29 Jun Webster BUSN 5620 – The Product Life Cycle represents the stages
Question
The Product Life Cycle represents the stages products go through from beginning to end.
For this week’s discussion pick a brand, product, business, or organization and discuss its life cycle by answering these two question prompts.
Identify and describe the stage of the life cycle the brand, product, business or organization is in? Do this by giving a few sentences into the history of the brand, if this is needed, and then tell us about the current life cycle stage (i.e., the things that lead you to define this as the stage). Make sure to give specific evidence, discussion, and /or examples to back up your thoughts on the life cycle of the brand/product (saying ‘sales are down,’ needs specific figures such as down by what % from what time period, some evidence that backs up and brings out your assertion). Tie your discussion of the life cycle to the marketing concepts: i.e., sales/market share or number of users of the product/service are growing or declining, competitors are entering the market, promotion is focused on building awareness, the product itself – has new features, changed packaging, or new distribution channels. Select something to discuss that is still in existence and not a complete obvious brand (i.e., we all know the life cycle of cassette tapes and CD’s and that the iPod is declining and sales are way down).
Tell us what marketing strategies the brand is now employing (or should employ) or marketing challenges the brand is facing and will need to deal with in order to keep the brand successful or to make the brand successful again.
You can pick a brand, product, business, or organization that is at introduction, growth stage, maturity, or decline. It can be a well-known brand, your marketing plan idea, or anything in between.
Expectations: ensure you have accuracy, organization, and clarity so we can all learn from your ideas on the product life cycle and marketing strategies.ORGANIZE YOUR POST SO IT IS EASY FOR THE READERS TO FOLLOW. PROOFREAD YOUR POST TO REVISE FOR CLARITY and TYPOS. State the question first in bold font, then your response. Do not repeat a specific example discussed in the text.
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