Product Life Cycle Application
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1. 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?
2.Select a product or service. Then select three different organizations that provide your selected product or service and compare the prices associated with your selected product or service. What is the difference between the prices among the different organizations? What is the rationale for this difference?
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Solution Summary
The solution discusses the life cycle of a specific brand of mountain bike. It makes recommendations on the types of changes the organization may need to make, during the different stages of the life cycle, for the product to compete.
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1.
The mountain bike is a product that is nearing the end of the growth stage and entering the maturity stage of the product life cycle. In the introductory stage, many people were curious about the product, though many waited to see how their friends liked it before making a purchase. In the growth stage, many new brands were introduced and a demand for the product was enhanced by the development of new sports and outdoor activities involving the mountain bike. There are currently mountain bike competitive events and trails around the U.S. have been revitalized, due to the increase in popularity of riding the mountain bike.
However, by now, anyone who wanted to purchase such a product already has and the item is not one that is quickly replaced. During the maturity stage, distribution becomes more intensive (quickmba. com). Nearly every retail store that carries bicycles carries a few options in mountain bikes. Bike shops often carry several brands and models. As the product reaches the decline stage, the demand for the product will decrease, although there will be younger users who will be ...
Education
- MEd, Jones International University
- BSc, DeVry University
- MPH, Walden University
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