As a consultant, I was hired by many different companies to do many different things. But, one of the tasks I received most often was to find out if the money being spent on marketing and sales was allocated appropriately to yield the best return. I'd hear questions like:
"Where should I allocate the budget in order to see a profit?"
"Why isn't my investment in sales and marketing working?"
And each time, my response was the same: “Before I can tell you anything, let’s take a look at your product lifecycle.”
I know people understand concepts better when you use pictures to illustrate what's going on, so I built the chart below to visualize a product lifecycle and to help a company's leadership know when and where to shift spending.