1.Product Life Cycle
By having an understanding of the product life cycle, businesspeople can make savvy marketing choices. What is a popular item today that you’ve seen go through the Product Life Cycle? Explain the characteristics for each phase of the product’s life cycle. How can each phase of the life cycle impact the product’s brand? You must use the text and at least one other source.
Review several of your peers’ postings.Respond to at least two of your peers and provide recommendations to extend their thinking. Challenge your peers by asking a question that may cause them to reevaluate or add components to their thoughts on the Product Life Cycle.
Product Usage Categories
Q2.Visit Minimus.Biz (Follow link in REQUIRED materials), a company specializing in individually-sized products. Review the different product categories along the left navigation panel of the home page. How might these items be combined to create a usage group like a “convention survival package” or “campers’ kit”? Explain your reason for choosing as you did.
Which items, if purchased, might create complementary demand for another item in the line? Explain how it might accomplish this?
Which items might substitute for another? Why did you choose that substitute and how might it affect demand?
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