FAST TRACK WITHDRAWAL PHASE

|Product LifeCycle Planning Framework - FastTrack Conceptual Phase

Most products / services have a finite life and will be withdrawn from the market when no longer strategically important to associated products / services. The decision to withdraw a product may be the result of falling sales, costs to support, cost to produce etc. and any combinations of the above.

The final decision to withdraw a product is decided at the peer review group meeting, however the recommendation to withdraw must come from the Product Manager first. Strategic planning is therefore an integral part of the withdrawal phase because the product / service may impact in to other products within the portfolio and therefore requires careful evaluation before taking action.

In common with all previous phases a situational analysis study (a continuous review of the market environment) followed by a strategic review of business opportunities continues throughout the ‘Product Withdrawal Phase’ with any deviations (from previous expectations) recorded and appropriately reported.

The Product Withdrawal Phase incorporates the following (primary) management activities;

    • Stakeholder Management (multi-disciplinary) ~ membership phase related.

    • Discontinuance analysis / study

    • Business Plan update ~ Closure strategies

    • Product Withdrawal notification

    • End of life spares policy ~ defined

    • Product Closure / Mkt. Disengagement strategies.

    • Business Review ~ Peer review group meeting.

The ‘Product Withdrawal Phase’ of the Product Management Process follows sequentially from the ‘Active LifeCycle Phase’.

|PMM Business Planning Framework - Orientation

The ‘Fast Track’ Process, as the name suggests, is specifically designed to meet the requirements of products and services that require a Fast Track to market. The process represents a collection of key processes/tools covering the critical elements only. Entrepreneurs may find this process aligns more to their particular needs, however care must be taken if this route is chosen and will depend upon individual circumstances, as the level of risk may not have been appropriately assessed.

For Product Managers who are working in a more 'traditional' planning framework, strict entry criterion to the Fast Track process ensures that this does not become the norm for all products joining the portfolio. This is due to the additional commercial risk that may be associated with this planning route.

Note:

Once the product has been released (and moves into Active LifeCycle phase) the activity of Product Management would be to the same or very similar to the 'end to end' process as detailed above.

Product Withdrawal Phase

Product Withdrawal Phase

|PMM Process Orientation - Professional Support