RESEARCH IS VITAL IN THE ENTIRE PRODUCT LIFE CYCLE
Product development research contributes to each step of the product life cycle, especially in case R&D is approached outside-in.
There is no product or service in place yet, and additions and modifications still need to be determined. Here it is all about identifying needs in the concerned market. It can be said that competition is fierce for the installation, construction, & DIY markets, with multiple competitors striving to become most successful.
Introduction/ growth stage
First of all, by the time the concept is ready to be launched, it is important to keep track of the unmet needs regarding the product or the service at hand. Secondly, you want it to be picked up in an effective way by the target audience in terms of communication.
In this stage it is still about pinpointing the unmet needs within the product and service portfolio. What should be added or modified in order to optimise the fulfilment of customer needs?
Revitalising what you already have in order to make it future-proof is at the essence of this stage. Like in the maturity phase, the question is what should be added or modified.