Product Lifecycle
This paper is about a product that I created called Athleishoes in paper I previously wrote (Paper attached) and the second paper attached you helped me further develop a competitive analysis and marketing mix for this same product.
Questions:
- Consider the four (4) stages of the product life cycle (introductory, growth, maturity and decline) and define your marketing objectives under each one of the four (4) stages
- Explain how you’ll utilize the marketing mix to create your marketing strategy under each one of the 4 stages of the product life cycle. Do not forget to consider the level of competition under each stage before you develop your strategy.
Instructions:
-Essay format (APA)
-3-5 pages, double spacing
-Font: Times New Roman
-At least 6 peer reviewed sources (include DOI in reference page)
-In text citations for each peer-reviewed source.
-No plagiarism
Answer previewProduct life cycle refers to the viability of a product from its development stage until it gets pulled from the market (Aytun & Kilicaslan, 2017). Generally, this process happens in four stages, introduction, growth, maturity, and decline. Different products have different longevity within the market due to various factors such as market saturation, elevated competition levels, or even a decline in product demand levels. Introduction is the first stage of the product life cycle, and it kicks in immediately after the manufacture of a product (Aytun & Kilicaslan, 2017). It covers the moment a product is first unveiled and sold within a particular market.
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