Firms that market only one product are rare today. Discuss why most
companies have a “product mix.”
The product life cycle is a well-known “theory” that is
often misused as a “predictive model” or a “normative
model.” Explain what the terms “theory”, “predictive
model,” and “normative model” mean in the context
of the product life cycle.
Draw what the product life cycle looks like at this point in time
for products like Ivory Bar Soap, Coca-Cola, and Kleenex Tissues, which
were introduced 80+ years ago and are still viable market entries. Discuss
whether the life cycle you have drawn is a goal that most marketers
have for their products.
The text claims that a firm should use market segmentation extensively
in the maturity stage of the product life cycle. Explain why.
d speculate on which stages of the process might have contributed
the most to this improvement in efficiency.
It is generally accepted that a new product should fit well with the
orientation, skills, and resources of the firm that offers it. Discuss
what the consequences of having a poor-fitting new product might be
to a firm.
Compare and contrast the consumer adoption process discussed in this
chapter with the consumer decision process discussed in Chapter 8.
Innovators and early adopters are important to new products. Discuss
how viable it is for marketers to target innovators and early adopters
in the initial stages of their marketing plans for a new offering./
