{"id":179366,"date":"2018-08-09T06:51:00","date_gmt":"2018-08-09T11:51:00","guid":{"rendered":"https:\/\/www.ntegrait.com\/what-does-end-of-life-really-mean-this-important-question-answered\/"},"modified":"2018-08-09T06:51:00","modified_gmt":"2018-08-09T11:51:00","slug":"what-does-end-of-life-really-mean-this-important-question-answered","status":"publish","type":"post","link":"https:\/\/ntegrait.com\/what-does-end-of-life-really-mean-this-important-question-answered\/","title":{"rendered":"What Does End-Of-Life Really Mean? This Important Question \u2014 Answered!"},"content":{"rendered":"
<\/p>\n
The end of a product\u2019s lifecycle can mean trouble for companies that haven\u2019t prepared for the inevitable. If your organization uses certain products on a daily basis, you may find it difficult to keep up with the different dates revolving around these products\u2019 unique life cycles. But failing to do so can have negative consequences for your operations if you\u2019re not careful.<\/p>\n
Familiarizing yourself with the life cycle of a product can help you make wise decisions about your hardware needs. \u201cEnd of Life,\u201d \u201cEnd of Service Life,\u201d and \u201cEnd of Sale\u201d are just a few terms you may need to know in order to avoid an issue with coverage later down the line. Read on to learn more about some of the similarities and differences between these common product lifecycle terms.<\/p>\n
End Of Life Vs. End Of Sale: What Is The Difference? <\/strong><\/p>\n \u201cEnd of Life,\u201d or EOL, means that the vendor of a particular product has determined that the product has reached the end of its life or its \u201cuseful lifespan.\u201d For products in the EOL stage, the manufacturer will cease to market the product, and in most cases, will stop selling that particular product altogether. Past this date, it may become difficult to access support for the purchased product. In some cases, though, manufacturers may offer extended support, which can ensure you\u2019re covered in increments for a certain period of time.<\/p>\n EOS or \u201cend of sale,\u201d also known as EOA or \u201cend of availability,\u201d is another important term companies dealing with equipment contracts should know. This refers to the date after which a product is no longer available for purchase through its manufacturer. The impact of this can be significant if you haven\u2019t got a game plan. It\u2019s important to be prepared for if and when the product and subsequent support you need for these products, is no longer available. How heavily would something like this affect your everyday operations?<\/p>\n Luckily, there may be a bit of hope, even if a product has been deemed EOS. While not available through its manufacturer, you may still be able to obtain an EOS product from a third-party vendor.<\/p>\n EOSL, known as \u201cEnd of Service Life\u201d means that a particular manufacturer will cease to provide technical support for a product after a chosen date. Although you might still be able to access some kind of manufacturer support after this time, it will probably cost more.<\/p>\n The 4 Stages Of Product Life Cycles <\/strong><\/p>\n A product\u2019s life cycle \u2014 its birth to its demise \u2014 is divided into 4 stages. From the initial introduction stage to the decline stage of the life cycle, understanding this unique sequence will help you further grasp what to expect from your products and what their life cycles may mean for you and your organization.<\/p>\n Introduction Stage<\/a><\/strong>\u00a0<\/strong><\/p>\n The introduction stage of a product\u2019s cycle is often the most costly. Launching a new product can entail strong marketing efforts, which can include research and development stages and consumer testing. Things can become even costlier for products in highly competitive industries.<\/p>\n The Growth Stage<\/strong><\/p>\n The growth stage is an important one for a product, as the company finally begins to see the fruits of its labor. During the growth stage, sales show strong growth, profit margins increase, as does profit. Here, businesses are able to invest more funds into advertising, allowing the product to achieve maximum potential.<\/p>\n