Wk4a Life Cycles
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Life Cycles of Products and Services
Learning Objectives Identify the four stages of a life cycle. Explain the significance of overlapping life cycles. Explain the New Product Development Process.
Top Ten Products of All Time What
are they?
Write
down what
you believe they are….
1 2 3 4 5 6 7 8 9 10
Life Cycles
Life Cycles exist for:
Usually dictated by:
Products
Time
Services
Processes/Procedures
Problems
Priority Aging Escalation Target Resolution Times
lines
Total life span Specific instances
Standards Changes Expectations Ongoing
review
Aspects of the Product Life Cycle Stages in product life cycle Overlapping life cycles for two products Extending the product life cycle Summary of product life-cycle characteristics, objectives and strategies
The lifecycle of Products & Services Launch Niche
Abandon
Develop Launch/ Growth
Maturity
Time
Decline
The lifecycle of Products & Services Launch Mktg Costs
High Profits
Rapid Growth Loss Making Early takers
Research Design Testing Develop
Demand Unexpected Quality ?? Launch/ Growth
Fight as The last iceman (Niche)
Competition ‘Me too’ Sales fall Margins squeezed Knowledge diffused High Market share Economies (TQM) Learning curve High Quality Maturity
Extend Life Mktg New Produc New Processes
Or Switch to New Prod/service
Extend Life Ops Cutting costs Decline
Time
The lifecycle of Products & Services Launch
High Profits
Develop Launch/ Growth
Maturity
Time
Decline
Choice One – Extend the Lifecycle Product Innovation
Keep improving the product /service – Use differentiation i.e. be different
Process Innovation
Extend the lifecycle Find newer uses for the product
Service the niche
Choice Two – Newer Products Product One
Product Two
Product Three
Extending the Product Life Cycle Increase Frequency of Use Increase the Number of Users Find New Uses Change Package Sizes, Labels, or Product Quality
The aim is to deliver a product or service in excess of the customer’s expectation Marketing aim delight the customer
Operations Aim Within the capability Sustainable Affordablle
Eliminate Activities that do not add value to the customer
Service Operating System
Suppliers
The key is flow of Information
Customer
Service Encounter
The actual interaction point between a customer and a service provider.
Moments of Truth Each contact is a “moment of truth” Cumulative effect of each encounter that determines the service quality Service process must be designed with the whole extent of the service cycle in mind
Cycle of Service for an Airline Leaves Airport
Customer requests schedule information
Receive Baggage
Makes reservation
Arrives at airport
Departs Plane
Checks baggage and checks in for flight
Receives in-flight service Boards aircraft
Proceeds to gate and security check Receives boarding pass
The Service Encounter Triad Service Organization Efficiency versus autonomy
Efficiency versus satisfaction
Contact Personnel
Customer
Perceived control
Satisfaction Mirror More Repeat Purchases Stronger Tendency to Complain about Service Errors Higher Customer Satisfaction Lower Costs
Better Results
More Familiarity with Customer Needs and Ways of Meeting Them Greater Opportunity for Recovery from Errors Higher Employee Satisfaction Higher Productivity
Improved Quality of Service
Seven Propositions
1 2 3 4 5 6 7
Profit and growth are linked to customer loyalty Customer loyalty is linked to customer satisfaction Customer satisfaction is linked to service value Service value is linked to employee productivity Employee productivity is linked to loyalty Employee loyalty is linked to employee satisfaction Employee satisfaction is linked to internal quality of work life
Service Profit Chain Internal
Operating strategy and service delivery system
Service concept
External Target market
Loyalty
Customers Satisfaction
Employees Capability
Productivity & Output quality
Service value
Satisfaction
Revenue growth
Loyalty
Profitability Service quality
Workplace design Job design/decision-making latitude Selection and development Rewards and recognition Information and communication Adequate “tools” to serve customers
Quality and productivity improvements yield higher service quality and lower cost
Attractive value service designed and delivered to meet targeted customers’ needs
Lifetime value 2. Retention 3. Repeat Business 4. Referral
The Cycle of Capability
Careful employee and customer selection High-quality training Well-designed support systems Greater latitude to meet customer’s needs Clear limits on expectations of employees Appropriate rewards and recognition Satisfied employees Employee referrals of job candidates
The Value Chain – Slide One of two Value Boundaries
M = Margin
Total Margin
Inbound Logistics
Core Activity
Inbound Logistics
Mktg Sales
ADMIN CUS SUP
The Value Chain – Slide two of two M = Margin
Support Activies
Value Boundaries
Tech HR
Primary Activies
Total Margin IP/CC Infra structure Inbound Inbound Operations Logistics Logistics
Mktg Sales
ADMIN CUS SUP
How does leadership influence product improvement and developments?
Learning Objectives Identify the four stages of a life cycle. Explain the significance of overlapping life cycles. Explain the New Product Development Process.
Top Ten Products of All Time What
are they?
Write
down what
you believe they are….
1 2 3 4 5 6 7 8 9 10
Life Cycles
Life Cycles exist for:
Usually dictated by:
Products
Time
Services
Processes/Procedures
Problems
Priority Aging Escalation Target Resolution Times
lines
Total life span Specific instances
Standards Changes Expectations Ongoing
review
Aspects of the Product Life Cycle Stages in product life cycle Overlapping life cycles for two products Extending the product life cycle Summary of product life-cycle characteristics, objectives and strategies
The lifecycle of Products & Services Launch Niche
Abandon
Develop Launch/ Growth
Maturity
Time
Decline
The lifecycle of Products & Services Launch Mktg Costs
High Profits
Rapid Growth Loss Making Early takers
Research Design Testing Develop
Demand Unexpected Quality ?? Launch/ Growth
Fight as The last iceman (Niche)
Competition ‘Me too’ Sales fall Margins squeezed Knowledge diffused High Market share Economies (TQM) Learning curve High Quality Maturity
Extend Life Mktg New Produc New Processes
Or Switch to New Prod/service
Extend Life Ops Cutting costs Decline
Time
The lifecycle of Products & Services Launch
High Profits
Develop Launch/ Growth
Maturity
Time
Decline
Choice One – Extend the Lifecycle Product Innovation
Keep improving the product /service – Use differentiation i.e. be different
Process Innovation
Extend the lifecycle Find newer uses for the product
Service the niche
Choice Two – Newer Products Product One
Product Two
Product Three
Extending the Product Life Cycle Increase Frequency of Use Increase the Number of Users Find New Uses Change Package Sizes, Labels, or Product Quality
The aim is to deliver a product or service in excess of the customer’s expectation Marketing aim delight the customer
Operations Aim Within the capability Sustainable Affordablle
Eliminate Activities that do not add value to the customer
Service Operating System
Suppliers
The key is flow of Information
Customer
Service Encounter
The actual interaction point between a customer and a service provider.
Moments of Truth Each contact is a “moment of truth” Cumulative effect of each encounter that determines the service quality Service process must be designed with the whole extent of the service cycle in mind
Cycle of Service for an Airline Leaves Airport
Customer requests schedule information
Receive Baggage
Makes reservation
Arrives at airport
Departs Plane
Checks baggage and checks in for flight
Receives in-flight service Boards aircraft
Proceeds to gate and security check Receives boarding pass
The Service Encounter Triad Service Organization Efficiency versus autonomy
Efficiency versus satisfaction
Contact Personnel
Customer
Perceived control
Satisfaction Mirror More Repeat Purchases Stronger Tendency to Complain about Service Errors Higher Customer Satisfaction Lower Costs
Better Results
More Familiarity with Customer Needs and Ways of Meeting Them Greater Opportunity for Recovery from Errors Higher Employee Satisfaction Higher Productivity
Improved Quality of Service
Seven Propositions
1 2 3 4 5 6 7
Profit and growth are linked to customer loyalty Customer loyalty is linked to customer satisfaction Customer satisfaction is linked to service value Service value is linked to employee productivity Employee productivity is linked to loyalty Employee loyalty is linked to employee satisfaction Employee satisfaction is linked to internal quality of work life
Service Profit Chain Internal
Operating strategy and service delivery system
Service concept
External Target market
Loyalty
Customers Satisfaction
Employees Capability
Productivity & Output quality
Service value
Satisfaction
Revenue growth
Loyalty
Profitability Service quality
Workplace design Job design/decision-making latitude Selection and development Rewards and recognition Information and communication Adequate “tools” to serve customers
Quality and productivity improvements yield higher service quality and lower cost
Attractive value service designed and delivered to meet targeted customers’ needs
Lifetime value 2. Retention 3. Repeat Business 4. Referral
The Cycle of Capability
Careful employee and customer selection High-quality training Well-designed support systems Greater latitude to meet customer’s needs Clear limits on expectations of employees Appropriate rewards and recognition Satisfied employees Employee referrals of job candidates
The Value Chain – Slide One of two Value Boundaries
M = Margin
Total Margin
Inbound Logistics
Core Activity
Inbound Logistics
Mktg Sales
ADMIN CUS SUP
The Value Chain – Slide two of two M = Margin
Support Activies
Value Boundaries
Tech HR
Primary Activies
Total Margin IP/CC Infra structure Inbound Inbound Operations Logistics Logistics
Mktg Sales
ADMIN CUS SUP
How does leadership influence product improvement and developments?
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