Learning from existing products and practice - 2/2

What are the 4 parts of the product life cycle?

Intro, growth, maturity, decline

What is the intro?

marked by the launch of a new product into the market

What is the growth?

sales begin to increase as more consumers adopt the product

What is maturity?

sales growth slows down as the market becomes saturated, and most potential customers have adopted the product

What is decline?

occurs when sales start to decline due to factors such as changing consumer preferences, technological advancements, or the emergence of substitute products

What is a life cycle assessment?

used to evaluate the environmental impact of a product

What are the 6 main parts of the life cycle of a product?

1) Raw material extraction
2) Material processing
3) Manufacturing
4) Assembly
5) Product Use
6) Disposal

What is the mnemonic used to memories the life cycle of a product?

Rat Men Making Awesome Powerful Diapers

What does Rat mean?

Raw Material Extraction

What does Men mean?

Material processing

What does Making mean?

Manufacturing

What does Awesome mean?

Assembly

What does Powerful mean?

Product Use

What does Diapers mean?

Disposal