DISCUSSION 1
DISCUSSION BOARD UNIT 1
NAME
JUNE 22, 2019
MKT640
Analyse the appropriate marketing strategies to apply at each stage of the product life
cycle.
Product life cycle is a pattern that is seen in the acceptability and sales level of a product or
service offering of a company. In theoretical perspective any product follows a typical product
life cycle which is depicted as follows, however, in certain product categories like technology
products they might skip one or two stages and have a shorter life cycle (Kotler, 2012).
Studying, analysing and monitoring product life cycle is imperative for marketing professionals
as they need to calibrate the advertising and communication mix accordingly to the stage of PLC
(Day, 2002).
INTERPRET THE CHALLENGES A COMPANY FACES IN DEVELOPING
NEW PRODUCTS IN TODAY'S GLOBAL ECONOMY.
Business leaders are confronted by various problems on strategic, tactical and operational level
either due to changes in the global economy or the technological advancements precipitating the
changes in the business landscape. Successful and progressive leaders can predict or analyses the
changes in proactive manner and this is what differentiates them from conventional or average
, leaders (Ryan, 2013). In order to make a corporation grow, it is imperative to make sure that the
top line–up in the management has a high appetite for risk, uncertainty and changes that entail
them. They should be able to find most efficient and effective ways to imbibe these changes in
the workforce with least amount of resistance.
DISCUSSION 2
DISCUSSION BOARD UNIT 1
NAME
JUNE 22, 2015
MKT640
ANALYZE THE APPROPRIATE MARKETING STRATEGIES TO APPLY AT
EACH STAGE OF THE PRODUCT LIFE CYCLE.
This can be elucidated as follows:
1. Introduction stage: at this stage the awareness is lower and hence advertising intensity
and expense needs to be highest. This can be seen as an example that is followed by Apple for all
its launches. They spend a huge amount of money in creating euphoria for new launches. At this
time, they make sure that every aspect of the product builds up the atmosphere on the basis of
novelty and excitement rather than detailed description of features (Don, 2007).
2. Growth Stage: the advertising in this stage is aimed at letting the consumer know how it
is different and what are the personal and social benefits associated with it. This can be seen in
DISCUSSION BOARD UNIT 1
NAME
JUNE 22, 2019
MKT640
Analyse the appropriate marketing strategies to apply at each stage of the product life
cycle.
Product life cycle is a pattern that is seen in the acceptability and sales level of a product or
service offering of a company. In theoretical perspective any product follows a typical product
life cycle which is depicted as follows, however, in certain product categories like technology
products they might skip one or two stages and have a shorter life cycle (Kotler, 2012).
Studying, analysing and monitoring product life cycle is imperative for marketing professionals
as they need to calibrate the advertising and communication mix accordingly to the stage of PLC
(Day, 2002).
INTERPRET THE CHALLENGES A COMPANY FACES IN DEVELOPING
NEW PRODUCTS IN TODAY'S GLOBAL ECONOMY.
Business leaders are confronted by various problems on strategic, tactical and operational level
either due to changes in the global economy or the technological advancements precipitating the
changes in the business landscape. Successful and progressive leaders can predict or analyses the
changes in proactive manner and this is what differentiates them from conventional or average
, leaders (Ryan, 2013). In order to make a corporation grow, it is imperative to make sure that the
top line–up in the management has a high appetite for risk, uncertainty and changes that entail
them. They should be able to find most efficient and effective ways to imbibe these changes in
the workforce with least amount of resistance.
DISCUSSION 2
DISCUSSION BOARD UNIT 1
NAME
JUNE 22, 2015
MKT640
ANALYZE THE APPROPRIATE MARKETING STRATEGIES TO APPLY AT
EACH STAGE OF THE PRODUCT LIFE CYCLE.
This can be elucidated as follows:
1. Introduction stage: at this stage the awareness is lower and hence advertising intensity
and expense needs to be highest. This can be seen as an example that is followed by Apple for all
its launches. They spend a huge amount of money in creating euphoria for new launches. At this
time, they make sure that every aspect of the product builds up the atmosphere on the basis of
novelty and excitement rather than detailed description of features (Don, 2007).
2. Growth Stage: the advertising in this stage is aimed at letting the consumer know how it
is different and what are the personal and social benefits associated with it. This can be seen in
