When I was 12 years old, I used to be confused about my cousin’s CD collection. Why have CDs when I could go on iTunes and listen to all my favorite songs? This is a perfect example of a product life cycle (PLC) in action. No one wants their product to become “obsolete” and reach the end of its product life cycle. That’s why it’s important to understand what stage your product is in so you can make better marketing and business decisions. Below, we’ll learn about the product life cycle inside and out. If you’re in a pinch, use […]

Everyone wants their business to grow. This seems pretty intuitive considering effective and successful growth means your business is experiencing boosts in revenue, brand awareness, brand loyalty, and more — and we know this to be true by looking at the most successful and well-known companies today (e.g. Apple, Amazon, etc.). The question is: What do these highly-successful companies do to ensure they put themselves in a position for strong and consistent growth? Of course, there are a number of answers to this question based on who you ask. However, the one we’re going to focus on in this blog […]

Your research and development team has been working on a new product for months and putting valuable resources into its design and manufacturing. They’ve carefully researched the market and the problem they intend to solve. They’ve brainstormed and planned out the best possible product, and then meticulously crafted it before testing its functionality to make sure that it does indeed do what it was meant to do. You are convinced that this is the best addition to the world since chocolate. With an amazing product ready to go to market, there’s only one question left in your mind. How are […]