1. PRODUCT LIFE CYCLE- 6 marks

a) List and briefly define the stages of the product life cycle and then identify and justify what stage of the product life cycle this product is in? (6 MARKS)

b) We know that many new products fail to make it past the introduction stage of the product life cycle, provide management of the company two reasons that new products fail so that they can ensure success. (2 MARKS)

 

 

2. DISTRIBUTION STRATEGY - 6 marks total

This company does not want to run their own store.  Keeping your earlier Customer Profile, Product SWOT in mind, answer and justify the following questions relating to distribution strategy.

a.) Name the members of the distribution channel for your product and explain what value each element provides.   (3 MARKS)

b.) What retailer would you recommend for your product in Calgary and why? Be specific and link to your target market. (3 MARKS)

3. PRICING STRATEGY/ PRICING APPROACHES - 6 marks total

a.) Name and define two distinct Pricing Strategies/Approaches that could be appropriate for this company and their product offering. (4 MARKS)

Pricing strategy 1:

Pricing strategy 2:

b.) Choose one (1) of these Pricing Strategies/approaches. Fully justify why this would be the BEST pricing choice to make their business be successful and grow. (2 MARKS)