Product Life Cycle

  • Thread starter _Mayday_
  • Start date
  • #1
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Hey all,

I am in the process of starting up a herb business. It is very small and I will only be selling to one or two local restaurants. Funnily enough I phoned them up and they gave me the all clear. My question is, even though it is not a factor in this case, why would a products life cycle become shorter? This may not apply to this little business I have going but at the moment I am really just trying to get a taste of what any form of business is like. I cannot think why a products life cycle would shorten?

_Mayday_
 

Answers and Replies

  • #2
wolram
Gold Member
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Bugs, germs, bacteria and decay, if you can make a go of this fair play, but it would seem to be an incredible achievement if you do.
 
  • #3
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^ Pardon? The business itself is quite straigh forward, as I am interested in starting a herb garden anyway and as two restaurants have accepted my offer I think I should give it a go. My parents know both the owners which might give me a bit of room for error int he beginning but for me I think it will be good experience.
 
  • #4
Astronuc
Staff Emeritus
Science Advisor
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Hey all,

I am in the process of starting up a herb business. It is very small and I will only be selling to one or two local restaurants. Funnily enough I phoned them up and they gave me the all clear. My question is, even though it is not a factor in this case, why would a products life cycle become shorter? This may not apply to this little business I have going but at the moment I am really just trying to get a taste of what any form of business is like. I cannot think why a products life cycle would shorten?

_Mayday_
What kind of product, and when one mentions 'life-cycle', does one mean the demand for the product, or the life-time of the product. Products like food and fuel are consumables, as opposed to durable goods.

Some products become obselete as better technology is introduced into the market, e.g. calculators/computers/TV's/digital cameras/microprocessors/software.
 
  • #5
798
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What kind of product, and when one mentions 'life-cycle', does one mean the demand for the product, or the life-time of the product. Products like food and fuel are consumables, as opposed to durable goods.

Some products become obselete as better technology is introduced into the market, e.g. calculators/computers/TV's/digital cameras/microprocessors/software.
Let us take the example of a bicycle. My life-cycle, I mean the products life time, I guess another example would be an iPod where there is a definate time period in which a given model lasts in the market.
 
  • #6
Evo
Mentor
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Are you asking how long the herbs will remain fresh once picked? Can you be a bit more specific?
 
  • #7
Astronuc
Staff Emeritus
Science Advisor
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Let us take the example of a bicycle. My life-cycle, I mean the products life time, I guess another example would be an iPod where there is a definite time period in which a given model lasts in the market.
Mayday, like Evo indicated, we're wondering about the product to which one is referring. One started the discussion with an herb business, and Wolfram indicated that spoilage from bacteria (or molds/fungi) would be limiting.

On the production side - Freshness of herbs (in salads) means just-in-time picking and delivering. Otherwise, herbs can be dried and used as seasoning. Produce has a limited shelf-life if the intent is use as is. It can be quick-frozen, but that requires an extra step (not to mention energy requirements and cold storage).

On the consumer side - tastes may change with time, season, or weather as well as with economic conditions. Herbs are complimentary as well as being seasonal.

As for other products, it depends on the market.

Here is a reasonable good summary.
http://www.quickmba.com/marketing/product/lifecycle/
http://www.netmba.com/marketing/product/lifecycle/

Perhaps one can find a suitable business or management textbook at a local library.
 
  • #8
798
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Thank you all for your time, I will have a look for one Astro.
 

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