Product Lifecycle Management Tool with ROI
Rockstar
Lauren Sytsma
Rockstar
- Oct 21, 2013 9:08 AM
- Completed
We had a recent request for a Product Lifecycle Management Tool that focuses mainly on ROI and product management.
A quick definition of PLM (product lifecycle management):
"In industry, product lifecycle management is the process of managing the entire lifecycle of a product from its conception, through design and manufacture, to service and disposal." Wikipedia
We have a Customer Lifetime Value Calculator that fits with the format of this request (see resource reference below). Great idea to create something similar, but with a focus on PLM/ROI/Product Management. Our content development team will keep this in mind for future tools!
Resource Reference
Use this to determine which stage of the product lifecycle each of your products fall under.
2 Responses
We could add the point where we can upgrade the customer with our new product. I mean retaining a customer by offering him exchange bonus and loyalty offer for a new product. Possibilty of a customer buying a same brand depends upon the consumer experience. So, we can also add third party ratings for our brand.
We have Product Lifecycle Tool (Boston Matrix) that is helpful for understanding each of the stages of a product's lifecycle. This includes concepts like "Cash Cow" when a product is particularly profitable. We also have a Product Profitability Analysis tool and Break Even Calculator to check on profitability and ROI.