Describe the four stages of the product life cycle

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Assignment:

QUESTION 1:

Describe the four stages of the Product Life Cycle (Chp 9). Do it by:

List each stage of the product life cycle and within each of the stages from introduction to decline, mention at least 2 marketing issues and/or marketing strategies the company/product may experience during a specific stage or may want to consider implementing in response to the situation the product could be facing - Four stages with 2 marketing issues/strategies noted and explained for each of the four stages.

QUESTION 2:

1. Define the term channel of distribution.

2. List and describe at least four long-term effects or impacts of the Place/Distribution component that marketing managers must consider, due to the fact that Place decisions can have long-term effects.

(Note: see Lecture Notes and text, Chapter, Place Decisions are Guided by Ideal Place Objectives)

QESTION 3:

Describe the AIDA model. Do it by:

Listing and defining the three basic promotion objectives.

Stating each of the four steps in the AIDA model and say how it relates to the buying process and/or the promotion objectives for that stage.

(Note: see Lecture Notes and text, Chapter, Which Methods to Use Depends on Promotion Objectives)

QUESTION 4:

Why is price an important component of the marketing mix? Do it by:

Defining what 'price' is.
Listing at least 4 reasons, specific to price, describing why price is an extremely important component of the marketing mix. The price affects what in relation to the company? The price plays what role in relation to the customer? (See Chapter Lecture Notes, Price Has

Many Strategy Dimensions)

QUESTION 5:

With each of these media types: 1) Paid Media, 2) Owned media, and 3) Earned media.

Define the term
Give several examples of the kinds of messaging/promotion that are included in this media type
Explain who controls the messaging content
Give a positive and a negative aspect of this media type

Reference no: EM133319652

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