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Technology Life Cycle

Technology Life Cycle (TLC) details and describes the stages of the technology currently

in development. TLC has 4 stages, research and development stage, ascent phase, maturity

phase and the decline phase. As the name implies, the research and development phase of the

technology is part of the birthing process. The beginning, so to speak. Depending on the type of

technology being developed, and the target market, extensive research would be required.

How will people react to it? How will it stack up against competitors? Cost of bringing it to

market and more. All questions that are a necessary part of the development and research

phase. Research and development is the startup phase of the technology. The capital, whether

funded directly or via investors, gathering the right amount of and important information

relating to the specific market, all begins here.

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TLC for Application

According to SPD LOAD, cost for application development varies, by complexity of the

app, with a price ranging from $40,000-300,000 simple to complex. Senior citizens are of a

population in which most of them are unable to keep up with the ever changing technology of

today. Creating a simple non-complex application that would aid them in finding things

misplaced or serve as a reminder for taking medication. A simple application linked with a

simple device they keep on their person to alert them of when it is time to perform a task.

Though, if the individual has a device capable of downloading applications, then this puts them

ahead of the game. The application can be added to their device with no hassle.

The app being a simple and practical one, would only need a small amount of time to be

developed. As stated on SPD LOAD, a simple app takes about 2-3 months. Seniors are the

number one consumers of healthcare dollars, resources, and medications, but over 55% of

them are not properly taking medications (medipense 2018). Why is this? Simply put, it is due

to their declining health and age. The app would aid in this specific task. Considering the time

that it takes to make develop the application, it would not be a long time for the app to hit the

market. Testing can be done in the final stages of the development in the last month before it

officially goes to market.

When it comes to the lives of seniors. Simplicity is key. Leading a simple life, that is the

same thing day in and day out. Incorporating something in such a simple way of life, is not a
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difficult thing, if it seamlessly fits and suits their lifestyle, then it would be welcomed. Marketing

these days have become a much more easier thing to perform, due to the popularity of social

media and more modernized technology. So, the cost of investing when it comes to marketing

can be streamlined into a small budget but would still allow for proper and efficient marketing

on and offline.

Acceptance Process

If a technology such as this were to go to market, I think acceptance of the application

would not be a difficult thing to achieve. The technology acceptance process can be broken

down into 5 different types, innovators, early adopters, early majority, late majority, and

laggards (digital adoption team 2022). Laggards are usually individuals who are not very

technology savvy, and or the elderly. Utilizing an app that is designed with that in mind, those

that are not very tech savvy would have no issues operating the application. There would be no

laggards when it comes to utilizing the application. With that, I believe this would create fast

foot traffic for the application, which would also translate to fast profit and return on the

money invested in the development of the product.

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References:

Bhasin, H. (2019, April 17). What is Technology Life Cycle? 4 Stages of Technology Life Cycle.

Marketing91. Retrieved August 28, 2022, from

https://www.marketing91.com/technology-life-cycle/

S. (2022, May 16). How Much Does It Cost to Develop an App in 2022? Cost Breakdown.

SpdLoad. Retrieved August 28, 2022, from https://spdload.com/blog/app-development-

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cost/#:%7E:text=Many%20factors%20influence%20the%20price,App%20Development

%20Cost%20%E2%80%93%20from%20%24300%2C000

T. (2018, May 9). Top 10 Reasons Seniors Do Not Take Their Medications. Medipense.

Retrieved August 28, 2022, from https://medipense.com/top-10-reasons-seniors-do-not-

take-their-medications/#:%7E:text=Seniors%20are%20the%20fastest%20growing,due

%20to%20medication%20non%2Dadherence.

Team, D. A. (2022, July 12). What Are The Four Stages Of The Technology Adoption Lifecycle?

Digital Adoption. Retrieved August 28, 2022, from

https://www.digital-adoption.com/technology-adoption-life-cycle/