The Product Life Cycle Part & The New Product Process

he Product Life Cycle Part  & The New Product Process

Assess the value of the product life cycle as a tool for product succession planning and related product management activities. Give your opinion on whether or not the Product Life Cycle can help health care managers in promoting portfolio planning, strategy formulation, and forecasting. Provide one (1) example to support your rationale.
Select two (2) stages of the Product Life Cycle. Describe the methods for strategically and tactically managing products during each of the selected stages. Relate the selected stages to two (2) real-life examples of strategic or tactical initiatives within a health care organization.
Create an argument in support of the assertion that the Product Life Cycle enhances marketing outcomes in the health care industry. Provide support for your argument.
Suggest at least two (2) examples that support the notion of the limiting life span of health care products as a necessity in the ongoing and systematic product succession planning effort.

Dear Class,

As we discuss PLC this week, let’s apply the four phases to prescription drugs. A good example is Claritin. We can see the introduction, growth, maturity, and decline when the medication became OTC. Think of an example to share with us.