# CTE Resource Center - Verso - Marketing, Advanced Task 953548216

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Analyze the life cycle of an existing product/service.

Definition

Analysis should address the stages of a selected product/service's life cycle, including introduction, growth, maturity, and decline, all of which affect a product/service's pricing and lifespan.

Process/Skill Questions

  • How can it be determined in which phase of the life cycle a selected product/service is?
  • What strategies could be utilized to move the product/service to another phase?
  • What might a business do to delay the decline of a product/service?
  • How does pricing play a role in the sequence of events in the life cycle?
  • How can advancements in technology cause products/services to be continually changed?
  • What is considered the least profitable stage of the life cycle? Why?
  • When a product has gone into decline, how can a business remove that product and still keep dedicated customers (e.g., Tab by Coca-Cola)?
  • Does a service have a life cycle? Explain.
  • How can a service adjust to the changes in technology to avoid becoming obsolete (e.g., movie rental stores)?

Related Standards of Learning

English

11.5

The student will read, interpret, analyze, and evaluate a variety of nonfiction texts including employment documents and technical writing.
  1. Apply information from texts to clarify understanding of concepts.
  2. Read and correctly interpret an application for employment, workplace documents, or an application for college admission.
  3. Analyze technical writing for clarity.
  4. Paraphrase and synthesize ideas within and between texts.
  5. Draw conclusions and make inferences on explicit and implied information using textual support.
  6. Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
  7. Analyze false premises, claims, counterclaims, and other evidence in persuasive writing.
  8. Recognize and analyze use of ambiguity, contradiction, paradox, irony, sarcasm, overstatement, and understatement in text.
  9. Generate and respond logically to literal, inferential, evaluative, synthesizing, and critical thinking questions about the text(s).

12.5

The student will read, interpret, analyze, and evaluate a variety of nonfiction texts.
  1. Use critical thinking to generate and respond logically to literal, inferential, and evaluative questions about the text(s).
  2. Identify and synthesize resources to make decisions, complete tasks, and solve specific problems.
  3. Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
  4. Recognize and analyze use of ambiguity, contradiction, paradox, irony, overstatement, and understatement in text.
  5. Analyze false premises claims, counterclaims, and other evidence in persuasive writing.

History and Social Science

GOVT.9

The student will apply social science skills to understand the process by which public policy is made by

  1. defining public policy and determining how to differentiate public and private action;
  2. examining different perspectives on the role of government;
  3. describing how the national government influences the public agenda and shapes public policy by examining examples such as the Equal Rights Amendment, the Americans with Disabilities Act (ADA), and Section 9524 of the Elementary and Secondary Education Act (ESEA) of 1965;
  4. describing how the state and local governments influence the public agenda and shape public policy;
  5. investigating and evaluating the process by which policy is implemented by the bureaucracy at each level;
  6. analyzing how the incentives of individuals, interest groups, and the media influence public policy; and
  7. devising a course of action to address local and/or state issues.

GOVT.15

The student will apply social science skills to understand the role of government in the Virginia and United States economies by

  1. describing the provision of government goods and services that are not readily produced by the market;
  2. describing government’s establishment and maintenance of the rules and institutions in which markets operate, including the establishment and enforcement of property rights, contracts, consumer rights, labor-management relations, environmental protection, and competition in the marketplace;
  3. investigating and describing the types and purposes of taxation that are used by local, state, and federal governments to pay for services provided by the government;
  4. analyzing how Congress can use fiscal policy to stabilize the economy;
  5. describing the effects of the Federal Reserve’s monetary policy on price stability, employment, and the economy; and
  6. evaluating the trade-offs in government decisions.

Other Related Standards

National MBAResearch Standards-Marketing

Acquire a foundational knowledge of product/service management to understand its nature and scope.

 

Employ marketing-information to plan marketing activities.