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Can you name products that…..
• Have just been introduced
• Have established themselves in the market
• Are going out of fashion?
Theme 1: Marketing & People
This theme enables students to understand how businesses identify opportunities and to explore how
businesses focus on developing a competitive advantage through interacting with customers. Students
develop an understanding of how businesses need to adapt their marketing to operate in a dynamic
business environment. This theme also considers people, exploring how businesses recruit, train,
organise and motivate employees, as well as the role of enterprising individuals and leaders.
1.3 Marketing mix and strategy
Subject content
1.3.5 Marketing strategy
What students
need to learn:
a) The product life cycle
b) Extension strategies:
• product
• promotion
c) Boston Matrix and the product portfolio
d) Marketing strategies appropriate for different types of
market:
• mass markets
• niche markets
• business to business (B2B) and business to
• consumer (B2C) marketing
e) Consumer behaviour – how businesses develop
customer loyalty
Product Life Cycle
Sales Revenue
Using the above headings… draw a PLC….
TIME
Product Portfolio Analysis
Product Life Cycle
What is the next step?
In pairs
Produce a product life cycle for a product of your choice. Use the
internet to see if you can find the timeline of the product.
Complete the time stages that the product went through during
each stage of its lifetime:
1.
2.
3.
4.
5.
6.
Development
Introduction
Growth
Maturity
Decline
Extension strategy
If you are stuck look at some of the following: video recorders or
cassettes, the Sony Walkman, vinyl singles or LPs, Playstation or
any other similar type of product.
Product Life Cycles
What happens here?
Sales
Effects of Extension
Strategies
Time
Types of extension strategies?
http://www.tutor2u.net/business/reference/product-life-cycle-revision-quiz