To determine: The marketing strategies for the following companies in each stage of product life cycle.
Introduction:
A product life cycle defines the progress of a new product over a period of time. This concept includes four stages, namely introduction, growth, maturity, and decline.
Explanation of Solution
Company C is in its maturity stage: Company C should create demand to face its competitors at the maturity stage. For this, Company C could add additional features such as increase the level of megapixel, different lens sizes, and so on, to attract customers.
Company HP is in its growth stage: as Company HP is in its initial stage; it should create awareness for its brand by generating advertisements. Company HP should generate primary demand for the product among the customers.
Company HM is in its decline stage: Company HM, at this stage, should find the opportunities to enter new markets where there are not enough resources available.
Want to see more full solutions like this?
Chapter 11 Solutions
Loose Leaf for Marketing
- Embrace the position of being a product manager and your product is a cellphone. Then, create your own product life cycle plan using the seven phases. 1. Conceive 2. Plan 3. Develop 4. Qualify 5. Launch 6. Maximize 7. Retirearrow_forwardIn which stage of the product life-cycle would you place Mi Ola’s products? In this stage, would you expect Helena Fogarty to put more emphasis on developing new products, deleting existing products, or modifying existing products? Why?arrow_forwardGreen Fields Coffee Co. introduced its line of herbal coffees to the international market two years ago. They were well received and now foreign competitors are starting to appear. Which stage of the product life cycle theory is the company currently in? A. Stage 3 B. Stage 4 C. Stage 2 D. Stage 1arrow_forward
- In terms of product differentiation, why does Taco Bell test market its new products for months before deciding whether to introduce them in a wider area?arrow_forward1. How do hospitality products differ from product of other industries? Give at least five specific examples 2. What are the three perspective involves in making decision about creating or modifying a hospitality product? 3. In your own words how will differentiate blueprinting to value chain analysis? 4. Why do management need to analyze customer value and product life cycle? How do the two types differ? Discuss 5. What is the role of the hospitality product decision in the hospitality market offer?arrow_forwardWhat are the seven steps in the offering development process? What are the key activities in each step? Who are lead users? How should a company evaluate new ideas? What are the criteria? How does quality function deployment work?arrow_forward
- Four (4) reasons for new product failures and how a company can minimize these failures and increase the chance that the product will be successful.arrow_forwardProduct strategy, as part of the marketing mix, should be driven by consumer needs. Consumers make purchase decisions based on perceived benefits. Sometimes translating desired benefits to product design, features, and overall product strategy can be challenging for marketers. Define the word "product" as it relates to business, specifically marketing. Discuss specific real-world examples of products that have been successful and products that have been unsuccessful.arrow_forwardWhat product do you want to produce as a product manager? Outside of the intrinsic properties of the product, what else is involved in acustomer’s decision to choose the product? How do these augmented product elements add to or detract from theproduct? How can you influence this augmented product offering to better fit theproduct?arrow_forward
- Discuss the different phases product undergo, consider dell laptops as a case of discussionarrow_forwardWhere do ideas for new products come from?arrow_forwardDiscuss the following points for the Ebay Company: Describe the product line your specific product is in. How do you think the line should grow, and why? How does this play a role within the larger firm? Could a BCG or Ansoff’s matrix style analysis provide any insights?arrow_forward
- Principles Of MarketingMarketingISBN:9780134492513Author:Kotler, Philip, Armstrong, Gary (gary M.)Publisher:Pearson Higher Education,MarketingMarketingISBN:9781259924040Author:Roger A. Kerin, Steven W. HartleyPublisher:McGraw-Hill EducationFoundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
- Marketing: An Introduction (13th Edition)MarketingISBN:9780134149530Author:Gary Armstrong, Philip KotlerPublisher:PEARSONContemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning