- 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.
- Product Usage Categories
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?
link: Minimus.Biz (http://www.minimus.biz/default.aspx)