Comparison in Life Cycles of Market Product and Technology with respect to their application

Authors

  • YU Qinglin, YU Zhaohui, ZHANG Yuchun, WANG Lin,GUO Yun

Abstract

The research article is a literature review that discusses 3 perceptions: life cycle of product,
technology and market. The study seeks to upsurge the consistency of strategic decision-making in product
production and to compare the three life cycles. The principles are primarily grounded on the high tech
business norms. The Product Life Cycle shows the variations of items transactions over time, since the
outset of its conception to the most recent step of its ramp. In the meantime, Technology Life Cycle shows
the combined product creation initiatives over time that reflect the technical sophistication stage across a
range of periods. The Business Life Cycle then reflects the appearance and growth of different consumer
segments in the field of technology. Each cycle of technology life could evidently involve different cycles of
product life and each cycle of consumer life could comprise of diverse cycles of technology and commodity
life. Thus consumer life cycles provide a more holistic view and product life cycles with a particular product
center perspective are more informative. But the results of every life cycle definition are dissimilar, and
decision-making built on them will lead to better results.

Published

2020-05-30

Issue

Section

Articles