Product Life Cycle Education and Training
Meet your company's performance goals with product life cycle education and trainingIf your profits are starting to decline, maybe you should re-think your company's product life cycle model. From product design to product launch, there may be real opportunities to enhance your strategies and increase your market share. Perhaps you need more feedback from your manufacturing facility or it could be that the product, as originally designed, no longer meets the customers' needs.
Formal training on the product life cycle teaches your employees to identify the initial problem stage, when costs are high and demand is low. Training then advances to the next stage, when the product is introduced to the market and gains initial acceptance, thus driving down costs and increasing revenue. This is followed by the growth stage, when your company has managed the product manufacturing and marketing so that performance goals are met and revenues are high. Your employees will benefit from product cycle management training that will help them identify the reason for declining sales. Consider the sources below as you contemplate additional product life cycle education and training your employees should pursue.
1. Learn the fundamentals of brand life cycle with introductory classes.
2. Reach out for business consultants who offer specialized training on the product life cycle model.
3. Take seminars and workshops on product life cycle management.
Start by learning the essential product growth principles
Stanford University both explain the economics class at Stanford University that can help you learn product life cycle principles in general. Take the online program at Quick MBA to learn how to plot product revenue and growth.
Take classes on the product life cycle growth given by business consultantsAdvance your training by completing classes that focus on managing the product life cycle, such as how to establish and adjust original product growth estimates.
Register for workshops focusing on the product life cycle modelIf you're not inclined to take university classes, you can attend seminars and workshops that take you through the product life cycle process, from the time a product is conceived until it is withdrawn from the market.
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