Review Article
Managing Growth of Product Lifecycle at Maturity Level: A Systematic Literature Review
Teshome Bekele Nege*,
Shimels Zewdie Werke
Issue:
Volume 10, Issue 3, June 2024
Pages:
31-43
Received:
12 June 2024
Accepted:
2 July 2024
Published:
15 July 2024
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.
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 co...
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