Title: Identify strategies for using the product and/or service life cycle.
Course: Marketing Management (12166) > Section: Investigating the Product and/or Service Life Cycle

Identification should include techniques for using the product life cycle to

- develop marketing strategies for extending the life of older products and/or services
- stimulating new product and/or service acceptance
- making product and/or service deletion decisions.

Process/Skill Questions:

- What specific strategies would be used to manage a soft drink (or other common product) during each stage of the product life cycle?
- When should the decision be made to discontinue a product?
- Why should a business be careful when making a decision to discontinue a product?
- What strategies could be used to move a product from maturity back into growth?
- What factors does marketing focus on during the introductory stage of a product?
- What does it mean when a product has entered the decline stage of the product life cycle?