Identify a product or service and identify its current stage in the product life cycle (Introduction, Growth, Maturation or Decline). Explain how you arrived at your conclusion regarding where this product/service lies on the PLC. Do any elements of the marketing mix provide clues regarding where this product/service is in its evolution?
Identify a product or service that has failed during the last ten years. Describe which element or elements of the marketing mix (product, price, place or promotion) you believe caused this failure. Could the product or service have been saved? If no, why not? If yes, how?
The response addresses the queries posted in 550 words with references.
//Before writing about the Analysis of Product Cycle, one should know about the different stages of Product life cycle. It is essential to have knowledge about the main concept of PLC, which further will assist in analyzing the PLC of a product.//
An Analysis of Product Cycle
Product life cycle of Coke (Coca Cola)
A sequence of stages of product from introduction to growth, maturity and decline that is associated with changes in marketing situation thus impacting the marketing strategies and the marketing mix is called the life cycle of a product (Kotler, 2002).
Maturity features of coca cola
? Coca cola has lowered its cost for its product coke and is now well established in market
? Financial reports of Coca Cola show increase in sales volume of coke.
? Coca cola has increased its competitive offerings to counter with the rivals in the market. ...
467 Words, APA Format