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Chapter 3 of the course text, Principles of Marketing

Chapter 3 of the course text, Principles of Marketing

Discussion 1

 

Prior to beginning work on this discussion forum,

Read

  • Week 2 Lecture
  • Chapter 3 of the course text, Principles of Marketing

Introduction, growth, maturity, and decline—every product has a life cycle story waiting to be told. In this interactive activity, you’re going to document the story of a product that has progressed through the four product life cycle stages.

Instructions:

If the instructions has a plus sign (+), click it to review tips and requirements for completing that section of the discussion prompt.

+Do a web search for dead brands or product fads. the following:

You can use this article, Blast from the past: Vintage Technologies That We No Longer Use for inspiration.

+Pick a service brand and use it as an example, explain how service differ from goods and discuss whether services go through a life cycle.

Be sure to discuss the product, place, price, and advertisement strategy for each phase of the life cycle you find.

You will see 4P’s strategies will differ with the shift of the product to another life cycle. Include your analysis of these differences.

Additionally, identify the key events that mark and end of each phase.

Discussion 2

Place Strategy [WLO: 2] [CLO: 4]

Read

  • Week 2 Lecture
  • Chapter 4 of the course text, Principles of Marketing

Watch

The goal of place strategy in terms of the customer value equation is to add value without increasing cost.

Retailers face three strategic issues that affect place strategy.

+Pick one of the strategic issues listed below:

Market Niche

Location

Merchandise Assortment

Explain at least three elements marketers need to consider when it comes to that strategy.

Explain how Burberry implemented innovative “place” strategies use to create value for current and potential customers.


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