Explain product mix and product life cycle

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Product Mix and Product Life Cycle

For the last twenty years, your firm has been producing a simple health drink called NutriA. It is aimed at health-conscious adults aged between twenty-one and forty-four years. NutriA is in the mature stage of the category's life cycle; as a result, industry sales are flat. Your marketing manager decides that it is time to expand the depth of the product line and increase market share. He wants you to come up with a new health drink aimed at a younger market, the fifteen- to twenty-one-year-olds.

Explain the new product. Would you keep that same brand name or use a new one? Why? Would it be similar to or different from the existing drink? Why? If it would be different, explain how.

Reference no: EM1357092

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