MT3: The Product Life CycleActions for MT3: The Product Life Cycle
Describe the stages of the Product Life Cycle. Pick a product that is in its growth stage as described in Kotler-Keller.
Why have you put this product into this category? Describe the marketing approach for this product. What changes might you make in the
marketing strategy and why? What percentage of the advertising budget would you designate for this product and why?
Now pick a product that is in the maturity stage (hint: the discussion will be more interesting if both products are from the same
product category or produced by the same company).
Why have you put this product into this category? Describe the marketing approach for this product. What changes might you make in the
marketing strategy and why? What percentage of the advertising budget would you designate for this product and why?
Compare and contrast the marketing strategies used in each of the above examples.
MT4: Product Packaging
One element of the tangible product is packaging. Packaging serves a number of functions beyond the mere protection of the product. In
fact, with some brands, the package may play a central role in the growth of the brand. Discuss two products, one in which the package
plays a significant role and one in which it play a minor role. Discuss the potential role of packaging in innovation.
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