Select a product with which you are familiar with:
Problem 1: What industry code is your product associated with and what are some of the competitors and/or total size of this industry in terms of revenue or units shipped?
- Provide rationale from the e-text readings and cite references for your answer and consider using hoovers.com or other websites such as the company's website where publically traded companies annual report can be found for your secondary research.
Problem 2: Based on your knowledge of the product life cycle (PLC), what stage is your selected team's product in for the PLC, what types of strategic changes, from a marketing mix perspective are you expecting during each phase of the PLC? (Be sure to include pricing, which typically will change in most products, as it continues through the product life cycle)?
Problem 3: How will your experience with these questions assist the team in completing the market plan assignment of your selected team product/service?