...System Development Life Cycle This paper will begin with discussing the development of a custom application and the selection of proprietary systems. The system development life cycle has evolved over the years in response to changing scenarios and pattern shifts pertaining to the building or the inquiring of new software. The Life-Cycle has also gone through iterations of different names and a number of different steps (McMurtrey, 2013). The SDLC has been called one of the two dominant system development used today, along with prototyping (Piccoli, 2012). Many SDLC frameworks exist; however, most have four general stages which are planning and analysis, design, implementation, and support and evaluation (Wager & Lee, 2006). Each stage has tasks that need to be performed. The main focus of planning and analysis is the healthcare organizations strategy. Problems are identified and selected as opportunities for business improvement. Within this stage, the organization will determine whether a new system is needed and is the business financially able to invest in the development of this new system. If the business determines that the system is needed, it will need to determine the users of the system need and requirements. The business should get a system that will specifically help meet the goals of the company. The second stage is the design stage where the business considers all options ( (Wager, 2009). In this stage, alternative solutions to different problems are...
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...Life Cycle A product life cycle is a cycle that all products go through from introduction through demise and possible rebirth. There are five stages to the product life cycle: embryo, growth, maturity, decline, and although rare, rebirth. Each of the five stages is a mixture of product, pricing, distribution and promotion. The embryo stage aka introduction stage of the product life cycle is where a new product is launched into market. During this stage there is heavy marketing, product promotion, limited supply and sales are slow and difficult. Manufactures spend a lot to “educate” the public. In this stage the goal is to let people know of the new product and not primarily to make money. Electric cars and hybrids are definitely innovative and appealing. Consumers could not have known that gas was not the only way to fuel your car. Pass or play. Introduction was a success. In the growth stage, the market has accepted the product. Marketing efforts have boosted sales beyond original target market, therefore brand loyalty starts to build and sales increase, as do costs, including staffing. The good news is that profits increase because greater quantities are produced, lowering the cost per unit. The downside is current manufacturing facilities and equipment may not be able to keep up with demand. The Amazon kindle is currently in the growth stage. The idea of having hand-held technology larger than a smart phone but smaller than a full-sized tablet is new. ...
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...Life cycle assessment is internationally used to assess the potential environmental performance of a product from an initial concept to the end of the products life. LCA considers five main areas that include resources, manufacturing, distributions, use, and end of life. Since all products are in some way harmful to the environment, lifecycle analysis helps to determine which products are most harmful based on the resources, energy, and carbon consumed over a products life. Life cycle analysis takes into account the impacts on the environment at each stage of a product’s life cycle, and highlights the stages where it is the most largely affected, which means that more time can be spent designing solutions, rather than finishing the project...
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...Life Cycles PAT 8 / ISO 14000 Well, as I just mentioned in my paper on process variables, I am only beginning to analyze the cooperate world… and this look into the life cycle of products and services has been another opportunity for me to do some serious pondering… leading me to question what it is I am getting myself into. Here’s the thing, it seems sustainability is something that everyone is incapable of understanding. I’ll explain. I’m a person who is looking for a career in energy conservation and environmental engineering… but (and this is off topic and regarding PAT 5) when I stop into FVTC’s engineering department and ask a general question like, what are some environmental standards a company might adhere to… I’m pointed towards Kimberly Clark as an example to follow. Things like this are frustrating to me. Can we not see the irony of recommending a company that makes its money creating a product that will only be used once before being discarded, as an example to follow in regards to adhering to environmental standards? Or anything else for that matter… How are we supposed to come up with fresh ideas to move forward, if this is the template with which we base our success? Are we unable to see this is a company that is inherently unsustainable and always will be, no matter what they do..? I didn’t just say this to rip on Kimberly Clark either… and I’ll clarify why. This focus on product life cycles (and business strategy in general) is the perfect...
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...PRODUCT LIFE CYCLE Product life cycle is the stages through which a product or its category bypass. From its introduction to the marketing, growth, maturity to its decline or reduce in demand in the market. Not all product reach this final stage, some continues to grow and some rise and fall. Contents • 1 Stages of product life cycle o 1.1 Introduction o 1.2 Growth o 1.3 Maturity o 1.4 Decline • 2 See also Stages of product life cycle Introduction This is the stage of low growth rate of sales as the product in newly launched in the market. Monopoly can be create depending upon the efficiency and need of the product to the customers. Profits are nonexistence as the expenditure is high at this stage. If the product is the new product class, the users may not know the true potential, so in order to achieve that place in the market extra information about the product should be transfer to its user through various medium. Growth Growth comes with the acceptance of the innovation in the market and profit starts to flow. As the monopoly still exists manufacturer can experiment with its new ideas and innovation in order to maintain the sales growth. It is the best time to introduce new effective product in the market thus creating an image in the product class in the presence of its competitors who tries to copy or improve the product and present it as a substitute me. Maturity In this the end stage of the growth rate, sales slowdown as the product have already achieved...
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...Product can be a good or a service that can satisfy the needs and/or wants. The product life cycle consists of five stages which are product development, introduction, growth, maturity and decline stage. Product development is the research and development stage of getting the product made before its launching. The company could make a test trial and quality control of a product. The next stage is the introduction stage which is the initial launch of a product. In some cases, a company might even do pre-advertising, pre-ordering or press release before the product is available on the market. The next stage is growth. It is the stage in which people recognise the product and demand started to grow. The next one is maturity stage. This is when the product hits best point of the sale. This stage is stable as people already know about the product. Therefore, a company might not try to entice anyone but they might want to increase market shares or break into international market or different market. After that, the product hits the decline stage. It might be a gradual decline or a big drop. For example, when Apple was at the first stage of the product life cycle of an Iphone, they might try to define the problem and find out the needs and wants of the people. They might also investigate the different types of materials that could make up the touch screen. Then, they usually create press release and advertise the Iphones. When they first launched the product, they used price skimming...
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...the well being of both adults and children; this includes calcium, vitamins A, B & D. The history of milk began in the Neolithic age (the new stone age), a time when humans started the transition from hunting and gathering to a more settled way of life. Life Cycle of Milk Supply Chain: Environmental and societal impact of Milk; The dairy industry poses a number of challenges to the health of the environment- * Methane emission- this is release from cows’ during the digestion process either by belching or flatulence. Statistics vary on how much methane an average dairy cow expels on a daily basis. Some experts say 100 liters to 200 liters, while others say it's up to 500 liters a day. This amount of methane is comparable to pollution expelled by a vehicle * Carbon emission- according to studies carried out by the U.S dairy carbon footprint study, it showed that carbon footprint of a gallon of milk is approximately 17.6 pounds of carbon dioxide equivalents. This will usually occur during milk freight and distribution. * Water pollution-Disposal of organic wastes without treatment leads to pollution of water resources hence, causing a rapid growth of microscopic algae that kill fishes and other aquatic life. Furthermore, ammonia released from manure can lease to acid rain causing environmental harm. * Land conversion - The dairy industry is also responsible for majority of land conversion, particularly in the tropics, to grow the feed...
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...Product Life Cycle Introduction The theory of product lifecycle is one of the key components in the subject of marketing study. After Vernon put forward the theory of product lifecycle in 1966, it is widely used by companies to design marketing strategies, predict longevity of products and make product management. This essay is divided into three sections. In the first section, several definitions of product lifecycle and one explanation of the course of product lifecycle are presented. In the second section, strengths and weaknesses of product lifecycle are analyzed to point out what is the proper situation of adapting the theory of product lifecycle. In the third section, two case studies are provided to illustrate how the theory of product lifecycle drives marketing strategies. The abbreviation PLC will be used for product lifecycle throughout this paper. Definitions In this section, a number of definitions of product lifecycle theory are provided and an outline of the stages of PLC is demonstrated. According to a prominent researcher in strategic marketing, the PLC is “a generalized model of the sales trend for a product class or category over a period of time, and of related changes in competitive behavior.” (Buzzell 1966; Brassington & Pettitt 2000) The definition states that PLC provides a basic model for organizations to manage products and that sales and time are the two factors to change the period of products. Another definition defines PLC as “ a concept...
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...1. Five (5) phases of SDLC that the business organization must go through in order to develop the new system. Provide an illustration to show the Waterfall model of System Development Life Cycle (SDLC). SYSTEM PLANNING SYSTEM ANALYSIS SYSTEM DESIGN SYSTEM CONSTRUCTION AND IMPLEMENTATION SYSTEM MAINTENANCE Diagram: System development life cycle Waterfall Model System Development Life Cycle is used to organize activities needed to build a system to assist management by providing reports on project status and keeping track of resource needed. It assumes that all activities are performed in a strict sequence. One phase must be completed before the next activity can be carried out and that no phase is to be repeated. However, the linear systems development life cycle is subjected to a number of critics which are the real information systems project rarely follow such a simple sequential cycle. Phases may be overlapped and activities may have to be repeated. Alterations are needed as inadequacies in the analysis phase mat become evident only during the design, construction or implementation phase. A great amount of time may have elapsed between the preliminary investigation and the final implementation. Also, the new technology existence may not be possible to incorporate new technology without redoing the analysis and design work already completed. System planning Information system strategic planning is a set of long-term goals that describe the information architecture...
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...PRODUCT LIFE CYCLE SUBMITTED BY MASHHOODA MOHAMMED SHOEB KHAN BACHELOR OF BUSINESS ADMINISTRATION IN GENERAL FIRST YEAR - FIRST SEMESTER FACULTY GUIDE-MRS PRIYANKA CHANDANANI ASSISTANCE PROFESSOR – ECONOMIC ACKNOWLEDGEMENT I would like to express my special thanks of gratitude to my faculty guide Mrs Priyanka Chandanani who gave me the golden opportunity to do this wonderful topic Product Life Cycle which also helped me in doing a lot of research and I came to know about so many new things. I am really thankful to her Secondly I would also like to thank my parents and friends who helped me a lot in finishing this project within limited time I am making this project not only for marks but to also increase my knowledge THANKS AGAIN TO ALL WHO HELPED ME ABSTRACT The product lifecycle model can be understood as a three-stage model of technological development associated with a particular product technology. In the explorative stage many different designs are developed, in the development stage products become standardized into a dominant design, and in the mature stage only incremental changes occur within the dominant design. Although the product lifecycle model is widely accepted and often applied in empirical research, innovation...
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...Product Life Cycle-------Nick Combs The concept of product life cycle concerns the life of a product in the market with respect to business/commercial costs and sales measures. The product life cycle proceeds through multiple phases, involves many professional disciplines, and requires many skills, tools and processes. Product life Cycle management makes three assumptions. They are: Products have a limited life and thus every product has life cycle. Product sales pass through distinct stages, each posing different challenges, opportunities, and problems to the seller. Products require different marketing, financing, manufacturing, purchasing, and human resource strategies in each life cycle stage. The product life cycle is broken down into 4 stages. The first is the market introduction phase. In this phase, cost are very high, there is very small competition, customers have to introduced to the product and there is very little profit. The second stage is the growth stage. Here, costs are reduced due to economies of sale, you begin to see a profit, consumers are aware of the product, there is more competition which leads to decreases in price. The third stage is the maturity stage. Costs are lowered as a result of production increasing and experience, increase in competitors in the market, and industrial profits start decreasing. The last stage is the saturation and decline stage. Here we have sales declining, profitability falls due to an abundance of competition and costs...
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...JOEL REG //: 2015010034 NAME: STEPHEN L SULTAN REG //: 2015010035 LECTURER’S NAME: Dr. JANETH ASSIGNMENT N0 1 Describe the stages of the product life cycle and how marketing strategies change during the product life cycle. INTRODUCTION All products and services have certain life cycles. The product life cycle refers to the period from the product’s first launch into the market until its final withdrawal and it is split up in phases. During this period significant changes are made in the way that the product is behaving into the market i.e. its reflection in respect of sales to the company that introduced it into the market. Since an increase in profits is the major goal of a company that introduces a product into a market, the product’s life cycle management is very important. Some companies use strategic planning and others follow the basic rules of the different life cycle phase that are analyzed later. The understanding of a product’s life cycle, can help a company to understand and realize when it is time to introduce and withdraw a product from a market, its position in the market compared to competitors, and the product’s success or failure. For a company to fully understand the above and successfully manage a product’s life cycle, needs to develop strategies and methodologies. The product’s life cycle - period usually consists of five major steps or phases: Product development, Product introduction, Product growth, Product maturity and finally Product decline...
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...Understanding the Product Life Cycle (PLC) is of critical importance to a firm launching a new product. It helps a firm to manage the risk of launching a new product more effectively, whilst simultaneously maximising the sales and profits that could be achieved throughout the product's life cycle. 1. What is the product life cycle? The PLC indicates that products have four things in common: (1) they have a limited lifespan; (2) their sales pass through a number of distinct stages, each of which has different characteristics, challenges, and opportunities; (3) their profits are not static but increase and decrease through these stages; and (4) the financial, human resource, manufacturing, marketing and purchasing strategies that products require at each stage in the life cycle varies (Kotler and Keller, 2006). Whilst there is a common pattern to a product's life cycle, which is bell-shaped in nature, this pattern does vary depending on the specific characteristics of a given product. These life cycle patterns are illustrated and discussed in the subsequent section. 2. What are the main aspects of the product life cycle? The typical PLC consists of five main aspects: (1) product development; (2) introduction; (3) growth; (4) maturity; and (5) decline. In the diagram below, the respective sales (in red) and profits (in blue) across these five stages are illustrated. Figure 1 The PLC begins with product development, during which time the firm devises and creates...
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...Product Life Cycles Consist of Four Stages The Product Life Cycle | | If we plot a product’s sales over its life in the market place, the resulting curve looks much like the "S" shape curve depicted in Exhibit 1. This is the product's life cycle and it can be divided into four distinct stages: introduction, growth, maturity and decline. Introduction Stage Introduction begins when the product is first made available for commercial sale. During the introduction stage the product's sales are relatively low and slow to accumulate because it takes time to roll the product into multiple geographic markets, convince wholesalers and retailers to stock and sell the product, and to generate sufficient levels of customer awareness, interest, and trial. Overall, demand generally remains low during this stage. Growth Stage Eventually, as the product becomes more widely available and is adopted by more and more consumers, sales begin to grow at an increasing rate. It is at this point that the product has entered its growth stage. Sales continue to grow at an accelerated rate until the market approaches saturation i.e. the pool of potential customers for the product becomes depleted. As this saturation point is approached, the sales curve begins to tip over -- the rate of sales growth tends to decelerate. At this point, the product transitions into its third stage -- maturity. Maturity Stage Sales continue to grow during the first part of the maturity stage, although the growth...
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...The concept of product life cycle is used by marketers to depict the path that a typical product takes, from its initiation to its decline. It serves as a straightforward and powerful guideline that describes a product’s life as it proceeds from its introduction stage to the growth stage, the maturity stage, and finally, the decline stage. However, not all products follow every stage of the product life cycle, and it is often difficult to tell which stage a product is at. Moreover, a product’s life cycle is not independent from other factors such as marketing decisions and therefore is subject to change. For these reasons, the product life cycle theory is difficult to be applied in real life. First of all, many products often do not undergo every stage of the product life cycle. A new product may enter the decline stage quickly after its introduction without even reaching the maturity stage. For example, MiniDisc players entered the market in the early 1990s, gained popularity in the mid 1990s especially in Japan, but then quickly disappeared from the market before reaching its maturity stage. The main reason for its abrupt decline was technological advance and shift in market trends, as more convenient MP3 players were introduced and people quickly moved away from MiniDisc players. Secondly, it is difficult to tell which stage a product is currently at. Product life cycle function is a relation between time and sales, and none of these variables is definite. The time that...
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