Evaluate what techniques can beimplemented by the marketer to extend aproduct's lifeCan a product stay in the maturity phase foran extended period of time and what must besome of the key factors that can help it stay inthis phase?

Product life cycle management is a sequence of strategies for business management as the product…

Answered: Evaluate what techniques can be…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Similar questions

Please tell me how marketers screen ideas to find appropriate product ideas during product development. What does it mean that a product is a good “fit” for a company?
A mobile phone company is considering introducing a new phone. Outline the steps the company would take leading up to (and including) the introduction of the new phone to the market. What steps in the new product process would it use? What aspects of the consumer adoption process would be important?
When is a business most likely to adjust the marketing mix of a product? If costs change If customer needs change If management changes If Price changes
Explain the concept of New Product development process and how does a marketer use it for a successful product launch? Explain it with the help of how you can launch a product or service into the market following the steps
How will a company will market their product online when customers have so many other options and the competition is tougher than ever?
Will the new product cannibalize sales of existing products or will it increase revenues by reaching new market segments?
List and briefly describe 4 variables from the external marketing environment. Provide a brief description of how each of the variable that you list may be able to influence marketing decisions. For example, if you include "technology" as one of your variables from the external marketing environment, you could describe the manufacturing of micro chips that are in many of the products that people use daily, i.e., the camera in your vehicle that shows you what is behind you when you back up uses a micro chip. Many chips are manufactured internationally. Recently, Congress supported legislation that enhances production of micro chips here in the United States. Accessibility to micro chips, enhanced product features, such as rear view alerts for drivers, also enhances product development and innovation. All of the example impacts several aspects of marketing. Then, in your answer, you would list at least two aspects of marketing that can be impacted based on the information in the…
A product that a potential buyer knows about but is not actually seeing is called an "unsought" product. Do you feel that the continued marketing of unsought products is unethical? Also, discuss how marketing ethics figure into decisions on branding, packaging and labeling of products.
Discuss the social influences on consumers and provide an example of how one or more of these factors impacted a product or service purchase you made recently. Discuss the stages of the consumer-buyer decision process and describe how you or your family used this process to make a purchase.
Create your own brand. State what product/ service you want to sell in the market and why you think this product would be purchased by the consumers. Who are your rivals and What different do you have to offer to the consumers? Now, choose 2-3 elements from the brand elements mix and state the reason why you choose them and how those elements would work for your company. (For eg: if you are choosing a brand logo, create a logo for your brand, if choosing a brand name, create a name for your brand, etc.?

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Evaluate what techniques can be implemented by the marketer to extend a product's life Can a product stay in the maturity phase for an extended period of time and what must be some of the key factors that can help it stay in this phase?