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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 so that it can thrive for as long as possible. At each stage, you assess changes in the target market, determine changes that you need to make to the product or price strategy, and review the competition and profitability.
Note: A product/service must be designated and not just the organization/brand/company. Organizations proceed through a different life cycle process than products.
Create a 10- to 15-slide (not counting cover slide or reference slide) Microsoft® PowerPoint®, Prezi, or Microsoft® Sway® presentation with speaker's notes that covers the following criteria:
Establish the purpose of the presentation and previews how your information will be conveyed.
Describe the PLC concept and explain its importance to marketing managers.
Provide examples of the possible implications if the PLC is not monitored.
Describe your selected company/organization/brand, the product/service you have chosen, define the target market for this product (demographics, psychographics and behavioristics) and briefly outline how this product/service is promoted to the selected target market.
Describe how brand equity can be used to create a positive customer image or positioning for your product/service.
Describe each stage of the PLC and present the implications that each stage may have on product, price, promotion and distribution strategy, the competition and profitability for your selected product/service.
Note: This assignment requires the student research their selected organization/company/brand and product/service and determine as best as possible the controllable marketing strategies currently implemented by the organization's product manager - strategies that may be modified as the product/service proceeds through the PLC.
Note: The auto-rubric will not be used for this assignment. A grading guide has been provided.
Spell and grammar check the assignment, assure intellectual property is recognized with in-text citations (APA format) and a list of references and click the Assignment Files tab to submit your assignment.
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 so that it can thrive for as long as possible.