Case Scenario:
Barbie, at the age of 41, is one of the longest living toys in America. Her creators, Ruth and Elliot Handler, co-founders of Mattel, got the idea for her after watching their daughter, Barbara, play with paper dolls. Ruth wanted a 3-D rendition of an adult doll that was affordable and came with her own clothes and accessories. It is not irrational to presume that there is not a single girl in the world that has not owned a Barbie at one point of another. Girls are obsessed with Barbie's; they love to dress her up, take her for a walk, cook with her, and play with other friends with Barbies.
Based off this scenario, how do you include the following:
1) Describe the attributes of your product.
2) Describe the pace at which the product will move through the product life cycle and any factors that will impact its movements. How will the product life cycle impact the marketing of the selected product/service.
3) Identify the positioning and differentiation strategies for the product/service
4) Identfy the appropiate price strategy that should be used for the product.