How To Add Text To A Cell With A Formula How Can Product Life Cycle MBA Theory Help You With Online Sales In Your Small Business?

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How Can Product Life Cycle MBA Theory Help You With Online Sales In Your Small Business?

The other day I was talking to an entrepreneur who was selling his stuff on eBay and Amazon. His business is doing well, but he would really like to make $10,000 a month without spending too much more time because he believes in multiple sources of income and wants to expand these other business models as well. My proposal was to introduce new products continuously but on a strategically timed basis. Okay, let’s talk about it.

Have you ever looked at a product life cycle graph in a business textbook? Well, if so, you saw the traditional product life cycle teaching they teach in MBA school, retail and marketing classes. However, we can take this concept and use it for online sales and new product scheduling, consider this concept.

Now imagine a “hill curve” and since it starts at the steepest point, it’s a great time to introduce a new product and start with it, because eventually the first product is a plateau. If you do it right, the new product becomes hyperbolic and dissects the highlights of the first product’s life cycle. If you want to stay hyperbolic, you have to continue to introduce products in the way that companies like Proctor and Gamble and GE are trying to do.

A particularly interesting case study would be INTEL and Apple, as they try to stay in the high profit sweet zone, it will do wonders for their share price. If you have a great product that really cooks but has a shorter life cycle (examples: cell phones, chips, and maybe a social networking add-on or new features), then you can keep the price high and target the “early adopters.” Tech or companies that buy your products so they can be at the forefront of AMD or INTEL.

Looking at this concept, you can see that this concept works for someone who sells many different products online. Maybe you can tell if you have a meteorite product that moves fast but burns out, so you launch your new product when your sales are running out because soon they will burn out and you don’t want your monthly sales. refuel and leave you with cash flow problems. Look at this point from a strategic point of view.

I think you can use mathematical formulas to figure this out, and I imagine that someday there will be Oracle or SAP software connected to the digital nervous system of an enterprise (Bill Gates book; reference “Go ahead”) where there is an AI system, which monitors all outputs. and sales, real-time inventory can do this with 90% accuracy, and it gives managers the information they need to plan and strategize on capital spending, innovation and cash flow. But you can go a long way with the same math because your small business isn’t that complicated; yet.

Best of all, you can break down your business into components and product categories, and then get a great picture of what you’re doing and plot EXACTLY the course you want to get to; where are you going! Think about it.

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