Answered: Product Life Cycle Management is a very…

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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Product Life Cycle Management is a very important marketing concept and is used by Product Managers to effectively manage the product line. From the information below, craft a 4Ps Strategy for this product based on the life cycle position.

Please refer to the attached image for the product.

Transcribed Image Text:**Introduction to Paper Boat** Welcome to our introductory segment on Paper Boat, a brand dedicated to capturing and reliving classic memories through its diverse beverage offerings. Below is an image that showcases one of their products. #### Brand Logo and Product Image - **Brand Logo**: At the top, you will see the Paper Boat logo with the tagline "drinks and memories" set against a vibrant green background. - **Product Image**: Below the logo is an image of a Paper Boat beverage bottle, likely one of their fruit juice or flavored drink products. #### Volume Sales Trend Graph To the left of the product image, there is a graph indicating the trend of volume sales over time. The Y-axis represents "Volume Sales" while the X-axis marks the "Introduction" phase of the product lifecycle. A curve on this graph shows a gradual increase in sales volume, illustrating the growth and acceptance of Paper Boat products in the market. This visual representation suggests that the introduction of Paper Boat beverages has been met with positive consumer response, as indicated by the upward sales trend. This is a typical pattern seen in the early stages of a product's lifecycle.

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