Business Essentials (12th Edition) (What's New in Intro to Business)
12th Edition
ISBN: 9780134728391
Author: Ronald J. Ebert, Ricky W. Griffin
Publisher: PEARSON
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Question
Chapter 12, Problem 12.5QA
Summary Introduction
To explain: The four stages of the product lifecycle and the marketing mix used in each with examples.
Introduction:
Product life cycle:
A newly developed product will go through a sequence of stages in its life. The phases of the product life cycle are:
- Introduction
- Growth
- Maturity
- Decline
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Chapter 12 Solutions
Business Essentials (12th Edition) (What's New in Intro to Business)
Ch. 12 - Prob. 12.1QRCh. 12 - Prob. 12.2QRCh. 12 - Prob. 12.3QRCh. 12 - How is the concept of the value package useful in...Ch. 12 - Prob. 12.5QACh. 12 - Prob. 12.6QACh. 12 - Prob. 12.7QACh. 12 - Prob. 12.8QACh. 12 - Prob. 12.9AECh. 12 - Prob. 12.10AE
Ch. 12 - Prob. 12.11ACh. 12 - Prob. 12.12ACh. 12 - Prob. 12.13ACh. 12 - Prob. 12.14ACh. 12 - Prob. 12.15ACh. 12 - Prob. 12.16TECh. 12 - Prob. 12.17TECh. 12 - Prob. 12.18TECh. 12 - Prob. 12.19TECh. 12 - Prob. 12.20TECh. 12 - Prob. 12.21EECh. 12 - Prob. 12.22EECh. 12 - Prob. 12.23EECh. 12 - Prob. 12.24EECh. 12 - Prob. 12.25CCh. 12 - Prob. 12.26CCh. 12 - Prob. 12.27CCh. 12 - Prob. 12.28CCh. 12 - Prob. 12.29CCh. 12 - Prob. 12.30CCh. 12 - Prob. 12.31CCh. 12 - Prob. 12.32CCh. 12 - Prob. 12.33C
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- Select 4 products in various stages of the product life cycle. Note what stage of the life cycle that they are in and why you believe that they are in this stage. What are some marketing strategies that could be used to extend the product life cycle for that product or category?arrow_forwardThink about a specific brand that you use and discuss the following: Identify the branded product and discuss the brands value proposition. Describe the brand’s current marketing mix (product, place, price and promotion) How well does the marketing mix reflect, deliver and communicate the brand’s value proposition? What changes would you recommend to improve the marketing mix and why?arrow_forwardConsider the product line offered by your local McDonald's franchise. Discuss examples of product width, length, depth and consistency offered by this company and what the company may consider in defining its product mix.arrow_forward
- Describe the stages of the product life cycle and the marketing strategies associated with each stage.arrow_forwardDiscuss the unique marketing characteristics a product or service requires based on the specific phase of the product life cycle.arrow_forwardsummary of the different phases involved in Product Development and Management and highlight how market segmentation may support this process.arrow_forward
- Changes at each stage of the Product Life Cycle (PLC) greatly affect the implementation of the marketing mix strategy of a product or service. Discuss each marketing mix strategy in relation to the changes in each stage of PLC.arrow_forwardExplain how product life-cycle strategies are summarised?arrow_forwardexplain the meaning of the following stages of Product Life Cycle. Product Development Stage Introduction Stage Growth Stage Maturity Stagearrow_forward
- Refer to the section on the Product Life Cycle. For each of the four stages of the Product Life Cycle, identify a product in the market that you think may be in that stage right now. Explain your reasoning for each product stage.arrow_forwardChoose a brand of your choice and discuss its brand architecture strategy.arrow_forwardDescribe the different stages of product life cycle. Please identify a product of your choice and mention at what stage the product is. Also, advice what steps needs to be taken so that the product can become more attractive to the customers.arrow_forward
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