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find that the method of predicting the PLC based on past sales has been largely unsuccessful and perceived as somewhat outdated.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PLC research to update the knowledge around the concept, its use as a productive management tool will likely become outdated.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.
This paper investigates the relationship between firm crisis behavior and the resulting consumer–brand relationship (CBR) response. Drawing from theoretical traditions in brand transgressions, service failure, and crisis communications, we use longitudinal survey data combined with archival social media data to empirically test the effect of crisis response speed and crisis information strategy on the short‐term consumer crisis response evaluations (1 month after crisis response), and the long‐term CBR (1 year after crisis response). Results show that, contrary to intuitive expectations, a faster firm response is not always better, as a slower response was found to result in higher crisis response evaluations. We also show that this effect depends on the consistency of the communication strategy with the first active response. Specifically, when a firm prioritizes safety information (instructing strategy), a faster response is better. Whereas, when the firm prioritizes well‐being information (adjusting strategy), a slower response is better. We argue the counterintuitive finding that a slower response is better implies that reacting too quickly may signal rashness and unpreparedness to the customer, leading to more negative evaluations. We term this distinction the difference between being responsive (fast but considered) and reactive (faster but rash).
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