My Business Idea
Let`s discuss Product lifecycle
Well, everything starts at the point “development” when I with my colleagues bakers decide what product to put on the market.
When we have decided everything, I mean, cost of the product, design of it and amount of production, there starts the second point “introduction” when product is offered to the customers.
Next the popularity of product is growing and at the point “maturity” it reaches its highest point, I mean, we reach the highest profit of this product.
Then popularity of product decreases and it is necessary to think about developing new product.
In the food industry this process is occurring very fast, what means that we should continually develop new products. Actually it is not that hard to produce new products, but it is harder to combine both - producing at the lowest cost (but considering quality standarts) and maintain the highest level of customer`s satisfaction.
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