Module 4 First Assignment In the Module 4 materials we are starting by looking at product management concerns for the business market. The reality of product management is there is really no separation between business marketing and consumer marketing strategies. We need good products and sound management strategies for those products as they move from the supply chain, through production, through distribution, and ultimately to consumers. Therefore effective product management strategies often start by looking at consumer needs. Tools that help us examine specific product strength and weaknesses and relative positioning in the consumers' minds include among other things, the product life cycle and the Boston Consulting Group (BCG) matrix. The product life cycle shows a standard life flow that a product may go through from development through and ultimately through decline. The BCG matrix shows relative product success potential based on market share and market growth rates. Recently in an attempt to get more value from these tools, some authors have combined the product life cycle and the BCG matrix into one model. 1. How would you combine them? (use any type of software you need to do this, you DO need to create a picture, graph, or chart to complete this assignment. You can save it as a jpeg or .gif if you do not have software to accomplish this. If you must you can hand draw something and take a picture with your phone and attach it to your assignment.) *** Note you MUST include the Devotopment stage of the product life cycle as discussed in our text for the course. *** 2. Explain in words how you have combined the models. 3. What would be some of the advantages of this combined model or what is gained by combining the information from these two models? 4. What would be some limitations or drawbacks of this combined model? Remember to get full credit you must provide some type of model picture, chart, or graph and you must include the Development stage (show 5 total stages) of the product life cycle. ge 101 Focus Module 4 First Assignment In the Module 4 materials we are starting by looking at product management concerns for the business market. The reality of product management is there is really no separation between business marketing and consumer marketing strategies. We need good products and sound management strategies for those products as they move from the supply chain, through production, through distribution, and ultimately to consumers. Therefore effective product management strategies often start by looking at consumer needs. Tools that help us examine specific product strength and weaknesses and relative positioning in the consumers' minds include among other things, the product life cycle and the Boston Consulting Group (BCG) matrix. The product life cycle shows a standard life flow that a product may go through from development through and ultimately through decline. The BCG matrix shows relative product success potential based on market share and market growth rates. Recently in an attempt to get more value from these tools, some authors have combined the product life cycle and the BCG matrix into one model. 1. How would you combine them? (use any type of software you need to do this, you DO need to create a picture, graph, or chart to complete this assignment. You can save it as a jpeg or .gif if you do not have software to accomplish this. If you must you can hand draw something and take a picture with your phone and attach it to your assignment.) *** Note you MUST include the Devotopment stage of the product life cycle as discussed in our text for the course. *** 2. Explain in words how you have combined the models. 3. What would be some of the advantages of this combined model or what is gained by combining the information from these two models? 4. What would be some limitations or drawbacks of this combined model? Remember to get full credit you must provide some type of model picture, chart, or graph and you must include the Development stage (show 5 total stages) of the product life cycle. ge 101 Focus