Product Life Cycle

Anonymous

Question Description

Refer back to the brand chosen for the first assignment - Coca Cola.

Identify where the brand is in the product/brand life cycle (introduction, growth, maturity, decline) and support your position with specific examples and research.

Create a 700- to 1,050-word marketing strategy based on this position in the life-cycle:

  • Identify appropriate marketing tools
  • Assess challenges and opportunities as they relate to its niche, competition, and position in life cycle

Cite all sources according to APA formatting guidelines.

Tutor Answer

CristinaP
School: UIUC

Attached.

Running head: PRODUCT LIFECYCLE

1

Coca-Cola Product Lifecycle
Student’s name
Institution
Date

PRODUCT LIFECYCLE

2
Introduction

According to Andrew (2011), a product lifecycle is a description of the stages which a
product undergoes from when it is introduced in the market to when it is removed. Introduced in
the 1950’s, the concept of product cycle explains how a given product evolves in the market
from when it is introduced to when it becomes absolute. As a theory in marketing, product cycle
is used to maximize product value, demand, and profitability in each stage. In this paper, we
shall analyze the current position of Coca-Cola in on the product lifecycle and identify
appropriate marketing tools the brand can use to increase sales. We shall also assess challenges
and opportunities as they relate to its niche, competition, and position in the lifecycle.
The Product Cycle
The product life cycle is divided into four stages which are introduction, growth,
maturity, and decline. Also referred to as market development, the introduction stage begins
when a specific product is introduced in the market and is yet to become fully known to the
consumers (Andrew, 2011). In this stage, the product is yet to be approved by the potential
customers and is characterized by low demand and sales. Depending on the marketing initiatives
put in place, the introduction stage can last between a few weeks to years (Andrew, 2011). The
next stage of the ...

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