Product Life Cycle, Technology Life Cycle and Market Life Cycle: Similarities, Differences and Applications

Marzieh Shahmarichatghieh, Arto Tolonen and Harri Haapasalo
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Marzieh Shahmarichatghieh: University of Oulu, Finland
Arto Tolonen: University of Oulu, Finland
Harri Haapasalo: University of Oulu, Finland

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Abstract: The conference paper is a literature review for investigating three concepts: Product Life Cycle, Technology Life Cycle and Market Life Cycle. The aim of the research and comparing the three life cycles is promoting efficiency of strategic decision making in product development area. The concepts are exploring mostly based on the high tech industry specifications. Product Life Cycle illustrate the fluctuations of the product sales revenue over time, from the beginning of its design to the last phase of its ramp down. While, Technology Life Cycle demonstrates the cumulative product development projects of a technology or technology performance over time, which could represent the technology maturity level in various periods of time. Subsequently, Market Life Cycle represents appearance and developments of various market segments to market area of a technology. Apparently, each Technology life Cycle could contain various Product life cycles and each market life cycle could include different technology and product life cycles. Therefore market life cycle has more comprehensive view point and product life cycle is more detailed with specific product centric insight. But outcomes of each life cycle concept are different and making decision based on all of them together can lead to more optimized results.

Keywords: product life cycle; technology life cycle; market life cycle; product development (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:tkp:mklp15:1143-1151

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