Iveson, A, Hultman, K and Davvetas, V orcid.org/0000-0002-8905-7390 (2022) The Product Life Cycle Revisited: An Integrative Review and Research Agenda. European Journal of Marketing, 56 (2). pp. 467-499. ISSN 0309-0566
Abstract
Purpose
This paper aims to respond to calls in academia for an update of the product lifecycle (PLC). Through a systematic literature review, the authors provide an updated agenda, which aims to advance the PLC concept in research, teaching and practice.
Design/methodology/approach
The authors started by surveying 101 marketing academics globally to ascertain whether a PLC update was viewed necessary and beneficial in the marketing community and thereafter conducted citation analysis of marketing research papers and textbooks to ascertain PLC usage. The subsequent literature review methodology was split into two sections. First, 97 empirical articles were reviewed based on an evaluative framework. Second, research pertaining to the PLC determinants were assessed and discussed.
Findings
From the results of this review and primary data from marketing academics, the authors find that the method of predicting the PLC based on past sales has been largely unsuccessful and perceived as somewhat outdated. However, a new stream of PLC literature is emerging, which takes a consumer-centric perspective to the PLC and has seen more success at modeling lifecycles in various industries.
Research limitations/implications
First, the study outlines the most contemporary and successful methodological approaches to modeling the PLC. Namely, the use of artificial intelligence, big data, demand modeling and consumer psychological mechanisms. Second, it provides several future research avenues using modern market trends such as sustainability, globalization, digitization and Covid-19 to push the PLC into the 21st century.
Originality/value
The PLC has shown to be resolutely popular in management application and education. However, without a continued effort in academic PLC research to update the knowledge around the concept, its use as a productive management tool will likely become outdated. This study provides a necessary and comprehensive literature update resulting in actionable future research and teaching agendas intended to advance the PLC concept into the modern market context.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2021, Emerald Publishing Limited. This is an author produced version of an article published in European Journal of Marketing. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | PLC; Product lifestyle; Research agenda; Strategy |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Marketing Division (LUBS) |
Depositing User: | Symplectic Publications |
Date Deposited: | 07 Dec 2021 11:14 |
Last Modified: | 26 Jul 2022 08:28 |
Status: | Published |
Publisher: | Emerald |
Identification Number: | 10.1108/EJM-08-2020-0594 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:181137 |