Product Life Cycle: From the Eyes of Fuzziness

Any product after being introduced in the market goes through its growth maturity and decline phases. In which the sales of the product first increases, attains a constant or nearly constant value and then starts declining respectively with respect to time. This paper uses fuzzy logic in all of the above mentioned phases of the product. Fuzzy logic was introduced by Professor Lotfali Askar Zadeh (born February 4, 1921), better known as Lotfi A. Zadeh, is a mathematician, electrical engineer, computer scientist, and a professor of computer science in the University of California, Berkeley. In broader senses it can be said that fuzzy logic is the branch of mathematics which deals with the cases in between happenings and non happenings. In other words fuzzy logic is the branch of mathematics which tries to find the logical output of input data in between “0” and “1” and including “0” and “1” too. Using fuzzy logic, computers can be made to operate including ‘0’ and ‘1’ and in between them also. Using fuzzy logic the important decisions regarding the product as at what time the product is to be lifted off from the market or when more volume of the product should be introduced to the market e.t.c. can be taken and that too with proper mathematical justifications. Thus fuzzy logic can be utilized inseparably in the introduction, growth and decline phases of a product.