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Essay / Research Paper Abstract
This 4 page paper looks at the current lifecycle stage of integrated medical management and billing software, argues and justifies the opinion that it is in the market growth stage and looks at the value, financial and management implications of this stage. The bibliography cites 2 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TELCmedical.rtf
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Unformatted sample text from the term paper:
may differ, but there are certain common characteristics. Information technology is often seen as new technology and in the early development stages, but if we look at an integrated medical
management and billing software we may argue that this is on the later growth stages. To consider how and why this is we need to look at the lifecycle model
in relation to this assertion. The life cycle of a product has five stages, development, market introduction, market growth, market maturity and market decline. The development of a product
is the time when it is being developed and not available to be purchased. It is at this stage that there is the greatest amount of flexibility. It is also
at this stage that there is investment with no reality of return (Perrault and McCarthy, 1997). There is little doubt that the software in on the marker. There is constant
development to add new features and increase the functionality in order to differentiate the product so some elements may be in the development stage, but as the product is on
the market it cannot be classified as in the development stage. This means all of the sunk costs have already been suffered. The next stage is the market introduction
stage there will be low level sales. The people purchasing the product are likely to be innovators, prepared to pay more for new technology and a new product. The sales
may be erratic at this time, as the market is only being developed (Kotler, 2003, Perrault and McCarthy, 1997). This is also a time when there will be few
returns from the investment, at the same time there is also a need for the investment to increase as a result of the marketing. This stage is also a stage
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