Base on the attached document please answer the following question:
Describe the pace at which your product will move through the product life cycle and the factors that will impact its movement. How will the product life cycle impact the marketing of your selected product? We need to include the effect that the movement through the life cycle has on the four "p's".
The product is coffee ice cream and the movement through the introduction phase of the product life cycle will be fast it will be four months. The reason why the movement through the introduction stage will be fast is that competitors can easily make coffee ice cream themselves and will rush to introduce such an ice cream range to protect their market share. Before the introduction stage the product will be kept a secret by Starbucks so that the competitors do not come to know of the product launch. Considering the four Ps, the coffee ice cream will be undifferentiated, the prices of coffee ice cream will be high as Starbucks would like to skim the market and get high returns from early adaptors, the Place or distribution will be through some Starbucks outlets as the introduction is the starting of distribution. and the Promotion will be aimed at building brand awareness.
The movement through the growth stage will also be swift. The period is expected to be six months. The reason for it is that customers become aware of coffee ...
product life cycle is discussed in great detail in this solution.