Product Life cycle and Product Evolution

Introduction
Each and every product goes through specific stages during its lifespan. These common stages are collectively known as product life cycle. These stages are: 1. 2. 3. 4. Introduction Growth Maturity Decline

With increasing competition and available technology, product life cycle span is decreasing, to cope up with this decreasing lifespan; a product should be continuously evolving. This process is explained as product evolution. We have done some primary research on product life cycle and product evolution and have come up with the following articles, which will form basis of our literature review to help us in better understanding of the two concepts and how are they related. List of articles from different marketing journals: Stage of the Product Life Cycle, Business Strategy, and Business Performance, Carl R. Anderson & Carl P. Zeithaml, Academy of Management Journal The product lifecycle: analysis and application issues, George S Day, Journal of Marketing The product lifecycle and time varying advertisement elasticity, Leonard J Parsons, Journal of Marketing Research Competing in Product and Service: A Product Life-Cycle Model, Morris A Cohen and Seungjin Whang, Management Science The Product Life Cycle: Its role in marketing strategy, David M Gardner Innovation Diffusion and New Product Growth Models in Marketing, Vijay Mahajan and Eitan Muller, Journal of Marketing Modeling the Product Life Cycle for Consumer Durables, Stephen G. Harrell and Elmer D. Taylor, Journal of Marketing Advertising and the Diffusion of New Products, Dan Horsky and Leonard S. Simon, Marketing Science An Evolutionary Approach to Product Growth Theory, Gerard J. Tellis and C. Merle Crawford, Journal of Marketing The Nature of Product Life Cycles for Industrial Goods Businesses, Hans B. Thorelli and Stephen C. Burnett, Journal of Marketing The Bass New Product Growth Model: A Sensitivity Analysis for a High Technology Product, Douglas Tigert and Behrooz Farivar, Journal of Marketing Product life cycle: the evolution of a paradigm and literature review from 1950 2009, Hui Cao and Paul Folan, Production Planning & Control: The Management of Operations Exploit the Product Life Cycle, Theodore Levitt, Harvard Business Review Break free from Product Life Cycle, Youngme Moon, Harvard Business Review

The dynamics of Process-Product Life Cycle, Robert H Hayes and Steven G Wheelwright, Harvard Business Review Developing new products and services: The marketers role, Harvard Business Review Productlifecyclestages.com Managing product life-cycle in the auto industry: evaluating carmakers effectiveness, Giuseppe Volpato and Andrea Stocchetti, Munich Personal RePEc Archive Market Share Strategy and the Product Life Cycle, Bernard Catry and Michel Chevalier, Journal of Marketing Validity of the Product Life Cycle, Rolando Polli and Victor Cook, The Journal of Business Entry, exit, growth and innovation over the product life cycle, Steven Klepper, The American Economic Review

This is not the final list. It will be modified as per the study progresses. On the basis of the literature review through these sources and real life case studies from various business journals, we will form a basic understanding of two main concepts. After literature review is done, different stages of product life cycle will be explained by taking the case of products existing in a specific stage and this case study will be related to finding of literature review. Examples of product evolution from different industries will make the concept clearer. On the basis of whole study based on real life cases, final conclusion of our study will be derived and if needed recommendations will be provided. Group name: Underdogs Faraz Mohammed Khan, B13084 Harshan Agrawal, B13088 Subhro Mukherjee, B13118