Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Pr od u c t li f e c y cl e i s a c o n c ep t wh i c h i s t a u gh t i n all t h e sal e s a n d ma r ke t i n g
i n st i t u t i o n s. I t d e al s wi t h t h e li f e c y c l e o f a pr o d u c t a n d h o w i t gr o w s o v e r t i m e.
I t i s p o s si bl e t o m a n a ge o n e’s c a r e e r mu c h a s a ma n a g er wo ul d ma n a g e t h e li f e o f
h i s pr od u c t s. He n c e i t i s i mp e r a t i v e t h a t t h e p ri n c i ple s o f g o o d c a r e e r ma n a ge m e n t
a r e le ar n t e a rl y i n li f e, i n f a c t e v e n be f o r e a s t ud e n t e n t e r s t h e c a r e er o r j o b
m ar k e t .
P rod u ct li fe c y c le
In the diagram below, the X-axis refers to the time and the Y-axis to the sales of the product.
The sales history of the product in the diagram above follows a typical S-shaped curve. This curve is
divided into four stages known as introduction, growth, maturity and decline. Introduction is the
period of slow growth as the product is introduced into the market. At this stage, the profits are
almost nonexistent, sometimes even negative. Growth is a period of rapid market acceptance and
substantial profit improvement. Maturity is a period of a slowdown in sales growth because the
product has achieved acceptance by most of the potential buyers. Profits peak in this period and
start to decline because of increased marketing expenditure to sustain the product against
competition. Finally, decline is the period when sales continue a strong downward drift and profits
erode down to zero point. This typically happens when the product is replaced by a better one.
Although used in marketing, the same concept is applicable to our careers as well. Initially, when we
begin working we also start from a zero point in terms of salaries and designations. With time and
careful management of one’s career, one is promoted with additional responsibilities, designations
improve and the salary package also increases. The culmination point is retirement, which is
analogous to the decline stage in the product life cycle.
Broadly, most products follow the S-shaped curve although the S- shape could be an elongated or a
compressed one depending on the product.
Careers an d produ ct li fe cy cle
Let us take a look at two careers:
1. Finished College, Joined a company as a management trainee. Grew to area manager, retired as a
regional manager.
2. Finished college, joined a company as a management trainee, then got promoted to an executive,
did relevant training, grew into the area sales manager, joined another company as logistics manager,
did relevant training, retired as a general manager operations, became a consultant in logistics for a
computer concern.
What is the fundamental difference in the two careers? It is not just related to the caliber of the
individuals. In fact, both individuals started from similar positions.
In the first one the person let the career path be decided by the company, whereas in the second one
the person had his own career plan chalked out and fitted in companies and training accordingly to
help him in his career path.