Product Life Cycle and Product Development Cycle of "Fitted" Mobile Fitness App

Outline the product life cycle and product development cycle for your final project company.

When we were asked to brainstorm an idea for our final project company, I had a plethora of ideas. It was challenging to identify the most compelling idea. Vivek suggested that we think from the perspective of a potential customer: our friends, family, coworkers, etc.--what are their biggest problems? As I surveyed multiple individuals, "healthy living" and "fitness" were common themes. Within those categories, the largest issue for many was figuring out a way to tone very targeted parts of the body (ex: triceps because that area of arms is jiggy). From there, "Fitted" was born.

Problem: people want to tone targeted parts of their bodies but do not know the best exercises for specific areas.
Solution: "Fitted" app allows users to select exact areas of the body to work out and shows users best exercises (most results in least amount of time) based on the target areas.

Product Life Cycle

The graph above depicts a product's typical life cycle. The product life cycle for "Fitted" would look like the following:

1. Development: stage in which PM identifies needs, works with developers and designers to build features that address valid needs (validation through market research) and test beta versions with select testing groups. For "Fitted," I would survey more people with varied demographics to validate the need for a targeted exercise application. I would work with iOS and Android software engineers as well as UX designers to build a MVP mobile application. We would get feedback from everyday users as well as fitness experts, then iterate. 

2. Introduction: once product has gone through first few iterations and is fully functional, app will be launched in iOS App Store and Android Play Store. Given the complexity of Android, iOS launch will be prioritized.

3. Growth: in its growth stage, "Fitted" will experience revenue growth through marketing (user acquisition and advertising). Growth hacking techniques will be deployed, including building features that incentivizes friend referrals.

4. Maturity: "Fitted" will reach a mature stage when many have heard / downloaded app. Product growth slows down. By this point there will have been numerous iterations of the app. App will likely have complex features, many of which drive monetization. Marketing spend decreases given rapidly diminishing returns / cost ratio.

5. Decline: in time, competitors will likely have incorporated similar features to those in "Fitted." Once sales start as well as user retention / activity drop, "Fitted" is in its decline phase.

Product Development Cycle

1. Identify: 

• Problem: people want to tone targeted parts of their bodies but do not know the best exercises for specific areas.
• Solution: "Fitted" app allows users to select exact areas of the body to work out and shows users best exercises (most results in least amount of time) based on the target areas.

2. Plan:

• Market Research
• Competitive Analysis
• Business Case Development
• Customer Interviews
• Roadmapping
• Strategic Product Plan

3. Develop: 

• Timeline
• Features
• Story / Specs
• Resource Management
• Develop

4. Evaluate: 

• Early Feedback
• Test Assumptions
• Multiple Releases
• Tweak and Evaluate (Iterative)

5. Launch:

• Press Announcement and Interviews
• Revenue
• Post Mortem
• Public Launch

6. Assess:

• Collect Metrics
• Analyze and Optimize ROI
• Support Marketing & Sales Efforts
• Assess Continued Efforts

7. Maintain or Kill:

• Major Upgrade
• Begin Cycle All Over
• Freeze Feature Set and Manage Revenue Levels
• Transition to End of Life
• Message Users
• Establish EOL Plan

Given the ease of iteration, Agile process will be used to develop the product.