1. As a marketer, how could you maximize the odds of creating that effectiveness? How does line extension differ? Identify a recent line extension that you have seen and discuss the (likely) effectiveness of that line extension. As a marketer, how could you maximize the odds of creating that effectiveness?
2. How might a line extension guard against that?
3. Which do you think generally involves greater risk: brand or line extension?
4. What are the advantages and drawbacks to using multi-branding? Why might Marriott associate some brands with the Marriott name? Why do companies like P&G and ConAgra not generally make those associations?
5. Identify a couple of new products that have entered the market in the past few years and been successful. Identify a couple of products that have failed in the market. Why did some succeed and others fail?
6. Based on the results of your decisions in this simulation, what are some of your observations about the process of developing new products?
7. Based on the simulation, why is important to revise a marketing strategy through a product's life cycle?
8. Consider the PLC. Choose four products/services different from the text examples where one is in Introduction, one is in Growth , one is in Maturity and one is in Decline. Explain your choices.