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As a marketer, why is it necessary to consider product life cycle management
and align it to your company’s strategy
Step by step
Solved in 2 steps
- An effective marketing plan is critical to the success of product and/or service. What are the key components of an effective marketing plan?Marketing strategies vary at different stages of the product life cycle. Determine which stage of the product life cycle your organization’s product is in. What market characteristics lead to your determination? Explain. What recommendations should the organization consider based on your analysis?What is the purpose of a marketing plan for a company or a product/service? What do you think about each step of the marketing plan? Select one of the steps of the marketing plan and provide your explanation.
- How are you going to raise awareness of your products within your target market efficiently?Please share your thoughts and your understanding about the role of the Product life cycle model in Marketing Management? Kindly use your own words. Thank yousummary of the different phases involved in Product Development and Management and highlight how market segmentation may support this process.
- How can marketers extend the life cycle of an established product? Use examples to explain or illustrateTo understand customer needs and offer customers a complete experience, the marketer needs to address a few product levels for its product offerings. Define FIVE (5) product levels and apply the product levels to explain about CoverGirl cosmetics.Marketing mix(toothpaste) choose a product that you have purchased recently. Research and investigate this product on the Internet and in the marketplace. Evaluate the marketing mix (product strategy, pricing strategy, distribution strategy, and promotion strategy) used by the manufacturer of this product. At a minimum, consider the following questions in your investigation: Product Strategy : * In what category of consumer products (convenience, shopping, or specialty) does this product fall? Why? * At what stage is this product in the product life cycle (introductory, growth, maturity, decline)? Why? * What role, if any, did branding (brand name, symbol, slogan, etc.) play in your selection of this product? Why? * What role, if any, did packaging play in your selection of this product? Why? * Evaluate the quality of the product in terms of quality level and product consistency. Promotion Strategy : * Identify the various media used to promote/advertise the product. * Did other…
- what are the ways through which companies can ensure that their marketing mix supports the development and delivery of a consistent brand experience for their customers?How relevant is the traditional marketing mix theory, when deploying your business over the Internet.On your own or with a partner, choose one of the following consumer products and think about how it could be used as a business product. Then create a business advertisement for your product. a. lawn care products b. microwave oven c. tennis balls d. bottled water e. smartphone f. vacuum cleaner