The agency has a client Fancy Mama Products who makes various high end household appliances and...

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The agency has a client "Fancy Mama Products" who makes various high end household appliances and gadgets for the consumer/home goods and they have decided that they need to come out with a new product in order to generate new revenues. Here is what Buzz needs to do: Complete a Product Life Cycle Analysis • Choose three existing products from the same industry and identify their CURRENT life cycle stage (introduction, growth, maturity, decline). • Explain the reasons for why they are in the selected life cycle stages and the factors that have influenced each stage. Next--come up with a new product idea: • Based on your analysis of the existing products and potential gaps in the market, identify a new product idea that you believe will succeed in the market. • Who are the potential customers, competition, and demand for the new product? • Develop product concept and provide a detailed description of its features, benefits, and unique selling points so you can convince Fancy Mama to go ahead with this product idea. Submit a 3-4 page word document that includes both the PLC analysis and your new product proposal. The agency has a client "Fancy Mama Products" who makes various high end household appliances and gadgets for the consumer/home goods and they have decided that they need to come out with a new product in order to generate new revenues. Here is what Buzz needs to do: Complete a Product Life Cycle Analysis • Choose three existing products from the same industry and identify their CURRENT life cycle stage (introduction, growth, maturity, decline). • Explain the reasons for why they are in the selected life cycle stages and the factors that have influenced each stage. Next--come up with a new product idea: • Based on your analysis of the existing products and potential gaps in the market, identify a new product idea that you believe will succeed in the market. • Who are the potential customers, competition, and demand for the new product? • Develop product concept and provide a detailed description of its features, benefits, and unique selling points so you can convince Fancy Mama to go ahead with this product idea. Submit a 3-4 page word document that includes both the PLC analysis and your new product proposal.

Answer rating: 100% (QA)

Product Life Cycle Analysis Product 1 Robotic Vacuum Cleaner Current Life Cycle Stage Maturity Explanation The robotic vacuum cleaner is currently in the maturity stage of its life cycle It was introd... View the full answer