Jayne Robinson was recently hired by the marketing department of Convenient Eats, a packaged goods company. The firm is currently beginning its strategic planning process and the CMO has asked each division to report on where in the product life cycle their division's products are. Jayne is tasked with Identifying the life cycle phase for the snack products division. She begins by analyzing year-on-year sales as well as time-on-the market data for each product. She also looks at Industry growth rates and market penetration rates (which measures what percent of the market is already purchasing and using this product). She then uses this data to determine whether each product is in its Introductory, growth, maturity. or decline phase of the product life cyle. The goal of this activity is to understand how different stages of a product's life cycle can impact a product's marketing mix and continued success for a firm. Answer the questions that follow based on the above case and the information provided in the tables below. A 1 2 3 4 5 6 7 8 9 10 11 12 13 Classification Components Year on Year Sales Growth Time on Market Industry Growth Rate Market Pentration Rates B Snack Products: Data Analysis Potato Chips 2% 10 years Introduction Growth Maturity Decline Multiple Choice Stage of Product Life Cycle What does the market penetration rate reveal to the marketing manager? the percentage of growth already achieved Snack Products: Product Life Cycle Analysis Potato Chips Pretzels how satisfied consumers are with the product what percentage of the market belongs to the firm 95% what percentage of the market the firm has lost equal percentage of market share X C Pretzels 5% 7 years 3% 80% X D Trail Mix 10% 3 years 18% 50% Trail Mix X
Jayne Robinson was recently hired by the marketing department of Convenient Eats, a packaged goods company. The firm is currently beginning its strategic planning process and the CMO has asked each division to report on where in the product life cycle their division's products are. Jayne is tasked with Identifying the life cycle phase for the snack products division. She begins by analyzing year-on-year sales as well as time-on-the market data for each product. She also looks at Industry growth rates and market penetration rates (which measures what percent of the market is already purchasing and using this product). She then uses this data to determine whether each product is in its Introductory, growth, maturity. or decline phase of the product life cyle. The goal of this activity is to understand how different stages of a product's life cycle can impact a product's marketing mix and continued success for a firm. Answer the questions that follow based on the above case and the information provided in the tables below. A 1 2 3 4 5 6 7 8 9 10 11 12 13 Classification Components Year on Year Sales Growth Time on Market Industry Growth Rate Market Pentration Rates B Snack Products: Data Analysis Potato Chips 2% 10 years Introduction Growth Maturity Decline Multiple Choice Stage of Product Life Cycle What does the market penetration rate reveal to the marketing manager? the percentage of growth already achieved Snack Products: Product Life Cycle Analysis Potato Chips Pretzels how satisfied consumers are with the product what percentage of the market belongs to the firm 95% what percentage of the market the firm has lost equal percentage of market share X C Pretzels 5% 7 years 3% 80% X D Trail Mix 10% 3 years 18% 50% Trail Mix X
Chapter14: Marketing Channels And Supply Chain Management
Section14.1: Taza Cultivates Channel Relationships With Chocolate
Problem 1VC
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Transcribed Image Text:Jayne Robinson was recently hired by the marketing department of Convenient Eats, a packaged goods company. The
firm is currently beginning its strategic planning process and the CMO has asked each division to report on where in the
product life cycle their division's products are. Jayne is tasked with Identifying the life cycle phase for the snack products
division. She begins by analyzing year-on-year sales as well as time-on-the market data for each product. She also looks
at Industry growth rates and market penetration rates (which measures what percent of the market is already purchasing
and using this product). She then uses this data to determine whether each product is in its Introductory, growth, maturity.
or decline phase of the product life cyle.
The goal of this activity is to understand how different stages of a product's life cycle can impact a product's marketing mix
and continued success for a firm.
Answer the questions that follow based on the above case and the information provided in the tables below.
A
1
2
3
о
4 Time on Market
1007
5
6
8
9
10
11
12
13
Classification Components
Year on Year Sales Growth
Industry Growth Rate
Market Pentration Rates
Introduction
B
Snack Products: Data Analysis
Potato Chips
2%
10 years
-1%
95%
Growth
Maturity
Decline
Multiple Choice
Stage of Product Life Cycle
What does the market penetration rate reveal to the marketing manager?
Snack Products: Product Life Cycle Analysis
Potato Chips
Pretzels
the percentage of growth already achieved
how satisfied consumers are with the product
what percentage of the market belongs to the firm
what percentage of the market the firm has lost
X
equal percentage of market share
C
Pretzels
5%
7 years
3%
80%
X
D
Trail Mix
10%
3 years
18%
50%
Trall Mix
X
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