The customer lifecycle involves stages that define the relationship between a customer and supplier, starting with attracting potential customers and ending with securing their loyalty. Each stage can deepen or deteriorate the relationship. The attract, acquisition, and conversion stages are important for building trust and loyalty, but the relationship can end if the supplier fails […]
Life cycle cost (LCC) accounting tracks all costs associated with a product or service from creation to disposal. It requires customized ledger accounts and can be combined with standard cost accounting. Reports cover several years and can be customized to meet specific needs. Life cycle cost (LCC) is also known as cradle to grave cost. […]
A life cycle inventory is a phase of a life cycle assessment that evaluates the environmental effects of a product or service. It involves collecting data on every stage of the manufacturing process, including packaging and transportation. Internationally agreed standards ensure consistency and credibility. Software, such as GaBi, is often used to collect and compare […]
Application lifecycle management (ALM) is a practice that manages every aspect of software development from conception to retirement. ALM improves production, collaboration, and quality, and is broken down into governance, development, and day-to-day operations. Governance manages every component of the lifecycle, development deals with requirements, design, coding, and testing, and operations prepares the software for […]
Information lifecycle management is a company’s strategy for organizing and maintaining digital information, from creation to disposal. It involves five stages: creation, distribution, maintenance, use, and disposal. The process is dictated by the company’s goals and related to its overall IT policies. Data is maintained and organized for use in business decisions, and disposal policies […]
The international product life cycle model tracks an industry’s evolution across borders and a firm’s marketing program. It combines economic principles with product lifecycle marketing and business models. The four elements are demand structure, production, international competition and marketing strategy, and the marketing strategy of the innovating company. The stages are introduction, growth, maturity, and […]
Record lifecycle management outlines the stages of a document from creation to destruction, including planning, collection, organization, maintenance, and disposal. Official records include financial and legal information, while anything useful for future reference is retained and stored electronically. Maintenance and protection plans are necessary, and destruction is permitted when data reaches its end of life. […]
Product lifecycle management involves four stages: conceive, design, build, and service. The process can be managed by one person or different departments. The first stage involves creating a product idea, followed by designing the physical product. The next stage involves creating the product, and the final stage is support. Product lifecycle management involves the process […]
Product life cycle stages are important for a company’s marketing plan. Product lifecycle strategies can manipulate the stages to extend a product’s life, such as making minor changes or offering promotions to revive interest. The life cycle of a product is something that is usually at the forefront of a company’s marketing plan as it […]
The product lifecycle approach helps companies make decisions based on industry knowledge and strategies, with products viewed through four stages. Benefits include better decision-making, planning for the future, and the ability to control a product’s trajectory. Analyzing competitors’ decisions can lead to implementing strategies to extend a product’s profitability, and the approach can also aid […]
