PRODUCT LIFECYCLEwww.exhibition-world.net Issue 8 | 201123VNU EXHIBITIONS EUROPE OPERATES 53 TRADE AND CONSUMER SHOWS IN 20 MARKETS, RUNS NINE ONLINE PRODUCTS AND EIGHT SUMMITS. HOW DOES IT KEEP ITS PORTFOLIO HEALTHY? 2010. Even more astonishing - in relation to this topic - is that 70 per cent of those revenues did not even exist in 2001. As organisers we're never going to be in the position Apple was in. But by looking at new business models and combining them with new technology, we have a lot more potential for growth in the early phases of the lifecycle." Product lifecycleIn a bid to understand what it needed to do with each of its products, VNU looked at its offerings through the fi lter of proven product assessment matrices, such as the Boston Consulting Group Matrix, McKinsey Matrix and ADL Matrix (if you don't know them, you should do) and decided to manage each one accordingly. Crucially, VNU assessed which stage of product lifecycle each show was in: Introduction, growth, maturity or decline."We assigned project managers to those shows we decided were in a stage of maturity or decline. very product or service has a limited life. Some exist for decades as market leaders. Others, like cellphones or computers, might only manage a couple of months. Like any other product, exhibitions fi nd their feet in a market, then enter growth and climb to maturity before other events needle away at their market share and the show's profi ts decline. At this point an organiser is forced to readjust or consign the event to the annals of history. What is misunderstood, according to John van der Valk, MD of exhibitions and cross media at VNU Exhibitions Europe, is that the lifecycle of your exhibition can be prolonged. The offering can be improved, the life span extended through promotion and marketing. It often yields revenue streams that were not previously considered. "Let's take an extreme example," says van der Valk. "Apple was at only US$5bn in revenues in 2001. The company grew its revenues to $65bn in ARE WE DONE YET?