
Beyond the Product Life Cycle: Limitations & Insights
After publishing a post about the product life cycle, I recently discussed the topic with an ex-colleague. His perspective was clear: he views the product life cycle as too theoretical, describing it as more of an academic framework than a practical tool for day-to-day business. This prompted me to revisit the concept, carefully examining its limitations and reflecting on its practical relevance. Limitations of the Product Life Cycle Theory The product life cycle (PLC) is far from a flawless model. While it offers a general framework to explain the patterns of product sales development, only a subset of products adhere to its structured stages. Additionally, the duration of each stage varies significantly. Here are the most evident limitations specific to medical products: 1. Sales Data Dependency The PLC relies solely…