Product Life cycle Assessment

For this assessment, consider that you work as a marketing analyst for a consulting firm. You were previously asked to develop an analysis white paper to be used for marketing purposes to showcase the firm’s consulting capabilities, and your manager and the firm’s marketing team was impressed with your work. As a result, your manager asked you to create another analysis white paper to also be used for marketing purposes, but focusing on a different dimension of the firm’s services

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.
Identify marketing tactics related to product that have the potential for real-world application at each stage of a product lifecycle.
Identify marketing tactics related to price that have the potential for real-world application at each stage of a product lifecycle.
Identify marketing tactics related to place that have the potential for real-world application at each stage of a product lifecycle.
Identify marketing tactics related to promotion that have the potential for real world application at each stage of a 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.
Required Resources
The following resources are required to complete the assessment.

Capella Resources
Click the links provided to view the following resources:

Product Lifecycle Worksheet.

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:

Assessment 4 Context.

Library Resources
The following e-books or articles from the Capella University Library are linked directly in this course.

Ruskin-Brown, I. (2006). Mastering marketing (2nd ed.). London, GBR: Thorogood Publishing.
McDonald, M., & Wilson, H. (2011). Marketing plans: How to prepare them, how to use them (7th ed.). Hoboken, NJ: Wiley.
Kermally, S. (2004). Gurus on marketing. London, GBR: Thorogood Publishing.
Course Library Guide
A Capella University library guide has been created specifically for your use in this course. You are encouraged to refer to the resources in the BUS-FP3030 – Fundamentals of Marketing and Sales Library Guide to help direct your research.

Internet 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.

Marketing Power, Inc. (2013). American Marketing Association. Retrieved from http://www.marketingpower.com/Pages/default.aspx
Hoover’s, Inc. (2013). Hoovers. Retrieved from http://www.hoovers.com
The Ad Age Group. (2014). AdvertisingAge. Retrieved from http://adage.com
Direct Marketing Association. (2013). DMA: Advancing and protecting responsible data-driven marketing. Retrieved from http://thedma.org
Concept Marketing Group Inc. (2013). Concept Marketing Group. Retrieved from http://www.marketingsource.com
Strategic Business Insights. (2013). Retrieved from http://www.strategicbusinessinsights.com
Strategic Business Insights. (2013). The VALS survey. Retrieved from http://www.strategicbusinessinsights.com/vals/presurvey.shtml
You are encouraged to complete the VALS Survey, then address the Questions to Consider.