Title: Taking product to market: a selection framework based on life cycle theories

Authors: Hui-Hong JK Li, Kim Hua Tan

Addresses: Centre for International Manufacturing (CIM), Department of Engineering, University of Cambridge, Mill Lane, Cambridge CB2 1RX, UK. ' Centre for Strategy and Performance (CSP), Department of Engineering, University of Cambridge, Mill Lane, Cambridge CB2 1RX, UK

Abstract: Life cycle theories can help companies decide when, how, and whether to invest in a product or service. All businesses, technologies, and products have similar life cycles, thus, knowing in which phase of the life cycle a business or product resides can help managers plot a winning strategy. This paper looks at how firms could enhance their performance by exploiting life cycle theories. It also focuses on the relationships among product life cycles, technology life cycles, business life cycles, and firms| strategic choices – relationships that are central to the field of strategy. The challenge that firms would face and the key drivers of competitive advantage along each stage of the life cycle are explained in detail. A framework replete with examples to assist managers in approaching right strategies at different business/technology/product life cycle stages is provided. The application of the framework in a company is described, and the implications of this research to academics and practitioners are explained.

Keywords: life cycle theory; service standards management; market niches; business strategy.

DOI: 10.1504/IJSS.2004.005685

International Journal of Services and Standards, 2004 Vol.1 No.1, pp.4 - 17

Published online: 18 Nov 2004 *

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