Product Life Cycle Strategies

The three levels of a product are core product (basic form of the product, e.g. a smartphone for communication), peripheral services (extras like warranty or customer support, e.g. extended warranty for the smartphone), and augmented product (core product plus extras, e.g. a smartphone with extended warranty and additional accessories).

The strategies for managing the product life cycle include analyzing historical data, observing competitors, adjusting the product mix, learning from similar products, predicting future sales, identifying current life cycle position, and developing strategies accordingly.

The pros of the product life cycle concept include guiding marketing planning, encouraging proactive strategies, and identifying threats and opportunities. The cons include not being universal, potentially being a self-fulfilling prophecy, being hard to predict changes, and the possibility of overlooking other factors.

<p>The conflict resolution strategies for marketing versus operations include using shared managers, forming cross-functional teams, and providing employee training to bridge the gap between revenue-driven, variety-focused marketing and cost-driven, standardization-focused operations.</p> Signup and view all the answers

<p>The basics of distribution channels discussed in Chapter 9 include communication and negotiation, facilitating transactions, storing and moving goods, installation and service, and channel width such as exclusive distribution with limited sellers.</p> Signup and view all the answers