essay about product life cycle

Product Life Cycle

The stages that a product moves through the marketplace

What is the Product Life Cycle?

The Product Life Cycle (PLC) defines the stages that a product moves through in the marketplace as it enters, becomes established, and exits the marketplace. In other words, the product life cycle describes the stages that a product is likely to experience. It is a useful tool for managers to help them analyze and develop strategies for their products as they enter and exit each stage.

Stages in the Product Life Cycle

The four stages in the product life cycle are:

• Introduction

1. Introduction Stage

When a product first launches, sales will typically be low and grow slowly. In this stage, company profit is small (if any) as the product is new and untested. The introduction stage requires significant marketing efforts, as customers may be unwilling or unlikely to test the product. There are no benefits from economies of scale, as production capacity is not maximized.

The underlying goal in the introduction stage is to gain widespread product recognition and stimulate trials of the product by consumers. Marketing efforts should be focused on the customer base of innovators – those most likely to buy a new product. There are two price-setting strategies in the introduction stage:

• Price skimming : Charging an initially high price and gradually reducing (“skimming”) the price as the market grows.
• Price penetration : Establishing a low price to quickly enter the marketplace and capture market share, before increasing prices relative to market growth.

2. Growth Stage

If the product continues to thrive and meet market needs, the product will enter the growth stage. In the growth stage, sales revenue usually grows exponentially from the take-off point. Economies of scale are realized as sales revenues increase faster than costs and production reaches capacity.

Competition in the growth stage is often fierce, as competitors introduce similar products. In the growth stage, the market grows, competition intensifies, sales rise, and the number of customers increases. Price undercutting in the growth stage tends to be rare, as companies in this stage can increase their sales by attracting new customers to their product offerings.

3. Maturity Stage

Eventually, the market grows to capacity, and sales growth of the product declines. In this stage, price undercutting and increased promotional efforts are common as companies try to capture customers from competitors. Due to fierce competition, weaker competitors will eventually exit the marketplace – the shake-out. The strongest players in the market remain to saturate and dominate the stable market.

The biggest challenge in the maturity stage is trying to maintain profitability and prevent sales from declining. Retaining customer brand loyalty is key in the maturity stage. In addition, to re-innovate itself, companies typically employ strategies such as market development, product development, or marketing innovation to ensure that the product remains successful and stays in the maturity stage.

4. Decline Stage

In the decline stage, sales of the product start to fall and profitability decreases. This is primarily due to the market entry of other innovative or substitute products that satisfy customer needs better than the current product. There are several strategies that can be employed in the decline stage, for example:

• Reduce marketing efforts and attempt to maximize the life of the product for as long as possible (called milking or harvesting).
• Slowly reducing distribution channels and pulling the product from underperforming geographic areas. Such a strategy allows the company to pull the product out and attempt to introduce a replacement product.
• Selling the product to a niche operator or subcontractor. This allows the company to dispose of a low-profit product while retaining loyal customers.

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Product Life Cycle Explained: Stage and Examples

Ariel Courage is an experienced editor, researcher, and former fact-checker. She has performed editing and fact-checking work for several leading finance publications, including The Motley Fool and Passport to Wall Street.

What Is the Product Life Cycle?

The product life cycle is the length of time that a product is available to customers. It starts when a product (a good or a service) is introduced into the market and ends when it's removed from the shelves.

This concept is used by management and marketing professionals to make marketing and sales decisions, such as whether or not to increase advertising, reduce prices, expand to new markets, or redesign packaging. The process of strategizing ways to continuously support and maintain a product is called product life cycle management .

Key Takeaways

• A product life cycle is the length of time from when a product is introduced to the market until it's taken off shelves.
• There are four stages in a product's life cycle: introduction, growth, maturity, and decline.
• A company often incurs higher marketing costs when introducing a product to the market but experiences higher sales as product adoption grows.
• Sales stabilize and peak when the product's adoption matures, though competition and obsolescence may cause its decline.
• The concept of product life cycle helps inform marketing and sales decisions, from pricing and promotion to expansion or cost-cutting.

Investopedia / Xiaojie Liu

How the Product Life Cycle Works

A product begins with an idea. Within the confines of modern business, that idea isn't likely to go further until it undergoes research and development (R&D) . If the business finds that it is feasible and potentially profitable, the product will be produced, marketed, and rolled out.

The life cycle of a product is broken into four stages:

• Introduction

Some product life cycle models include product development as a stage, though at this point, the product has not yet been brought to customers.

Introduction Stage

The introduction phase is the first time customers are introduced to the new product. This stage generally requires that the business make a substantial investment in advertising. At this point, the marketing is focused on making consumers aware of the product and its benefits, especially if it is broadly unknown what the item will do.

During the introduction stage, there may be little or no competition for a product, as competitors may just be getting a first look at the new offering. Even if the business is offering a new product or service in response to another business's sales, the marketing will still be focused on introducing the new product rather than on differentiating it from competitors' products.

Companies often experience negative financial results at this stage. Sales tend to be lower, promotional pricing may be low to drive customer engagement, marketing spending is high, and the sales strategy is still being evaluated.

Growth Stage

If the product is successful, it then moves to the growth stage. This is characterized by:

• Growing demand
• Increase in production
• Expanded availability

The amount of time spent in the introduction phase before a company's product experiences strong growth will vary between industries and products.

During the growth phase, the product becomes more popular and recognizable. A company may still choose to invest heavily in advertising if the product faces heavy competition. However, marketing campaigns will likely be geared towards differentiating its product from others as opposed to introducing the goods to the market. A company may also refine its product by improving functionality based on customer feedback.

Financially, the growth period of the product life cycle results in increased sales and higher revenue. As peer businesses begin to offer rival products, competition increases, potentially forcing the company to decrease prices and experience lower margins.

Maturity Stage

The maturity stage of the product life cycle is the most profitable stage, the time when the costs of producing and marketing decline. With the market saturated with the product, competition is now higher than at other stages, and profit margins start to shrink. Some analysts refer to the maturity stage as when sales volume is "maxed out."

Depending on the good, a company may begin deciding how to innovate its product or introduce new ways to capture a larger market presence. This includes getting more feedback from customers and researching their demographics and their needs.

During the maturity stage, competition is at the highest level. Rival companies have had enough time to introduce competing and improved products, and competition for customers is usually highest. Sales levels stabilize, and a company strives to have its product exist in this maturity stage for as long as possible.

The stage of a product's life cycle impacts how it is marketed to consumers. A new product needs to be explained, while a mature product needs to be differentiated from its competitors.

Decline Stage

As the product takes on increased competition and other companies emulate its success, the product may lose market share . This is when the decline state begins.

Product sales begin to drop due to market saturation and alternative products. If customers have already decided whether they are loyal to the product or prefer those of competitors, the company may choose to not invest in additional marketing efforts. Should a product be entirely retired , the company will stop generating support for it and will entirely phase out marketing and production endeavors.

Alternatively, the company may decide to revamp the product or introduce a next-generation, completely overhauled model. If the upgrade is substantial enough, the company may choose to re-enter the product life cycle by introducing the new version to the market.

Microsoft's decision to sunset Windows 8.1 in January 2023 was an example of the decline stage. Consumers began receiving notifications the year before that Microsoft would no longer support the product and instead would focus resources on newer technologies.

Benefits and Drawbacks of Using the Product Life Cycle

Clarify portfolio of offerings

Better allocation of resources

Positive impact on economic growth

Promotes innovation

Not appropriate for every industry or product

Legal or trademark restrictions

Planned obsolescence

Product or resource waste

The product life cycle better allows marketers and business developers to better understand how each product or brand sits with a company's portfolio. This enables the company to internally shift resources to specific products based on those products' positioning within the product life cycle.

For example, a company may decide to reallocate marketing resources to products entering the introduction or growth stages. Alternatively, it may need to invest more cost of labor in engineers or customer service technicians as the product matures.

The product life cycle naturally tends to have a positive impact on economic growth, as it promotes innovation and discourages supporting outdated products. As products move through the life cycle stages, companies that track the product life cycle can be more aware of the need to make their products more effective, safer, efficient, faster, cheaper, or better suited to client needs.

Despite its utility for planning and analysis, the product life cycle doesn't apply to every industry and doesn't work consistently across all products. Consider popular beverage lines whose primary products have been in the maturity stage for decades, while spin-offs or variations of these drinks from the same company have failed.

The product life cycle also may be artificial in industries with legal or trademark restrictions. Consider the new patent term in the United States, which is 20 years from when the application for the patent was filed. A drug may be adversely impacted by competition when its patent ends regardless of which life cycle stage it is in.

Another unfortunate side effect of the product life cycle is prospective or planned obsolescence. When a product enters the maturity stage, a company may be tempted to begin planning its replacement. This may be the case even if the existing product still holds many benefits for customers and could continue to have a long shelf life. For producers who tend to introduce new products every few years, this can lead to product waste and inefficient use of product development resources.

Product Life Cycle vs. BCG Matrix

A similar analytical tool to help businesses determine the market positioning of a product is the Boston Consulting Group (BCG) Matrix . This four-square table defines products based on their market growth and market share:

• Stars : Products with high market growth and high market share
• Cash cows : Products with low market growth and high market share
• Question marks or problem children : Products with high market growth and low market share
• Dogs : Products with low market growth and low market share

Both systems analyze a product's market growth and saturation. However, the BCG Matrix does not traditionally communicate the direction in which a product will move. For example, a product that has entered the maturity stage of the product life cycle will likely experience decline next; the BCG Matrix does not communicate this product flow in its visual depiction.

There is no direct relationship between where a product sits in the BCG Matrix and where it is in the product life cycle.

Impact on Innovation

Companies that have a good handle on all four stages can increase profitability and maximize their returns . Those that aren't able to may experience an increase in their marketing and production costs, ultimately leading to the limited shelf life for their products.

In 1965, Theodore Levitt, a marketing professor, wrote in the Harvard Business Review that the innovator is the one with the most to lose because so many truly new products fail at the first phase of their life cycle—the introductory stage. The failure comes only after the investment of substantial money and time into research, development, and production. This fact prevents many companies from trying many new ideas. Instead, he said, they wait for someone else to succeed and then clone the success.

Stages Within an Industry

In an established industry, products will exist at all stages of the life cycle, influenced by other products that have recently become available. For example, in television program distribution, OLED TVs are in the mature phase, programming-on-demand is in the growth stage, DVDs are in decline, and the videocassette is extinct.

Prolonging the Mature Stage

Many of the most successful products on earth are suspended in the mature stage for as long as possible, undergoing minor updates and redesigns to keep them differentiated. Examples include:

• Apple computers and iPhones
• Ford trucks
• Starbucks' coffee

All of these products undergo minor changes accompanied by major marketing efforts, which are designed to keep them feeling unique and special in the eyes of consumers.

Examples of the Product Life Cycle

Many brands that were American icons have gone through the entirety of the product life cycle, reaching their decline for a variety of different reasons. In some cases, better management of product life cycles might have prolonged their availability. In others, the company faced steep competition or the product didn't resonate with customers.

Oldsmobile began producing cars in 1897. After merging with General Motors in 1908, the company used the first V-8 engine in 1916. By 1935, the one millionth Oldsmobile had been built. In 1984, Oldsmobile sales peaked, selling more cars in that year than any other year. By 2000, General Motors announced it would phase out the automobile and, on April 29th, 2004, the last Oldsmobile was built.

Woolworth Co.

In 1905, Frank Winfield Woolworth incorporated F.W. Woolworth Co., a general merchandise retail store. By 1929, Woolworth had about 2,250 outlet stores across the United States and Britain, Decades later, due to increased competition from other discount retailors, Woolworth closed the last of its variety stores in the United States in 1997 to increasingly focus on sporting goods.

On April 23, 1985, Coca-Cola announced a new formula for its popular beverage, referred to as "new Coke." Coca-Cola's market-share lead had been decreasing over the past 15 years, and the company decided to launch a new recipe in hopes of reinvigorating product interest. After its launch, Coca-Cola's phone line began receiving 1,500 calls per day, many of which were to complain about the change. Protest groups recruited 100,000 individuals to support their cause of bringing "old" Coke back.

A stunning 79 days after its launch, "new Coke's" full product life cycle was complete. Though the product didn't experience much growth or maturity, its introduction to the market was met with heavy protest. Less than three months after it announced its new recipe, Coca-Cola announced it would revert its product back to the original recipe.

What Are the Stages of the Product Life Cycle?

The product life cycle is defined as four distinct stages: product introduction, growth, maturity, and decline. The amount of time spent in each stage will vary from product to product, and different companies have different strategic approaches to transitioning from one phase to the next.

What Are Product Life Cycle Strategies?

Depending on the stage a product is in, a company may adopt different strategies along the product life cycle. For example, a company is more likely to incur heavy marketing and R&D costs in the introduction stage. As the product becomes more mature, companies may then turn to improving product quality, entering new segments, or increasing distribution channels. Companies also strategically approach divesting from product lines including the sale of divisions or discontinuation of goods.

What Is Product Life Cycle Management?

Product life cycle management is the act of overseeing a product's performance over the course of its life. Throughout the different stages of product life cycle, a company enacts strategies and changes based on how the market is receiving a good.

Why Is Product Life Cycle Important?

Product life cycle is important because it informs management of how its product is performing and what strategic approaches it may take. By being informed of which stage its product(s) are in, a company can change how it spends resources, which products to push, how to allocate staff time, and what innovations they want to research next.

Which Factors Impact a Product's Life Cycle?

Many factors can affect how a product performs and where it lies within the product life cycle. In general, the product life cycle is heavily impacted by market adoption, ease of competitive entry, rate of industry innovation, and changes to consumer preferences. If it is easier for competitors to enter markets, consumers can change their minds frequently about the goods they consume, or the market may quickly become saturated. Then, products are more likely to have shorter lives throughout a product life cycle.

Broadly speaking, almost every product sold undergoes the product life cycle. This cycle of market introduction, growth, maturity, and decline may vary from product to product, as well as from industry to industry.

This cycle can help a company make decisions about resource allocation, track the outlook of products, and strategically plan for bringing new products to market.

Microsoft. " Windows 8 and Windows 8.1 End of Support and Office ."

Food and Drug Administration. " Frequently Asked Questions on Patents and Exclusivity ."

Harvard Business Review. " Exploit the Product Life Cycle ."

Oldsmobile Club of America. " History of Oldsmobile ."

Britannica. " Woolworth Co. "

The Coca-Cola Company. " The Story of One of the Most Memorable Marketing Blunders Ever ."

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11.8 The Product Life Cycle

• What are the stages of the product life cycle?

Product managers create marketing mixes for their products as they move through the life cycle. The product life cycle is a pattern of sales and profits over time for a product (Ivory dishwashing liquid) or a product category (liquid detergents). As the product moves through the stages of the life cycle, the firm must keep revising the marketing mix to stay competitive and meet the needs of target customers.

Stages of the Life Cycle

As illustrated in Exhibit 11.7 , the product life cycle consists of the following stages:

Introduction: When a product enters the life cycle, it faces many obstacles. Although competition may be light, the introductory stage usually features frequent product modifications, limited distribution, and heavy promotion. The failure rate is high. Production and marketing costs are also high, and sales volume is low. Hence, profits are usually small or negative.

Growth: If a product survives the introductory stage, it advances to the growth stage of the life cycle. In this stage, sales grow at an increasing rate, profits are healthy, and many competitors enter the market. Large companies may start to acquire small pioneering firms that have reached this stage. Emphasis switches from primary demand promotion to aggressive brand advertising and communicating the differences between brands. For example, the goal changes from convincing people to buy flat-screen TVs to convincing them to buy Sony versus Panasonic or Sharp .

Distribution becomes a major key to success during the growth stage, as well as in later stages. Manufacturers scramble to acquire dealers and distributors and to build long-term relationships. Without adequate distribution, it is impossible to establish a strong market position.

Toward the end of the growth phase, prices normally begin falling, and profits peak. Price reductions result from increased competition and from cost reductions from producing larger quantities of items (economies of scale). Also, most firms have recovered their development costs by now, and their priority is in increasing or retaining market share and enhancing profits.

Maturity: After the growth stage, sales continue to mount—but at a decreasing rate. This is the maturity stage . Most products that have been on the market for a long time are in this stage. Thus, most marketing strategies are designed for mature products. One such strategy is to bring out several variations of a basic product (line extension). Kool-Aid, for instance, was originally offered in six flavors. Today there are more than 50, as well as sweetened and unsweetened varieties.

Decline (and death): When sales and profits fall, the product has reached the decline stage . The rate of decline is governed by two factors: the rate of change in consumer tastes and the rate at which new products enter the market. Sony VCRs are an example of a product in the decline stage. The demand for VCRs has now been surpassed by the demand for DVDs and online streaming of content. Sometimes companies can improve a product by implementing changes to the product, such as new ingredients or new services. If the changes are accepted by customers, it can lead to a product moving out of the decline stage and back into the introduction stage.

The Product Life Cycle as a Management Tool

The product life cycle may be used in planning. Marketers who understand the cycle concept are better able to forecast future sales and plan new marketing strategies. Table 11.5 is a brief summary of strategic needs at various stages of the product life cycle. Marketers must be sure that a product has moved from one stage to the next before changing its marketing strategy. A temporary sales decline should not be interpreted as a sign that the product is dying. Pulling back marketing support can become a self-fulfilling prophecy that brings about the early death of a healthy product.

Concept Check

• What is the product life cycle?
• Describe each stage of the product life cycle.
• What are the marketing strategies for each stage of the product life cycle?

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European Journal of Marketing

ISSN : 0309-0566

Article publication date: 7 January 2022

Issue publication date: 2 February 2022

This paper aims to respond to calls in academia for an update of the product lifecycle (PLC). Through a systematic literature review, the authors provide an updated agenda, which aims to advance the PLC concept in research, teaching and practice.

Design/methodology/approach

The authors started by surveying 101 marketing academics globally to ascertain whether a PLC update was viewed necessary and beneficial in the marketing community and thereafter conducted citation analysis of marketing research papers and textbooks to ascertain PLC usage. The subsequent literature review methodology was split into two sections. First, 97 empirical articles were reviewed based on an evaluative framework. Second, research pertaining to the PLC determinants were assessed and discussed.

From the results of this review and primary data from marketing academics, the authors find that the method of predicting the PLC based on past sales has been largely unsuccessful and perceived as somewhat outdated. However, a new stream of PLC literature is emerging, which takes a consumer-centric perspective to the PLC and has seen more success at modeling lifecycles in various industries.

Research limitations/implications

First, the study outlines the most contemporary and successful methodological approaches to modeling the PLC. Namely, the use of artificial intelligence, big data, demand modeling and consumer psychological mechanisms. Second, it provides several future research avenues using modern market trends such as sustainability, globalization, digitization and Covid-19 to push the PLC into the 21st century.

Originality/value

The PLC has shown to be resolutely popular in management application and education. However, without a continued effort in academic PLC research to update the knowledge around the concept, its use as a productive management tool will likely become outdated. This study provides a necessary and comprehensive literature update resulting in actionable future research and teaching agendas intended to advance the PLC concept into the modern market context.

• Product lifecycle
• Research agenda

Iveson, A. , Hultman, M. and Davvetas, V. (2022), "The product life cycle revisited: an integrative review and research agenda", European Journal of Marketing , Vol. 56 No. 2, pp. 467-499. https://doi.org/10.1108/EJM-08-2020-0594

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Product Life Cycle: Phases and Elements Essay

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The concept of the product life cycle (PLC) is valuable for many reasons. Chiefly, it provides the marketing personnel with an understanding of the dynamics of the market and the ability to timely assess the change in customer demand and react to it (Bamford & Forrester 2010).

The first stage of PLC, introduction, provides strategic opportunities for a proper evaluation of the customer base needs and development of an appropriate set of marketing interventions. The growth phase is most valuable for the maximization of profit through logistical and operational management. The maturity stage provides the possibilities for interventions aimed at rejuvenating sales. Finally, the decline, which is usually deemed a phase with the fewest strategic capabilities, can still provide the means for additional revenue.

The first phase, introduction, consists of several elements, with the three most commonly recognized being the design and the provision of the new products. The former often emphasizes innovation, a critical component that presumably guarantees the product’s success among customers. While the role of innovation cannot be underestimated, it should not be mistaken for the element solely responsible for the successful product/service introduction.

A good example is Apple, the company famous for regularly launching the products which have little to no innovative features and often lose to the respective ones of their competitors but enjoy tremendous success on the regular basis (Auron 2016). While this is a rare example and does not prove the irrelevance of the innovation, it still means that a comprehensive and focused design-manufacturing interface coupled with clever marketing strategies can successfully substitute the need for innovation at least on some occasions. Thus, the interface is the most critical element of organizations strategically.

A crucial element interconnected with the design and manufacturing interface and contributing to other areas of the introduction phase is the quality function deployment (QFD). It is a complex and concise tool for processing the data on customers’ needs and satisfaction into a meaningful and approachable quantifiable form. In other words, QFD can translate intangible marketing requirements into measurable technical attributes, which then can be utilized to produce a module mix important for the design and operations interface (Wang & Chen 2012).

Since its introduction in the late 1960s, it continues being used today for the assessment of the various stages of the PLC, most notably the new product planning (NPP) (Ko & Chen 2014). Despite its concise nature allowing for a broad enclosure of the factors contributing to the evaluation process, some amendments have been proposed to enhance the process. For instance, Huertas-Garcia and Consolación-Segura (2009) have introduced a methodology which expanded the understanding of the consumer feedback and added value to the services by coupling QFD with statistical design of experiments.

Naturally, the use of QFD is not restricted to the initial phase. For instance, Apple utilizes customer satisfaction data throughout the process, even on the final stage of the PLC. The curve of the life cycle is notably different for most of Apple’s products, presenting an immediate spike during growth and similarly sharp decline, with the almost non-existent maturity phase (Downes & Nunes 2014). However, on the decline phase the revised version of the product is often being introduced, resulting in the next wave of popularity. Thus, instead of emphasizing the sustained growth and prolonged stability phases, Apple merges the decline phase with the introduction of the partially new product, providing a strategy that maintains the relatively predictable, and thus stable, revenue rates.

Reference List

Auron, J M 2016, The Decline of Apple: Marketing “Innovation” is not Innovation .

Bamford, D R & Forrester, P L 2010, Essential Guide to Operations Management , John Wiley & Sons, West Sussex.

Downes, L & Nunes, P 2014, The Faster a New Technology Takes Off, the Harder It Falls .

Huertas-Garcia, R & Consolación-Segura, C M 2009, ‘A framework for designing new products and services’, International Journal of Market Research , vol. 51, no. 6, pp. 819-840.

Ko, W C & Chen, L H 2014, ‘An approach of new product planning using quality function deployment and fuzzy linear programming model’, International Journal of Production Research , vol. 52, no. 6, pp. 1728-1743.

Wang, C H & Chen, J N 2012, ‘Using quality function deployment for collaborative product design and optimal selection of module mix’, Computers & Industrial Engineering , vol. 63, no. 4, pp.1030-1037.

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IvyPanda. (2020, August 7). Product Life Cycle: Phases and Elements. https://ivypanda.com/essays/product-life-cycle-phases-and-elements/

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Products and go through different stages, and these stages (their order and length) have an impact on strategic alternative selection. The product life cycle can be analyzed based on the market conditions (sales and profits), throughout the time when the product or service is available for customers. The benefit of using product life cycle assessment is improving the organization’s knowledge about the market conditions. However, the disadvantage is that the assessment is based on individual judgements and predictions of the future. There are many unexpected market trends that can affect the life cycle of the service.   The four stages of product life cycle are: introductory, growth, maturity, and decline. Profitability, external conditions, and demand are different during each stage of the life cycle. In the introduction stage, sales are low, and profits are negative. There are only a few competitors, and the cost to customers is high. In the growth stage, revenue grow rapidly, profits peak, and the number of competitors grows, which makes the organization reduce its prices. In the maturity stage, growth of revenues is low, cost to customers is reduced, and competition is increased, while profits remain high. In the decline stage of the product life cycle, sales start to decline, profits are low, and prices are low. The number of competitors is declining.

It is important for a health care organization to complete a product life cycle analysis in order to select the right market entry strategy. No matter which market entry strategy the organization chooses, it needs to know the product life cycle associated with the strategy.  A product life cycle analysis answers the questions managers might have related to the market entry strategy, such as:

• Which stage of the cycle the organization’s products or services are
• How long is the current stage (and the entire cycle) likely to last

The results of the external analysis and environmental analysis can help judge the likely scenario related to the life cycle of the product or service. As an example, if the product or service is in the maturity stage, some of the strategy choices most suitable are market development or product development, while related diversification is not recommended.

Works Cited

Swayne, Linda E., W. Jack Duncan, and Peter M. Ginter.  Strategic management of health care organizations . John Wiley & Sons, 2012.

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Short Essay on Product Life-Cycle Model (326 Words)

Short Essay on Product Life-Cycle Model (326 Words)!

The product life-cycle itself is not really a strategy but it provides a frame work for managers to formulate strategy over time of the product-life. The product life cycle is shown as below:

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A product goes through four typical stages, which are: introduction, growth, maturity and decline. When a new product is introduced, it takes some time before it gets accepted. Once it is accepted, it may go through a period of rapid growth.

Eventually, the rate of growth for the product slows down and the market for the product matures. Finally, the product may enter into a decline stage. In terms of strategic planning the product life cycle approach suggests that different business strategies should be used to support products in different stages of their life cycles.

The duration of the product life cycle varies dramatically for different kinds of products. Fashion items usually have a short life cycle. Products like automobiles have been around for decades and are still in the maturity stage.

Understanding product life cycles and adjusting strategies accordingly is an important managerial skill. The managers must recognize the time frame for each stage of the product life cycle.

During the introduction stage, a product might be viewed as a “question mark” in the BCG matrix. In time of growth, it serves as a “cash cow” and it becomes a “dog” when its market share declines.

Products in the introduction and growth stages require investments in promoting the product in order to build a customer base in the market.

In the maturity stage, the focus shifts to cost effectiveness and production efficiency. The strategy would focus on prolonging the maturity stage of the product and delay the onset of decline stage. At the decline stage, there should he contingency plans either to reverse the decline or to develop alternative products with growth potential.

Many international organizations are taking advantage of the different product life cycles in different countries. A product in the decline stage in one country can be sold in another country market where it may be in the introduction or the growth stage. For example, Boeing company sells many of its older-model planes in developing countries.

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A Review of Artificial Intelligence and Machine Learning in Product Life Cycle Management

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The pursuit of harnessing data for knowledge creation has been an enduring quest, with the advent of machine learning and artificial intelligence (AI) marking significant milestones in this journey. Machine Learning (ML), a subset of AI, emerged as the practice of employing mathematical models to enable computers to learn and improve autonomously based on their experiences. In the pharmaceutical and biopharmaceutical sectors, a significant portion of manufacturing data remains untapped or insufficient for practical use. Recognizing the potential advantages of leveraging available data for process design and optimization, manufacturers face the daunting challenge of data utilization. Diverse proprietary data formats and parallel data generation systems compound the complexity. The transition to Pharma 4.0 necessitates a paradigm shift in data capture for manufacturing and process operations. This paper highlights the pivotal role of artificial intelligence in converting process data into actionable knowledge to support critical functions throughout the whole process life cycle. Furthermore, it underscores the importance of maintaining compliance with data integrity guidelines, as mandated by regulatory bodies globally. Embracing AI-driven transformations is a crucial step toward shaping the future of the pharmaceutical industry, ensuring its competitiveness and resilience in an evolving landscape.

• Artificial Intelligence
• Digitalization
• Industry 4.0
• Life Cycle Management
• Machine Learning
• Pharma and Biopharma
• Received November 16, 2023.
• Accepted July 25, 2024.
• Copyright © 2024, Parenteral Drug Association

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Life cycle analysis and environmental cost-benefit assessment of utilizing hospital medical waste into heavy metal safe paving blocks

• Siti Rachmawati 1,2 ,  ,  , 
• Syafrudin 1,3 , 
• Budiyono 1,4 , 
• Ellyna Chairani 5 , 
• Iwan Suryadi 6
• 1. Department of Doctoral Environmental Science, Faculty of Postgraduate, Universitas Diponegoro, Semarang 50275, Indonesia
• 2. Department of Environmental Science, Faculty of Mathematics and Natural Science, Universitas Sebelas Maret, Surakarta 57126, Indonesia
• 3. Department of Environmental Engineering, Faculty of Engineering, Universitas Diponegoro, Semarang 50275, Indonesia
• 4. Department of Chemical Engineering, Faculty of Engineering, Universitas Diponegoro, Semarang 50275, Indonesia
• 5. Department of Environmental Science, Environmental Science School, Universitas Indonesia, Jakarta, Indonesia
• 6. Department of Environmental Health, Poltekkes Kemenkes Makassar, Makassar, 90222, Indonesia
• Received: 17 March 2024 Revised: 27 July 2024 Accepted: 13 August 2024 Published: 22 August 2024
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This research explored the life cycle analysis and environmental cost-benefit assessment of converting ash waste from hospital medical waste incineration into environmentally safe paving block raw materials. The growing concerns about medical waste disposal and its environmental impact necessitate innovative solutions for sustainable waste management. This research aimed to evaluate the feasibility and environmental implications of reusing hospital waste into raw materials for paving block mixtures. This research, a comprehensive life cycle analysis, examined the environmental impacts of medical waste collection for the production and use of paving blocks. Additionally, we conducted an environmental cost-benefit assessment to ascertain the economic feasibility and potential environmental impact forecasts of this recycling approach. The research results show that converting hospital medical waste ash into mixed raw materials for paving blocks not only immobilizes heavy metals but also provides a sustainable alternative for non-building materials. These findings highlight the potential for significant environmental and economic benefits, making this approach a promising strategy for waste management and sustainable construction practices. The cost of preventing environmental damage (eco-cost) in the process of converting ash from the incineration of medical waste into a mixture of raw materials for paving blocks is IDR 600,180.9 per cycle.

• ash medical waste ,
• life cycle assessment ,
• paving blocks

Citation: Siti Rachmawati, Syafrudin, Budiyono, Ellyna Chairani, Iwan Suryadi. Life cycle analysis and environmental cost-benefit assessment of utilizing hospital medical waste into heavy metal safe paving blocks[J]. AIMS Environmental Science, 2024, 11(5): 665-681. doi: 10.3934/environsci.2024033

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• This work is licensed under a Creative Commons Attribution-NonCommercial-Share Alike 4.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-nc-sa/4.0/ -->

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• © 2024 the Author(s), licensee AIMS Press. This is an open access article distributed under the terms of the Creative Commons Attribution License ( http://creativecommons.org/licenses/by/4.0 )

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• Figure 1. Research flow diagram
• Figure 2. Flowchart on the use of medical waste for paving blocks
• Figure 3. The system boundaries
• Figure 4. Medical waste incineration ash
• Figure 5. Medical waste incineration ash after screening
• Figure 6. Paving blocks from incinerator medical waste
• Figure 7. Reduction of heavy metal compounds in paving blocks