Toward meso-level product-market network indices for strategic product selection and (re)design guidelines over the product life-cycle

Abstract

Many methods to arrive at a product-market choice through selection and\n(re)design assume stationary demand and a stable range of products to pick\nand maximize profit trading off operational performance in manufacturing versus\n(under)servicing certain market segments. The determination and decisiveness\nin the product-market choice and marketing and manufacturing strategies\nare likely to be different when anticipating technological change and (ensuing)\nshifts in demand and competition of which the timing and direction is often\nuncertain. As the product life-cycle pattern describes such changes in market,\ntechnology and competition over time, we can use the stylization thereof\nto derive strategic and forward-looking product selection and (re)design decisions.\nWe introduce the notion of a meso-level product-market network and\ntwo indices to quantify features of that network. We then relate index values\nover time to phases in the meso-level product life-cycle to derive micro-level,\nforward-looking product selection and (re)design guidelines that anticipate developments\nin the industry.We also uncover the different roles of the marketing\nand engineering departments in the various product life-cycle phases.\nKeywords: Product-Market Network; Product Selection and Design; Network Index;\nMarketing-Manufacturing Interface; Technological Change; Product Life-Cycle

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