Product life cycle
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Select a product with which you are familiar. What stage is your selected product at in the product life cycle? Provide rationale for your answer. Based on your knowledge of the product life cycle, what types of changes will occur to your selected product as it continues through the product life cycle? How will this affect the marketing of your selected product?
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Solution Summary
This solution is comprised of detailed explanation of the product life cycle and changes occur to the designated product through the product life cycle. It also includes explanation on how product life cycle affects the marketing of the selected product.
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The selected product is mucinex. Mucinex loosens the mucus that causes chest and nasal congestion. This product is in the introduction period in its life cycle. This is because mucinex has just started as a new business and there aren't a lot of people buying it. People get accustomed to using product such as NyQuil to fight the coldness such as nasal congestion and they are not feeling safe to use mucinex as it is a new product. Not only that, but because mucinex is a medicine product, ...
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