Product Life Cycle

Product Life Cycle Worksheet

For each part of the marketing mix for REI, list several marketing tactics that would be used for each stage of the product life cycle. Several have been started as examples.

Marketing Mix

Introduction

Growth

Maturity

Decline

ProductFootwear

1. Launch of a product.2 Offer basic product i.e. footwear.

1. New product features: colors, styles, accessories are added.

2. Bring improvisation in product in term of quality and styling of footwear.

1. Bring innovation in products.

2. Differentiate products with that of competitors.

1. Focus on Stars and cash cow products.

2. Stop producing failed product.

Place (Distribution)

1. Distribution may be limited to Flagship stores as a test.

2. Distribution will be focused.

1. Increase number of outlets.

2. Intensive distribution

1. Increase distribution channels.

2. Introduce new channels.

1. Distribution is mostly through the outlet stores.

2. Distribution channel becomes selective.

Price

1. Use cost plus pricing to cover cost.



1. Prices start to lower due to competition.

2. Goal is to maintain pricing.

1. Maintain price to compete in the market.

2. If price is higher than competitors, reduce price of Footwear.

1. Clearance Pricing in effect.

2. Give Discounts and use bundled pricing.

Promotion

1. Goal of initial promotion is to tell consumers what the new product is and does.

2. Create brand awareness.

1. Increase marketing budget.2. Create brand awareness in mass market.

1. Point out differentiation.

2. Capture more customers.

1. Focus promotion on Stars products.

2. Do enough promotion to retain current customers.

Product Life Cycle Worksheet

For each part of the marketing mix for REI, list several marketing tactics that would be used for each stage of the product life cycle. Several have been started as examples.

Marketing Mix

Introduction

Growth

Maturity

Decline

ProductApparel

1. Research about the product.

2. Offers the basic product i.e. apparel.

1. New product features: colors, styles, accessories are added.

2. Offer product extensions and warranties.

1. Create diversification.

2. Bring innovation in products.

1. Cease the production of weak items.

2. Bring newness ...