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    Fundamentals of Marketing - Branded Product

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    Think about a branded product (e.g., Ivory soap, Crayola crayons, Chiquita bananas). Research the brand and analyze how the company has managed the brand's product life cycle (PLC) over the years.

    Do you think that the product described by other students will be successful long term? Explain why or why not.

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    STEP 1

    The product life cycle offers a description of the different stages a product goes through. This is managed by companies over a period of time. The stages are new product development stage, market introduction stage, growth stage, maturity stage and decline stage.

    Product life cycle offers a model for the managers to understand and the main features of these stages may be the one affecting their products. The product life cycle however is not something that is given to the manager. It is something that he controls through his actions. The PLC provides a description and is dependent on the market actions of the manager.
    How does the manager control his market actions? If he wants his actions to cause a major growth in the sales, he often uses a different marketing strategy to reposition his brand and get the advantages of the growth stage. It is as if he starts off another life cycle.

    We consider the brand Ivory soap and the stages through which it has gone through.

    STEP 2

    The material about Ivory soap has been taken from the website: http://www.ivory.com

    In 1879 Ivory was developed and launched by James N. Gamble as a pure white soap. The positioning at that time was ...

    Solution Summary

    The brand Ivory soap is used in this solution to discuss the product life cycle, as well as suggestions as to answers for the success of products and elements needed for success. 842 words.