Product Life cycle (Evaluate Task)

Evaluate Tasks Use the Product Life Cycle Worksheet to evaluate and plan the promotion tasks of a marketing manager in various stages of the product lifecycle. This can be applied to a specific company if you wish. Complete the worksheet (fill in the blanks in each section). Product Life Cycle Worksheet For each part of the marketing mix for REI, list several marketing tactics that would be used for each stage of the product life cycle. Several have been started as examples. Marketing Mix Introduction Growth Maturity Decline Product 1. 2. 1. New product features: colors, styles, accessories are added. 2. 1. 2. 1. 2. Place (Distribution) 1.Distribution may be limited to Flagship stores as a test. 2. 1. 2. 1. 2. 1. Distribution is mostly through the outlet stores. 2. Price 1. Prices start to lower due to competition. 2. 1. 2. 1.Clearance Pricing in effect. 2. Promotion 1. Goal of initial promotion is to tell consumers what the new product is and does. 2. 1. 2. 1. 2.