Write a 700- to 1,050- word paperanalyzing how the company has managed each stage of the product life cycleofits popular MP3 player. Determine which stage of the life cycle the productisin currently. Defend why you feel the product is in the stage you identified.Your paper should include the following elements:
- A brief description of the product’s objectives and marketing strategies
- An analysis of the introduction phase of the product
- An overview of how the company has managed or should manage the product through the growth stage
- A review of how the maturity stage has affected or will affect the product’s sales, profits, pricing, and marketing communicationA prediction of the product’s decline in the marketplace
Summarize your paper by answering thefollowing questions: Do you agree or disagree with how each stage has >enmanaged? What alternative approaches to life cycle management would yousuggest?
Include a recommendation for managementofthe next applicable stage of the product life cycle. Format your paper according to APAstandards.