Please enable JavaScript.
Coggle requires JavaScript to display documents.
Product life cycle of electronics - Coggle Diagram
Product life cycle of electronics
products rarely stay on the market in their original form forever- their life cycle progresses through 4 stages
Growth
once a product is on the market its expected that its sales will grow as consumers seek to replace older models & purchase newer ones
advertising plays key role - ensure consumers are fully aware of benefits of new version
Introduction
stage when product is being launched - usually preceded by publicity, particularly regarding
how it supersedes previous models
e.g. the TV & video adds for apple products espec phones
sometimes products are evolved in response to the 'demand pull' of consumers
for desirable features - e.g. improved battery lie, larger memory
manufactures sometimes try to capitalise on the large amounts spent on research through the 'technology push' approach
trying to convince consumers that they need to buy the latest model with the most up-to-date features
Maturity
growth in sales will peak as the product is perceived as desirable
important for companies to maintain this stage as long as possible - maximise sales
maximising sales is important because the product wont become profitable until the money invested in its research, development & new tooling is recuperated
Decline & replacement
sales begin to diminish as consumers will have bought it by now & its been on the market for a significant time they will begin to anticipate replacement models
eventually it will be drawn form sales - by this point the replacement model should be growing in its sales
need for replacement products comes from factors such as;
unavailability of spare parts
being unable to run the latest software
premature failure/planned obsolescence
planned obsolescence
concept that companies are designing & manufacturing products in a way that means they have to be replaced on a regular basis
apple phones slow considerably after a couple years use
Evolution of products
the gradual change that occurs in products as designers & manufactures start to progressively incorporate new ideas, materials, technologies, manufacturing methods & other aspects that offer scope for improvement & increased sales
large companies have research & development (R&D) departments whose role is to explore & develop new ideas for products
can be very expensive but companies rely on their work to generate future sales
e.g. Apple spent $2.5 billion on R&D in 2016
examples of how products have evolved with creation of new features to maintain customer demand & thus ensure their profitability of their life-cycle is maximised;
smart phone
higher definition cameras, more powerful processers, larger screens, latest connectors, subtle changes in shape & form, alternative finishes, larger memory, etc
TVs
slim design, LED, organic light emitting diode (OLED), thinner screen, 'smart' capability, HD, curved screen, etc
high end digital cameras
increased pixel count, faster speed for bursts of shots, articulated screens, electronic viewfinder, HD movie capability, water resistance, multiple card capacity
Battery directive & WEE directive
important directives that inform how to dispose of batteries & electrical equipment at the end of its life
see national & International standards in product design
