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**Please see and follow the attached grading guide closely.**
Purpose of Assignment
The Product Life Cycle (PLC) is a vital
component of the marketing plan. Monitoring products and services as
they flow through this process helps marketing managers adjust their
marketing strategies to keep products and services thriving for as long
as possible. Monitoring this cycle helps companies and organizations
continue to maximize the value of their products and services with their
target over time. The purpose of this assignment is to give students
the opportunity to understand how each stage in the PLC creates a need
for adjustment to marketing strategies and allows students to assess
what action(s) need to be taken.
Resources: Marketing: Ch. 1: pg. 4-10; Ch. 2: pg.40-46, 54-69; Ch. 11: pg. 292-309
Scenario: You currently work as
the marketing manager of your favorite company/organization and manage
the success of one of its products or services. Your responsibility is
to monitor the stages of the Product Life Cycle (PLC) and adjust the
marketing strategies as needed for your product to thrive for as long as
possible. At each stage, you assess changes you need to make to the
product, price strategy, as well as competition and profit.
Create a 10- to 20-slide (not counting cover slide or reference slide) Microsoft® PowerPoint® presentation with speaker’s notes covering the following criteria:
- Develop a slide setting the theme and goals of the presentation.
- Define and discuss the PLC concept and its importance to marketing managers.
- Define and discuss what role pricing strategy has in marketing and how marketing mangers decide what strategy to use.
- Describe what company/organization and product/service you are using.
- Create one slide for each of the four stages of the PLC describing
the stage and analyzes the implications each stage may have on price
strategy, product, competition, and profit for your selected
product/service. Use the product/service you selected to illustrate each
stage as it is discussed with original examples.
- Discuss the reasoning behind why the PLC is important to marketing
managers and share examples of possible implications if it is not
Cite a minimum of two sources. Use in-text
citations in the presentation slides and speaker’s notes to demonstrate
Format your presentation consistent with APA guidelines.