The Product Life Cycle Part
Healthcare
Please respond to the following: “The Product Life Cycle Part”
- Assess the value of the product life cycle as a tool for product succession planning and related product management activities. Give your opinion on whether or not the Product Life Cycle can help health care managers in promoting portfolio planning, strategy formulation, and forecasting. Provide one (1) example to support your rationale.
- Select two (2) stages of the Product Life Cycle. Describe the methods for strategically and tactically managing products during each of the selected stages. Relate the selected stages to two (2) real-life examples of strategic or tactical initiatives within a health care organization.
Please respond to the following: “New Product Process”
- Create an argument in support of the assertion that the Product Life Cycle enhances marketing outcomes in the health care industry. Provide support for your argument.
- Suggest at least two (2) examples that support the notion of the limiting life span of health care products as a necessity in the ongoing and systematic product succession planning effort.
Answers only need to be 4-6 sentences long
Answer PreviewThis is the first stage of the product lifecycle and it is where the product is initially introduced into the market. The company may accept to incur high costs at this stage mainly because they want their products to be known in the market and hence they may have to sell at a low price so as to attract consumers. The company will sell the…
(638 Words)