Final answer:
The conventional process of the product cycle in the conventional manufacturing environment involves several stages: Idea Generation, Product Development, Production, Marketing and Sales, and Maturity and Decline.
Step-by-step explanation:
The conventional process of the product cycle in the conventional manufacturing environment involves several stages:
- Idea Generation: This is the first stage where ideas for new products are generated through market research, customer feedback, and brainstorming sessions.
- Product Development: Once an idea is chosen, it goes through the product development phase where the concept is turned into a tangible product through design, prototyping, and testing.
- Production: After the product development phase, the actual production begins. This involves sourcing raw materials, setting up manufacturing facilities, and assembling the product.
- Marketing and Sales: After the product is produced, it is then marketed and sold to the target audience through various channels such as advertising, promotions, and distribution.
- Maturity and Decline: Eventually, the product reaches a maturity stage where sales stabilize, and then a decline stage where sales decline due to market saturation or obsolescence.