4.3 Product Life Cycle

Each product goes through various stages (5) in its life cycle.

• 1. Development

  2. Introduction

  3. Growth

  4. Maturity

  5. Decline

During each stage the marketing mix changes.

Assignment:

PART 1

For each of the stages, describe the characteristics of each of the 4P's of marketing.

http://www.netmba.com/marketing/product/lifecycle/

PART 2

There are graphs that represent the Product Life Cycle.  The standard graph is near the top of  the website you used in Part 1.  The shapes of these graphs can tell a story of the type of product:  fads, trends, seasonal products, new and improved products, niche, etc. all have different shapes.  Try to draw the the each of the product types listed above.

Draw these graphs in Google docs and place them on your webpage.

( I have tried to search for these graphs on the web; they were not easy to find.  Try to think your way through these graphs.  I should be in before the end of the period to give you a push in the right direction as needed.)