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Product Stage

One of the biggest challenges for software vendors is to manage the transformation through their product lifecycle – from early stage to growth, mature and decline stages of the product. This transformation is like crossing the chasm, as it demands varying combinations of skills, processes and disciplines throughout a product's lifecycle.

ISVs also encounter a continuously changing marketplace in terms of the number of competitors, their strategies, product lines, pricing and profitability. These changes in the competitive market structure vary at different stages of product evolution.
product lifecycle

EARLY STAGE

 

GROWTH STAGE

Begins with a robust new product idea

The market is small and growing

There are few or no competitors

Finally, there are few beta customers

 

Starts from a couple or more proven customers to a rapidly growing customer base

Increasing competition in the market

Focus on building customer relationships and increasing the number of customers

Approach towards profitability

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MATURE STAGE

 

DECLINE STAGE

Tremendous increase in the volume of sales

The product is well established in the market

Focus is on increasing market share and exploring newer markets

Feature introductions to the product to differentiate from competing products

 

The market is saturated with myriad products

Re-focus on service and maintenance revenues rather than new-license revenues for old product lines

The products become technologically obsolete

Need for ISVs to focus on product innovation /diversification of product lines/ finding new uses and markets for the product.

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Customer Speak

As a startup company we had limited development funds, and we found that our user requirements were growing well beyond what we had initially anticipated. It became clear, given our budget constraints and our desire to access the market as quickly as possible, that we needed to have a larger development team. And since we had limited resources, the offshore model was the best option. By outsourcing to Aspire, TeleGrow has saved about 60% of its development costs!

Tom Murray, CEO, TeleGrow