What are the weakness of product life cycle?
The product life cycle is the model used by product managers to determine strategy for a product (especially its pricing). For example, a new DVD with lots of features will be priced at a premium when first launched (often to recover development costs which is why early adopters tend to pay a premium). When the product matures it becomes a commodity and the pricing tends to drop according to volume sold and competitive activity. One of the fundamental weaknesses of the product life cycle is that it doesn’t really cater for innovation. It assumes that the product will go full cycle. If you are Apple, for example, you might cannibalise your own product (use the iPod as an example) by replacing it continually. This does two things: it leaves competitors playing catch-up and it means the product doesn’t see through the complete product life cycle. Another weakness is that it is quite predictable. So if you know that widgets are now mature, you also know what strategies your competitors are
