PRODUCT DEVELOPMENT STRATEGY THROUGH PRODUCT LIFE CYCLE INTEGRATION AND SWOT ANALYSIS

Abstract

Product development is one of the keys to a product life cycle in a company. In retail companies, distributors of viral beauty products also have a life cycle center at the age of a viral product that cannot be predicted. So business owners must prepare alternative strategies for development through their internal and external resources through their strengths, weaknesses, challenges, and threats (SWOT). This research was conducted on one of the viral products owned by a beauty product company/store. Data was collected by means of observation, interviews, and study of company documents. The analysis method uses an internal external SWOT analysis matrix (Strengths, Weaknesses, Opportunities, and Threats). This analysis is used to determine the internal and external potential of the company. The next method of analysis is to use the principle of the product life cycle (PLC). From these 2 SWOT and PLC analyses, several alternative strategies were produced to develop sales as well as control over the viral product life cycle based on the PLC study conducted. This research is focused on companies in the field of beauty products with special cases on products that are viral or rising periodically. Recommendations for further research are to further develop subject projections with a wider range of cases so that they can provide a broader picture as well as strategies.

https://doi.org/10.5281/zenodo.7680449