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Product life-cycle concept


the 5 th : The product life cycle’s bell-shaped curve is generally depicted as being divided into four stages. Characterize an organization’s strategies with respect to product, price, distribution, and promotion for a product in its maturity stage of the product life cycle. Use information found in the summary table on the product life cycle to construct your answer. Be sure to characterize each of the four strategic areas mentioned. Use the knowledge from chapter 10, 11, 12, 14, 17& 18 to answer this question. (Hint: Refer to table 10.5 from the textbook). Students can discuss this with the help of an example of product item from any organization. ________________________________________ 4th question : Identify the weaknesses of the product life-cycle concept that you should keep in mind as an aspiring marketing manager. (Hint: Refer to page 278 from the textbook). (Points : 20) ________________________________________ 3rd Assume you are a marketing manager that wishes pursue a process of strategic brand management. List the four main steps that you would most likely go through to accomplish this task. Use concepts from Chapter 9 to clearly explain your point. ________________________________________ 2nd question : The firm’s success depends not only on how well each element of the marketing mix (product, price, promotion and place) work, but also on how well the organization matches its internal environment to the external environment (macro-environmental forces) to conduct core business processes. Discuss the effects of macro-environmental forces on marketing strategies. Use concepts from chapter 2 and 3 to clearly explain your point. ________________________________________ 1st question : . Marketing has been described being both an “art” and a “science.” Discuss the differences and similarities between these two marketing thrusts. Provide your theoretical response and a “real-life” example where you have seen both processes work effectively at creating customer value and loyalty. Hint: (The student should demonstrate his or her understanding to explain how marketing helps in understanding customer’s needs and wants to convert into products/services). Use concepts from chapter 1 to clearly explain your point. (Points : 20)


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