User Account

All Pages

Explain the vital component of the marketing plan

Assignment Help Marketing Management
Reference no: EM131897989

Question: 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.

Assignment Steps

Resources: Marketing: Ch. 1: pg. 4-10; Ch. 2: pg.40-46, 54-69; Ch. 11: pg. 292-309

Chapter 1: Creating Customer Relationships and Value through Marketing

Chapter 2: Developing Successful Organizational and Marketing Strategies

Chapter 11: Managing Successful Products, Services, and Brands

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 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.

• Describewhat 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 monitored.

Cite a minimum of two peer-reviewed sources with one coming from the textbook or the University Library. Use in-text citations in the presentation slides and speaker's notes to demonstrate your research.

Format your presentation consistent with APA guidelines.

Reference no: EM131897989

Questions Cloud

Describe a selling scenario using the funnel : Select a B2B product and describe a selling scenario using the funnel. Identify the likely selling work you might perform at each level of the funnel.
Dividend pricing model to evaluate bank of america : An analyst is trying to use a dividend pricing model to evaluate Bank of America (BOA).
Cumulative distribution function of the uniform : ?Here is the cumulative distribution function of the Uniform[0, 1] distribution:? x
An analyst has been american dream stock : An analyst has been following American Dream stock. What is the projected selling price for the stock at the end of year 3?
Explain the vital component of the marketing plan : 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.
Identify cloud computing security risks : Analyze virtualization and explain how it differs from cloud computing. Identify cloud computing security risks and recommend ways to mitigate those risks.
Find the estimated regression line : Find the estimated regression line Use this format as an example when submitting your equation 123 - 45x
Analyze the local impact of global public administration : Select one (1) real-world policy issue and provide a description of the issue.? Analyze the major costs and major benefits of the issue.?
Briefly describe the programs requirements : Briefly describe the program's requirements. Describe the approach/structure of program.What classes/functions were used?

Reviews

Write a Review

Marketing Management Questions & Answers

  Integrated marketing communication

Developing an IMC plan of Amazon that aims to create awareness and knowledge amongst Singaporean  consumers of the ethics involved in buying clothing made from Bangladeshi factories  .

  Multiple choice questions on e-commerce

The assignment in Computer Science or Information Technology is about multiple choice questions, particularly in e-commerce. Questions such as types of e-commerce websites, commercial websites, disintermediation, Platform for Piracy, the data that ca..

  Balanced scorecard for red lobster

The assignment in marketing is about Red Lobster, which is one US and Canada's most loved seafood restaurant. It has hundreds of outlets in US and Canada and it now wants to expand further. The approach adopted by Red Lobster has been discussed in fu..

  Marketing plan - marketing audit, swot and smart report

The assignment in marketing is about preparing a marketing plan. As part of marketing plan, the SWOT analysis, assessing the competitive position, identifying critical competitive issues, marketing objectives, strategy and actions have been suggested..

  Marketing plan

Marketing deals with preparing a marketing plan for either an existing product or a new product. Various aspects about launching a new product into the market are discussed ranging from the industry the product belongs to, goals and vision of the com..

  Yamato corporation analysis - harvard case study

Please refer to the PDF for the Case Study and questions.The case study from Harvard Business School is about Yamato Corporation, a parcel delivery company which provides door to door delivery in Japan.

  Marketing plan - create a new product

The assignment in marketing is about competitive analysis for a new product namely "heated insoles". These heated insoles can be put in shoes and they can protect the wearer's feet by keeping them warm during cold winters.

  Report on digital marketing strategy for a website

Promotion strategies of  the one's own developed website

  Integrated marketing campaign of mccafe

Integrated marketing campaign for McDonald's McCafe. McCafe has been launched in Canada. This is a case study which involves the use of digital marketing and social media marketing apart from regular marketing such as TV and radio. All these more are..

  New product development at adidas

In this paper, the researcher also determines the different kind of practices used by Adidas to manufacture shoes for its customers.

  Managing services in competitive environment

Services can be defined as separately identifiable, intangible activities which provide want-satisfaction when marketed to household consumers and/or industrial users.

  Prepare a marketing plan

A marketing plan is an essential tool for any marketer, providing direction for a brand, product or organization. A marketing plan describes the marketing environment, marketing objectives and marketing strategies.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd