Evaluate two to four (2-4) weaknesses that are evident in the selected organization’s product life cycle. Generate a new product design and product selection, and then determine three (3) strategies that the organization needs to strengthen the operation.
Product Life Cycle (PLC) is known as the stages in its lifetime that a product goes through, where the demand changes over time. [Rei132. With that in mind, The Home Depot has two generic brand products within the store one is HDX that could be found in almost every department of the store, this product usually doesn’t carry a warranty and for the most part it is built for residential use due to it lower prices and quality point. Whereas, Husky is the other company’s house brand, in which this product carries a warranty and a bit more expensive but with great quality. Meaning the stages of products, whether new or old go through or their growth in the market place that is influenced by Market Demand. For instance, Managers in Leadership need to know what stage a product is in due to the benefit of a devise marketing program for product sales due to, a product goes beyond itself if its presented to the store proper, the way it is packed and the service as well customer service and warranties that is offered for the product from within the company. (Ehmke, Fulton, Lusk, 2005). Consequently, the Home Depot has weaknesses in its Product Life Cycle for their HDX line of products when it comes to the introduction and growth