Nothing lasts forever (service lifecycle)

This article introduces the service lifecycle and the organizational implications for those companies that take up the challenge of manufacturing the original product and delivering ongoing service provision to the customers who buy it. The service lifecycle applies to maintenance of products that have a fairly long life and require a good deal of service, and covers the installed base of products needing maintenance. As with product lifecycle, there are four stages that best describe the service lifecycle: rapid growth; transition; maturity and end of life. The product lifecycle has a long track record as a marketing model. Less well known is the service lifecycle, which can be viewed as of critical importance when providing high value capital, engineering, products. Reviewing these models in tandem highlights some of the strategic decisions open to layers in these markets and highlights the importance of market scanning and analysis.