Description
- Select a product.
- Describe its current stage in the product life cycle.
- Discuss the marketing mix (four Ps) of a typical competitor's offering within this industry as well as its target market(s).
- Discuss the external forces affecting this industry: Competition, Innovation, Regulation, Economy and Social Trends.
Explanation & Answer
Attached.
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Running Head: THE TECH INDUSTRY
The Tech Industry
Apple IPhone Product Life Cycle
Name
Instructor
Institutional Affiliation
Date
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THE TECH INDUSTRY
Apple IPhone Product life Cycle
Current stage in the product life cycle
The Apple IPhone is now at its maturity stage in the product lifecycle. Usually at this
stage, the primary objective Apple Inc. is to defend its market share through coming up with high
level of innovation to make the product more attractive to the target market that its close
competitors. This is the reason the company has been coming up with other IPhone brands with
its latest brand being IPhone 7. It should be noted that during the early stage of the IPhone life
cycle, the company was able to hurl itself into superstar status (Kotler & Armstrong, 2010). This
has since been threatened by the emergence of other...