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How Product Life-Cycle Management (PLM) Impacts Product Design.

Explain how product life-cycle management (PLM) impacts product design.

Your response should be at least 200 words in length. Please help I know it is not a ready to turn in paper.

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Explain how product life-cycle management (PLM) impacts product design.

Product life-cycle management (PLM) is a systematic pathway used by the manufacturer of a product to regulate the different stages its product goes through (Kotler & Keller, 2012). By identifying what is going on in each stage, a product manufacturer can adequately adjust to market needs. PLM consist of:

(1) Market Introduction Phase: Product is first introduced in the market, the price is high, and consumers' demand is usually low. The opposite is the case for quality products with unique designs and excellent performance. Observation of increase or decrease in demand of the product within a short period allows ...

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The expert explains how product life-cycle management (PLM) impacts product design. References are provided.

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