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Introduction:
To achieve success, a product requires a well-defined process that involves multiple roles such as product managers, designers, developers, business and data analysts, quality assurance engineers, content providers, and merchandisers. A competent product manager must adopt a holistic approach and systematically oversee every aspect of the product lifecycle. In this series of podcasts, I, Sachin Sharma, with over 10 years of experience in product management and mentorship of over 1000 Aspiring product managers, will provide insights into my approach to product management, covering various aspects of the product lifecycle. In today’s podcast, I will share with you the “Six Ds” of the product lifecycle.
The Six Ds of Product Lifecycle:
1. Define:
The first stage in these six Ds is “Define,” which is all about identifying the needs of the market and the target audience. Using the example of the iPhone, Apple identified a gap in the market for a smartphone that combined phone, music player, and internet browsing capabilities. Extensive market research and consumer testing helped understand the needs and wants of their target audience.
2. Design:
The second stage is “Design,” involving creating a product that meets the needs identified in the “Define” stage. Apple focused on creating a sleek and modern design for the iPhone, including a touch screen interface, minimalist design, and an intuitive user experience. They invested heavily in design to set the iPhone apart from other smartphones.
3. Develop:
The third stage is “Develop,” which turns the design into a functional product. Apple spent years developing the technology behind the iPhone, including hardware, software, and the App Store ecosystem. Close collaboration with suppliers and developers ensured high quality and user-friendliness.
4. Deploy:
The fourth stage involves “Deploying” the product to the market. Apple created a buzz around the iPhone launch through marketing and PR campaigns. The first iPhone release in 2007 quickly became a cultural phenomenon, with people lining up for hours to get their hands on it.
5. Deliver:
The fifth stage is “Deliver,” which involves providing ongoing support and updates for the product. Apple continuously updates the iPhone with new features, providing ongoing value to customers. They also offer customer support and repair services to ensure customer satisfaction.
6. Decommission or Decommission:
The final stage is “Decommission” or “Decommissioning,” which involves retiring the product from the market. Apple discontinues older iPhone models as new ones are released. However, they continue to provide support and software updates for older models for a certain period.
The “Six Ds” of the product lifecycle is a framework applicable to any product or service. Understanding each stage helps businesses effectively manage their products, provide ongoing value to customers, and achieve product success.
Conclusion:
That concludes today’s podcast on the “Six Ds” of the product lifecycle. I hope you’ve gained valuable insights into managing the various stages of product development. To further your product management journey, consider joining my community by attending my free training at Catchupwithsachin.com/saw-live. For community members, I highly recommend upgrading to the Diamond membership to accelerate your product management skills and connect with other high achievers.
Thank you for tuning in, and we’ll see you next time.
