October 18, 2025 Claire B 0 Comments

Description

Please type the paper in 12 font, Times new roman and a minimum of 2 full pages. Please be as detailed as possible. Please include at least 2 creditable references and please list in APA format free of errors and extra word fillers. Please include page numbers at the bottoms of each page ONLY not the top.

Please center headings and for each indent use 6 spaces instead of a tab.

Please let me know if you have any questions.

Please see below for more detailed instructions on requirements etc.

The assessment instructions is a guide for the paper and please answer each bullet in the paper from the assessment portion of the instructions.

Plan the tasks or tactics for a marketing mix in various stages of the product lifecycle, using a provided worksheet.

The task of managing a given product at any stage of that lifecycle is significant and offers multiple opportunities for success or failure.

Competency 4: Apply effective marketing planning and implementation.By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

    • Identify marketing tactics related to product, at each stage of a product lifecycle.
    • Identify marketing tactics related to price, at each stage of a product lifecycle.
    • Identify marketing tactics related to place, at each stage of a product lifecycle.
    • Identify marketing tactics related to promotion, at each stage of a product lifecycle.

    Context

    Product Lifecycles

    Most of us think of primary marketing efforts as being focused on the introduction of new products. In reality, all products undergo a lifecycle: introduction, growth, maturity, and decline. The task of managing a given product at any stage of that lifecycle is significant and offers multiple opportunities for success or failure. A large number of new products fail at launch (introduction), while many go on to live long market lives.

    The Assessment 4 Context document contains important information related to the following topics:

    • Product Lifecycle.
      • Introduction.
      • Growth.
      • Maturity.
      • Decline.
    • Market Segmentation

    Questions to Consider

    To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community.

    • Consider your favorite products and what lifecycle stages they are in. How do you think this affects the kind of marketing activities that the companies are using for these products?
    • For the following question, refer to the VALS Survey from the Strategic Business Insights Web site, linked in the Resources. Take the survey. What did you learn about your own preferences from this exercise? Do you think the survey was accurate?

    Required Resources

    The following resources are required to complete the assessment.

    Capella Resources

    Click the links provided to view the following resources:

    Suggested Resources

    The following optional resources are provided to support you in completing the assessment or to provide a helpful context. For additional resources, refer to the Research Resources and Supplemental Resources in the left navigation menu of your courseroom.

    Capella Resources

    Click the links provided to view the following resources:

    Access the following resources by clicking the links provided. Please note that URLs change frequently. Permissions for the following links have been either granted or deemed appropriate for educational use at the time of course publication.

    Assessment Instructions

    Plan the tasks or tactics for a marketing mix (product, place, price, promotion) in various stages of the product lifecycle (introduction, growth, maturity, and decline).

    Product Lifecycle Worksheet

    Focus on one particular company in completing all of the sections of the worksheet.

    • Use the Product Lifecycle Worksheet (linked in the Resources under the Required Resources heading).
    • Complete all of the sections of the worksheet, identifying tasks or tactics for each aspect of the marketing mix at each stage of the product lifecycle.

    Example

    For the place aspect of the marketing mix for a product at REI, in the introduction phase of the product lifecycle, the product might be distributed on a limited basis, only to specific flagship stores. As the product moves to the decline phase of the product cycle, REI might choose to distribute the product in outlet stores.Refer to the Product Lifecycle Worksheet for further examples.

    Additional Requirements

    • Written communication: Written communication is free of errors that detract from the overall message.
    • APA formatting: Resources and citations are formatted according to current APA style and formatting.
    • Font and font size: Times New Roman, 12 point.
Assessment 4 Context
Product Lifecycle
The length of the lifecycle will vary from market to market.
Jell-O is an excellent example of a mature product that has survived many years. When it was
nearly discontinued many years ago, a new promotional campaign was introduced that
boosted it back to prominence. Jell-O used “there’s always room for Jell-O” as well as “watch
it wiggle” messages to reposition what was a dying product. Since then, Jell-O has expanded
its product premise (with products such as Pudding Pops) to reinforce the total brand
successfully. The Jell-O corporation also identified market segments (kids, desserts, snacks,
and so forth) that could be successfully targeted while reaching for further market
development and sales growth.
“Just as biological cycles progress from birth through growth and decline, so do
product life cycles…a product has four major stages: introduction, growth, maturity,
and decline” (Pride & Ferrell, 2000).
The tasks of a marketer differ in each of the phases of a product or service lifecycle.

Introduction: In the introductory stage of the lifecycle, sales and profits are zero, and
the marketing challenge is to bring the product to market by arranging for distribution,
initial promotion, consumer awareness, and positioning.

Growth: The growth state of the cycle is often marked by the rapid increase of sales
and profits, the appearance of competition, and pressure to lower prices and add new
product features.

Maturity: Maturity sees the leveling of demand for a product, declines in profits and
pricing, lower promotional costs, expansion into less profitable markets, and the exit of
some competitors from the market.

Decline: During a product’s declining phase, sales fall rapidly, and the product may be
discontinued or relegated to a small niche within a company’s offerings. Promotional
spending is generally very low on a product in this stage, and clearance pricing is often
evident.
These are general trends for each lifecycle
stage. For each product, service, or even
brand, the conditions, as will the length of
the cycle, may vary. A product lifecycle
may be as short as a few months (a fad) or
it may last well over 100 years (Coke,
Pepsi, and Levi’s). New products with
better materials, better technology, or
different fashions may force a product into
early retirement.
The Product Lifecycle image shows the
cycle in terms of sales and profitability.
When a product is successfully introduced
into a market (or, sometimes, creates a
new market), it generates a rapid increase
in sales, ramping up in the introduction
BUS-FP3030 Assessment 4 Context
1
Assessment 4 Context
stage. As the market matures, sales decline and profits slow or dwindle. The profit curve
grows much more slowly than the sales curve, and begins the decline faster than sales.
Market Segmentation
“A market segment consists of individuals, groups, or organizations with one or more similar
characteristics that cause them to have relatively similar product needs” (Pride & Ferrell,
2000). Market segmentation is the division of markets into logical pieces. This is a primary
task of the marketer within the organization. Markets can be divided into consumer markets
(users who plan on consuming or benefiting directly from a product purchase) and
organizational or business-to-business markets, where products are typically bought for use in
making other products or for institutional use.
Consumer market segments are profiled in a variety of ways, according to variables such as
demographics, psychographics, geography, and behavior. If you conduct an Internet search
for “consumer market profile example” or “target market profile example,” you will find that a
broad range of variables are used to define a market segment, often depending on the type of
product or service involved.
Reference
Pride, W., & Ferrell, O. (2000). Marketing: Concepts and strategies. New York, NY:
Houghton/Mifflin.
BUS-FP3030 Assessment 4 Context
2
Product Lifecycle Worksheet
For each part of the marketing mix, list several marketing tactics that would be used for each
stage of the product lifecycle. (Several have been started as examples.)
Marketing Mix
Product
Introduction
1.
2.
Growth
Example: New
product
features:
colors, styles,
accessories are
added.
Maturity
Decline
1.
1.
2.
2.
1.
Example:
Distribution is
mostly through
the outlet
stores.
1.
2.
Place
(Distribution)
Price
Example:
1.
Distribution
2.
may be limited
to flagship
stores as a test.
2.
1.
1.
2.
2.
1.
2.
Example:
Prices start to
lower due to
competition.
1.
2.
Example:
Clearance
pricing in effect.
1.
1.
2.
2.
Promotion
Example: Goal
of initial
promotion is to
tell consumers
what the new
product is and
does.
1.
1.
1.
2.
2.
2.
1.
2.
1

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