Instructions:In Module 2, we learned that all products go through a Product Life Cycle, and that marketing decisions
Instructions:In Module 2, we learned that all products go through a Product Life Cycle, and that marketing decisions are influenced by which stage the product is in.
- Create a visual deliverable of your choice (infographic, PowerPoint, video, etc.) which communicates the information below.
- What is the Product Life Cycle? What value is this to marketers?
- Explain the four stages of the product life cycle.
- Describe how which stage of the product life cycle a product is in influences a firm's decisions relating to:
- Product
- Price
- Promotion
- Place (Distribution)
- Prepare a brief written document (less than a page) which reflects upon the product you discussed in Module 2 Assignment 1:
- Which stage of the product life cycle do you think your selected product is currently in? Explain why.
- How can marketers extend the life of their product beyond its current stage? What specifically should they consider doing when it comes to product, price, promotion, and place?
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