From an economic perspective, the appeal of a product diminishes over time. However, volatile markets and divergent technological advancements make it challenging to anticipate when and to what extent changes will be necessary. Therefore, it is important to be able to integrate changes after a product's launch. This paper provides an overview of different perspectives on the product lifecycle. In addition, the paper presents an empirical study on implementing changes at an automobile manufacturer.
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Beibl et al. (2024) studied this question.
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