he Product Life Cycle (PLC) is a vital component of the marketing
plan. Monitoring products and services as they flow through this process
helps marketing managers adjust their marketing strategies to keep
products and services thriving for as long as possible. Monitoring this
cycle helps companies and organizations continue to maximize the value
of their products and services with their target over time. The purpose
of this assignment is to give students the opportunity to understand how
each stage in the PLC creates a need for adjustment to marketing
strategies and allows students to assess what action(s) need to be
taken.
Assignment Steps
Resources: Marketing: Ch. 1: pg. 4-10; Ch. 2: pg.40-46, 54-69; Ch. 11: pg. 292-309
Scenario: You currently work as the marketing manager of your favorite company/organization and manage the success of one of its products or services. Your responsibility is to monitor the stages of the Product Life Cycle (PLC) and adjust the marketing strategies as needed for your product to thrive for as long as possible. At each stage, you assess changes you need to make to the product, price strategy, as well as competition and profit.
Create a 10- to 20-slide (not counting cover slide or reference slide) Microsoft® PowerPoint®presentation with speaker’s notes covering the following criteria:
Cite a minimum of two peer-reviewed sources with one coming from the textbook or the University Library. Use in-text citations in the presentation slides and speaker’s notes to demonstrate your research.
Format your presentation consistent with APA guidelines.
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