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- What is the product life cycle in the context of software products, and how does it differ from traditional product life cycles?List and describe the four stages of the product life cycle. Name a strategy for one of them, and name a product example for each stage.Each product will have a life cycle, although its exact shape and length is not known in advance. Define the product life cycle and explain each step in the product life cycle. Describe the suitable strategies for each step in the product life cycle.
- Discuss why product extension and refinement are important?In the context of new product development, from idea to manufacture, what are the key stages in a structured product introduction management and what are the critical decisions that need to be considered?Prepare a summary of variants of generic product development process for smart pen.
- How does the product life cycle influence the timing and nature of product changes?Analyze the importance of involving customers and suppliers in the new product development process. Explain your answerDescribe the generic product development process. How does the process change for technology-push products?
