1. MKT 421 Mapping the Product Life Cycle
(PLC)
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Assignment
The Product Life Cycle (PLC) is a vital component
of the marketing plan. Monitoring products and
services as they flow through this process helps
marketing managers adjust their marketing
strategies to keep products and services thriving
for as long as possible. Monitoring this cycle helps
companies and organizations continue to
2. maximize the value of their products and services
with their target over time. The purpose of this
assignment is to give students the opportunity to
understand how each stage in the PLC creates a
need for adjustment to marketing strategies and
allows students to assess what action(s) need to be
taken.
Assignment Steps
Resources: Marketing: Ch. 1: pg. 4-10; Ch. 2: pg.40-
46, 54-69; Ch. 11: pg. 292-309 :
Scenario: You currently work as the marketing
manager of your favorite company/organization
and manage the success of one of its products or
services. Your responsibility is to monitor the
stages of the Product Life Cycle (PLC) and adjust
the marketing strategies as needed for your
product to thrive for as long as possible. At each
stage, you assess changes you need to make to the
product, price strategy, as well as competition and
profit.
Create a 10- to 20-slide (not counting cover slide
or reference slide)
Microsoft® PowerPoint®presentation with
speaker's notes covering the following criteria:
3. . Develop a slide setting the theme and goals of
the presentation.
. Define and discuss the PLC concept and its
importance to marketing managers.
. Define and discuss what role pricing strategy
has in marketing and how marketing mangers
decide what strategy to use.
. Describewhat company/organization and
product/service you are using.
. Create one slide for each of the four stages of
the PLC describing the stage and analyzes the
implications each stage may have on price
strategy, product, competition, and profit for
your selected product/service. Use the
product/service you selected to illustrate each
stage as it is discussed with original examples.
. Discuss the reasoning behind why the PLC is
important to marketing managers and share
examples of possible implications if it is not
monitored.
Cite a minimum of two peer-reviewed sources
with one coming from the textbook or the
University Library. Use in-text citations in the
presentation slides and speaker's notes to
demonstrate your
research.
