Product Life Cycle for a random consumer product (4 Ps)

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Business Finance

Description

Pick one of your favorite (or random) consumer products and walk through the stages of the Product Life Cycle in terms of the 4 Ps (Price, Product, Promotion, and Place), profits, and revenues. In other words, you are the marketing manager for this random product. Discuss what you would do, strategically, at each stage in terms of the 4 Ps and what one might expect in terms of profits and revenues.

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Explanation & Answer

Attached.

OUTLINE

Introduction
Body
Conclusion


Product Life Cycle
Name
Institution
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A product lifecycle is a descriptive and normative model of the life of a product in general.
However, individual products go through unique variations through their lifetime but the overall
cycle is a universal set of stages of the product lifetime. Therefore, variations in the number of
segments and time on a single segment are different for each product. Thus, some products may
have lower ...


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