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  • BijinV replied to the topic Product Life Cycle in the forum Introduction to Project Management 8 years, 2 months ago

    I tend to agree with Agnieszka’s assessment of product life cycles. While the need does not decline, the product that fulfills it will eventually go through all the phases of its life cycle, including decline. While it can be argued that even such basic staples of everyday life may not seem to go into decline, careful analysis does show that there are always new market entries. What allows for these new market entries is the shifting social and technological climates. As new consumer needs emerge (such as environmentally friendly products) and new technologies (semiconductor technology improving microprocessors) an opening appears for new products to enter into the fray. And the success of said new entry can expedite the decline of another established product.