Marketing Generics Application Note:
Product Life Cycle actions for a Product Marketing Manager Part 1
At the core of running a Product Marketing activity lies having a deep and natural understanding of the Product Life Cycle (the PLC). Just as a human being must know and acknowledge where he is on his own personal life cycle (so that you don’t pretend to be 18 when you are really 40, and so on!), so the actions for Product Marketing are different depending upon which stage of the PLC your product is. Thus, whilst not being the sole factor which affects product marketing, the PLC is nevertheless a key driver of all Product Marketing actions. Product Marketing Managers must therefore learn and master actions for each different stage of the PLC. We teach 6 separate stages of the PLC, and to ensure that Product Marketing Managers cover all actions, they should map the 5Ps of the Marketing Mix against each stage, to ensure that each element of the Marketing Mix – the principal tools that Product Marketing have at their disposal – are considered and actioned. This Application Note explains the detailed actions for each of the 5Ps for Stage 1 – Product Conception.
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Keywords: PLC, PLC Management, Product Life Cycle, Product concepting, conception, Market research, positioning strategy, final cost of the product. hot housing, Product Managers, Product Marketing, Pre-Product phase, Product Development