Please help so that I can complete the following assignment:
? Analyze how a company has managed each stage of the product life cycle of the popular MP3 player. Determine which stage of the life cycle the product is in currently.
Defend why you feel the product is in the stage you identified.
? You should include the following elements:
o A brief description of the product's objectives and marketing strategies
o An analysis of the Introduction phase of the product
o An overview of how the company has managed or should manage the product through the Growth stage
o A review of how the Maturity stage has impacted or will impact on the product sales, profits, pricing, and marketing communication
o A prediction of the product's decline in the marketplace
? Summarize by answering the following questions: Do you agree or disagree with how each stage has been managed? What alternative approaches to life cycle management would you suggest?
The response addresses the queries posted in 1112 words with references.
// Product Life Cycle describes the life of a product in market. To understand this concept we have taken here a case of Product Life Cycle of MP3 Player. We would here tell how the product is introduced and in what stage it is in. So, firstly we'll select a MP3 player of a company. I have taken here the example of Sony's MP3 Players. We'll first give a brief description of the product in order to introduce the topic. Like this://
Product Life Cycle of MP3 Players
Sony is one of the world's largest leading manufacturers of consumer electronics. The MP3 players have nowadays become the preferred portable music players replacing the Discman and Walkmans. MP3 players of Sony are smartly designed and possess large storage capacities. The most popular range of Sony's MP3 players is 'NW'. The key objective of the company behind introducing these players is to utilize the consumer's needs for earning revenues for the company. They aim at making the travels of the consumers more enjoyable and pleasant. For fulfilling all these needs, the company is providing quality products with huge storage capacity and good battery backup. The products of Sony are valued high in the minds of the customers because of its superior technology, quality and durability. The MP3 players of Sony are offered at its many outlets spread around the world. They are also made available at online shopping sites and consumer electronic shops. The company has made these MP3 players available in the market in competition with its most popular product "Walkman" (The Sony MP3 Player Battles the Apple iPod, 2008).
// Above, the product description has been done. Now proceeding ...
859 Words, APA Format