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 WorksheetFocus on one particular company in completing all of the sections of the attached worksheet.Use the Product Lifecycle Worksheet that is attached.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.ExampleFor 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.Product Lifecycle Worksheet
For each part of the marketing mix, list several marketing tactics that would be used for each
stage of the product lifecycle. (Several have been started as examples.)
Marketing Mix
Product
Introduction
1.
2.
Growth
Example: New
product
features:
colors, styles,
accessories are
added.
Maturity
Decline
1.
1.
2.
2.
1.
Example:
Distribution is
mostly through
the outlet
stores.
1.
2.
Place
(Distribution)
Price
Example:
1.
Distribution
2.
may be limited
to flagship
stores as a test.
2.
1.
1.
2.
2.
1.
2.
Example:
Prices start to
lower due to
competition.
1.
2.
Example:
Clearance
pricing in effect.
1.
1.
2.
2.
Promotion
Example: Goal
of initial
promotion is to
tell consumers
what the new
product is and
does.
1.
2.
1.
1.
1.
2.
2.
2.
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