Course Description
The term “life cycle” isn’t just for biology class. It’s also the key framework in a product’s evolution, and like the life cycle of living things, the product life cycle has stages that are crucial and inevitable. Understanding these stages and the signs that indicate when a product is moving through each one is essential for the role of the product manager, who must make decisions that not only impact the product’s launch and growth but also their company’s strategy and bottom line.
In these lessons on Introducing the Product Life Cycle, you’ll learn about the four stages of the product life cycle. You’ll discover the difference between product management and product development, as well as how to use a product roadmap to align resources and investments in your product. You’ll also learn the limitations of the cycle and that accepting its weaknesses along with its strengths is vital for successfully guiding a product from ideation to completion.
Learning Objectives:
- Understand the four stages of the product life cycle and how they work together
- Recognize the signs of each stage to better gauge where a product is in the cycle
- Understand the difference between product development and product management
- Discover the limitations of the product life cycle that can create roadblocks for a product
- Learn what a product roadmap is and how to design that will align company strategy and resources with the product’s goals
What You'll Learn
- Understand the four stages of the product life cycle and how they work together
- Recognize the signs of each stage to better gauge where a product is in the cycle
- Distinguish between product development and product management
- Identify the limitations of the product life cycle that can create roadblocks for a product
- Learn what a product roadmap is and how to design one that aligns company strategy and resources with the product's goals
Key Takeaways
- The product life cycle is the key framework in a product's evolution, with stages that are crucial and inevitable, much like the life cycle of living things.
- The course covers the four stages of the product life cycle and the signs that indicate when a product is moving through each one.
- Understanding the life cycle stages is essential for the product manager, whose decisions impact the product's launch and growth as well as the company's strategy and bottom line.
- A product roadmap is used to align resources and investments with the product's goals.
- Accepting the weaknesses of the product life cycle along with its strengths is vital for successfully guiding a product from ideation to completion.
Frequently Asked Questions
Who is this course for?
It is geared toward the role of the product manager, who must make decisions that impact a product's launch and growth as well as the company's strategy and bottom line.
What does this course cover?
It covers the four stages of the product life cycle, the difference between product management and product development, how to use a product roadmap to align resources and investments, and the limitations of the cycle.
What is the difference between product development and product management in this course?
The course explains the difference between product development and product management as part of teaching how the product life cycle applies to each.
Does the course address the weaknesses of the product life cycle?
Yes. It covers the limitations of the product life cycle that can create roadblocks, noting that accepting its weaknesses along with its strengths is vital for guiding a product from ideation to completion.
How is the course structured?
It is organized into lessons including an Introduction, Understanding the Product Life Cycle Model, The Product Life Cycle and Product Development, The Product Life Cycle and Product Management, Limitations of the Product Life Cycle Model, and a Test Your Knowledge section.
