Question

Help Relating the Product Life Cycle to Marketing Mix Actions This activity is important because products, like people, have a life cycle. The product life cycle describes the stages a new product goes through in the marketplace: Introduction, growth, maturity, and decline. The introduction stage of the product life cycle occurs when a product is introduced to its intended target market. The growth stage of the product life cycle is characterized by rapid increases in sales. The maturity stage is characterized by a slowing of total industry sales or product class revenue. The decline stage occurs when sales drop. The goal of this activity is to demonstrate your understanding of how the marketing mix can be utilized throughout a product's life cycle. Roll your cursor over the items to read the statements. Drag and drop each item into the correct stage of the product life cycle within the chart. Coke Stage of the product life cycle Growth Maturity Introduction Decline Sony < Prey 3 of 17 Next >

Answer 1

Coke -> Maturity stage

(Coke has reached the maturity stage of soft drink market. By introducing or tweaking products the objective is to maintain market share while growth had slowed down)

Apple -> Growth stage

(Apple introducing new iPhone to drive sales in the Growth stage of the business)

Sony -> Decline Stage

(Introduction of digital music has led to the decline of Walkman cassette players)

Canon -> Introduction Stage

(Canon introducing new micro portable video recording device is still in the introduction stage where the objective is to apply price skimming strategy to recover initial costs)

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