PRODUCT LIFECYCLE

Assessment Instructions

Plan the tasks or tactics for a marketing mix (product, place, price, promotion) in various stages of the product lifecycle (introduction, growth, maturity, and decline).

Product Lifecycle Worksheet

Focus on one particular company in completing all of the sections of the worksheet.

• Use the Product Lifecycle Worksheet (linked in the Resources under the Required Resources heading).
• Complete all of the sections of the worksheet, identifying tasks or tactics for each aspect of the marketing mix at each stage of the product lifecycle.

Example

For the place aspect of the marketing mix for a product at REI, in the introduction phase of the product lifecycle, the product might be distributed on a limited basis, only to specific flagship stores. As the product moves to the decline phase of the product cycle, REI might choose to distribute the product in outlet stores.

Refer to the Product Lifecycle Worksheet for further examples.

Additional Requirements

• Written communication: Written communication is free of errors that detract from the overall message.
• APA formatting: Resources and citations are formatted according to current APA style and formatting.
• Font and font size: Times New Roman, 12 point.

Internet Resources

Access the following resources by clicking the links provided. Please note that URLs change frequently. Permissions for the following links have been either granted or deemed appropriate for educational use at the time of course publication.

• Marketing Power, Inc. (2013). American Marketing Association. Retrieved from http://www.marketingpower.com/Pages/default.aspx
• Hoover's, Inc. (2013). Hoovers. Retrieved from http://www.hoovers.com
• The Ad Age Group. (2014). AdvertisingAge. Retrieved from http://adage.com
• Direct Marketing Association. (2013). DMA: Advancing and protecting responsible data-driven marketing. Retrieved from http://thedma.org
• Concept Marketing Group Inc. (2013). Concept Marketing Group. Retrieved from http://www.marketingsource.com
• Strategic Business Insights. (2013). Retrieved from http://www.strategicbusinessinsights.com
• Strategic Business Insights. (2013). The VALS survey. Retrieved from http://www.strategicbusinessinsights.com/vals/presurvey.shtml
  • You are encouraged to complete the VALS Survey, then address the Questions to Consider.