BUS 528 Week 2 Assignment A-2

Assignment A-2
Chapter 2 ideas- The Project Environment

Above is a typical product lifecycle and adoption curves.

I would like to use the volume, cost, sales, and profit as the stages difference that include:

1. Introduction - costs are high and sales volume is low.
2. Growth - sales volumes increase significantly and profitability begins.
3. Maturation - sales volumes reach their peak and profits flatten.
4. Decline - sales volumes decline and profitability diminishes

Depending on the conditions surrounding a product, its life cycle may last months or decades. Adoption rates vary depending on such things as:

1. recognized advantages,
2. price and operational costs,
3. substitutes,
4. promotional marketing efforts,
5. risk.

Now why is Product Development Life Cycle important?

1. helps to open new markets
2. expand sales of current product categories
3. reposition a company or organization.
4. improve profitability.

Product development efforts will bring fruitful return to expand their market presence and allow for more selling opportunities.