TriStar is a consulting firm that specializes in product lifecycle management, meaning it helps companies track and analyze their products to ensure the highest levels of profit and exposure while reducing operating costs. It works with each client throughout the entire product process, from ideation through implementation, while also helping to improve existing practices and train employees on new procedures.
A product lifecylce refers to the actual life span of a product, beginning with the initial idea and ending with the introduction of a new product or model. TriStar helps companies at each stage of this process, offering comprehensive services to help the company determine the appropriate designs and structures for the product, both physical and digital, through experience within various industries as well as conducting in-depth research into the client's market. This allows TriStar to identify the needs of potential customers and complaints about competitor products to advise its clients on the best course of action.
TriStar also helps clients choose manufacturers or hire additional staff to manage the production of the product, develop strategies to promote it in the appropriate channels, and monitor its success to make necessary adjustments over time. TriStar creates regular reports for the client summarizing its findings during the entire process, including recommendations for new ventures or product possibilities. The client may then use this information to improve the product or create designs for a new version.