Managing Growth of Product Lifecycle at Maturity Level: A Systematic Literature Review

Teshome Bekele Nege; Shimels Zewdie Werke

doi:doi:10.11648/j.ebm.20241003.11

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Managing Growth of Product Lifecycle at Maturity Level: A Systematic Literature Review

Teshome Bekele Nege^*, Shimels Zewdie Werke

Published in European Business & Management (Volume 10, Issue 3)

Received: 12 June 2024 Accepted: 2 July 2024 Published: 15 July 2024

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Abstract

Through the synthesis and analysis of 64 papers, from JSTOR, ScienceDirect, and Google Scholar data bases, include 2010-2024 of 15 years duration paper works. this systematic literature review identified major themes and provided insights into growth management strategies, marketing tactics, challenges, and opportunities, benefits, that managers confront in their quest to sustain competitiveness and profitability in mature markets. Product diversification, market segmentation, innovation management, cost-effective lifecycle planning, price strategies, market expansion, client retention, alliances, and collaboration are a few examples of important tactics. The difficulties include growing rivalry, market saturation, shrinking profit margins, and shifting consumer tastes. To maintain competition, there are nevertheless still chances to take advantage of economies of scale, brand equity, and customer loyalty. The review's insights deepen our understanding of how businesses may best manage opportunities and overcome obstacles to maximize product lifecycle management at various stages of maturity. By providing a comprehensive understanding of the existing body of knowledge, this review offers valuable insights for practitioners, managers, and researchers aiming to enhance product lifecycle management (PLM) strategies at the maturity level, ultimately contributing to the development of more resilient and adaptive business models and research gaps have identified that enabled to provide future research directions.

Published in	European Business & Management (Volume 10, Issue 3)
DOI	10.11648/j.ebm.20241003.11
Page(s)	31-43
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Product Lifecycle Maturity, Product Lifecycle Management, Growth Strategies

References

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Nege, T. B., Werke, S. Z. (2024). Managing Growth of Product Lifecycle at Maturity Level: A Systematic Literature Review. European Business & Management, 10(3), 31-43. https://doi.org/10.11648/j.ebm.20241003.11

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Nege, T. B.; Werke, S. Z. Managing Growth of Product Lifecycle at Maturity Level: A Systematic Literature Review. Eur. Bus. Manag. 2024, 10(3), 31-43. doi: 10.11648/j.ebm.20241003.11

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Nege TB, Werke SZ. Managing Growth of Product Lifecycle at Maturity Level: A Systematic Literature Review. Eur Bus Manag. 2024;10(3):31-43. doi: 10.11648/j.ebm.20241003.11

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@article{10.11648/j.ebm.20241003.11,
  author = {Teshome Bekele Nege and Shimels Zewdie Werke},
  title = {Managing Growth of Product Lifecycle at Maturity Level: A Systematic Literature Review
},
  journal = {European Business & Management},
  volume = {10},
  number = {3},
  pages = {31-43},
  doi = {10.11648/j.ebm.20241003.11},
  url = {https://doi.org/10.11648/j.ebm.20241003.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ebm.20241003.11},
  abstract = {Through the synthesis and analysis of 64 papers, from JSTOR, ScienceDirect, and Google Scholar data bases, include 2010-2024 of 15 years duration paper works. this systematic literature review identified major themes and provided insights into growth management strategies, marketing tactics, challenges, and opportunities, benefits, that managers confront in their quest to sustain competitiveness and profitability in mature markets. Product diversification, market segmentation, innovation management, cost-effective lifecycle planning, price strategies, market expansion, client retention, alliances, and collaboration are a few examples of important tactics. The difficulties include growing rivalry, market saturation, shrinking profit margins, and shifting consumer tastes. To maintain competition, there are nevertheless still chances to take advantage of economies of scale, brand equity, and customer loyalty. The review's insights deepen our understanding of how businesses may best manage opportunities and overcome obstacles to maximize product lifecycle management at various stages of maturity. By providing a comprehensive understanding of the existing body of knowledge, this review offers valuable insights for practitioners, managers, and researchers aiming to enhance product lifecycle management (PLM) strategies at the maturity level, ultimately contributing to the development of more resilient and adaptive business models and research gaps have identified that enabled to provide future research directions.
},
 year = {2024}
}

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TY  - JOUR
T1  - Managing Growth of Product Lifecycle at Maturity Level: A Systematic Literature Review

AU  - Teshome Bekele Nege
AU  - Shimels Zewdie Werke
Y1  - 2024/07/15
PY  - 2024
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DO  - 10.11648/j.ebm.20241003.11
T2  - European Business & Management
JF  - European Business & Management
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AB  - Through the synthesis and analysis of 64 papers, from JSTOR, ScienceDirect, and Google Scholar data bases, include 2010-2024 of 15 years duration paper works. this systematic literature review identified major themes and provided insights into growth management strategies, marketing tactics, challenges, and opportunities, benefits, that managers confront in their quest to sustain competitiveness and profitability in mature markets. Product diversification, market segmentation, innovation management, cost-effective lifecycle planning, price strategies, market expansion, client retention, alliances, and collaboration are a few examples of important tactics. The difficulties include growing rivalry, market saturation, shrinking profit margins, and shifting consumer tastes. To maintain competition, there are nevertheless still chances to take advantage of economies of scale, brand equity, and customer loyalty. The review's insights deepen our understanding of how businesses may best manage opportunities and overcome obstacles to maximize product lifecycle management at various stages of maturity. By providing a comprehensive understanding of the existing body of knowledge, this review offers valuable insights for practitioners, managers, and researchers aiming to enhance product lifecycle management (PLM) strategies at the maturity level, ultimately contributing to the development of more resilient and adaptive business models and research gaps have identified that enabled to provide future research directions.

VL  - 10
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Teshome Bekele Nege

Department of Management, College of Business and Economics, Jimma University, Jimma, Ethiopia

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Shimels Zewdie Werke

Department of Management, College of Business and Economics, Jimma University, Jimma, Ethiopia

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Nege, T. B., Werke, S. Z. (2024). Managing Growth of Product Lifecycle at Maturity Level: A Systematic Literature Review. European Business & Management, 10(3), 31-43. https://doi.org/10.11648/j.ebm.20241003.11

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Nege, T. B.; Werke, S. Z. Managing Growth of Product Lifecycle at Maturity Level: A Systematic Literature Review. Eur. Bus. Manag. 2024, 10(3), 31-43. doi: 10.11648/j.ebm.20241003.11

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Nege TB, Werke SZ. Managing Growth of Product Lifecycle at Maturity Level: A Systematic Literature Review. Eur Bus Manag. 2024;10(3):31-43. doi: 10.11648/j.ebm.20241003.11

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@article{10.11648/j.ebm.20241003.11,
  author = {Teshome Bekele Nege and Shimels Zewdie Werke},
  title = {Managing Growth of Product Lifecycle at Maturity Level: A Systematic Literature Review
},
  journal = {European Business & Management},
  volume = {10},
  number = {3},
  pages = {31-43},
  doi = {10.11648/j.ebm.20241003.11},
  url = {https://doi.org/10.11648/j.ebm.20241003.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ebm.20241003.11},
  abstract = {Through the synthesis and analysis of 64 papers, from JSTOR, ScienceDirect, and Google Scholar data bases, include 2010-2024 of 15 years duration paper works. this systematic literature review identified major themes and provided insights into growth management strategies, marketing tactics, challenges, and opportunities, benefits, that managers confront in their quest to sustain competitiveness and profitability in mature markets. Product diversification, market segmentation, innovation management, cost-effective lifecycle planning, price strategies, market expansion, client retention, alliances, and collaboration are a few examples of important tactics. The difficulties include growing rivalry, market saturation, shrinking profit margins, and shifting consumer tastes. To maintain competition, there are nevertheless still chances to take advantage of economies of scale, brand equity, and customer loyalty. The review's insights deepen our understanding of how businesses may best manage opportunities and overcome obstacles to maximize product lifecycle management at various stages of maturity. By providing a comprehensive understanding of the existing body of knowledge, this review offers valuable insights for practitioners, managers, and researchers aiming to enhance product lifecycle management (PLM) strategies at the maturity level, ultimately contributing to the development of more resilient and adaptive business models and research gaps have identified that enabled to provide future research directions.
},
 year = {2024}
}

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TY  - JOUR
T1  - Managing Growth of Product Lifecycle at Maturity Level: A Systematic Literature Review

AU  - Teshome Bekele Nege
AU  - Shimels Zewdie Werke
Y1  - 2024/07/15
PY  - 2024
N1  - https://doi.org/10.11648/j.ebm.20241003.11
DO  - 10.11648/j.ebm.20241003.11
T2  - European Business & Management
JF  - European Business & Management
JO  - European Business & Management
SP  - 31
EP  - 43
PB  - Science Publishing Group
SN  - 2575-5811
UR  - https://doi.org/10.11648/j.ebm.20241003.11
AB  - Through the synthesis and analysis of 64 papers, from JSTOR, ScienceDirect, and Google Scholar data bases, include 2010-2024 of 15 years duration paper works. this systematic literature review identified major themes and provided insights into growth management strategies, marketing tactics, challenges, and opportunities, benefits, that managers confront in their quest to sustain competitiveness and profitability in mature markets. Product diversification, market segmentation, innovation management, cost-effective lifecycle planning, price strategies, market expansion, client retention, alliances, and collaboration are a few examples of important tactics. The difficulties include growing rivalry, market saturation, shrinking profit margins, and shifting consumer tastes. To maintain competition, there are nevertheless still chances to take advantage of economies of scale, brand equity, and customer loyalty. The review's insights deepen our understanding of how businesses may best manage opportunities and overcome obstacles to maximize product lifecycle management at various stages of maturity. By providing a comprehensive understanding of the existing body of knowledge, this review offers valuable insights for practitioners, managers, and researchers aiming to enhance product lifecycle management (PLM) strategies at the maturity level, ultimately contributing to the development of more resilient and adaptive business models and research gaps have identified that enabled to provide future research directions.

VL  - 10
IS  - 3
ER  -

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