your product is in the Scale it stage, then place it to the Scale it section. So the next question should be: “What should our next strategic move be?”