Product Life Cycle is definitely an important term in marketing. Inc.com page on product life cycle is the best one I have seen. I think the concept of extending the product life is quite an interesting one. It is not always about introducing new products and pushing the latest technology. In semiconductor industry, there is constant pressure to reduce cost and to shrink the devices, so perhaps it is not all about developing new products and investing in new design tools. A balance between extending product life cycle and a razor sharp focus on addressing customer needs is the way to go.
Here is an interesting case study by Kellogg’s on extending the product lifecycle
- 5 Lessons from Warren Buffett’s Letters (business.time.com)
- Manage Product Portfolio Efficiently Using PLM! (plmreact.com)