Product Life Worksheet

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|

Product|1. Intensive personal selling, Branding 2. Coupons for the products|1. New product features: colors, styles, accessories are added.2. Maintain existing quality|1. Features and modifies product to compete with other companies and to stand out against other products.2. becomes more stylish than functional.|1. Product deletion-may be dropped from a product line2. Updated model of product to add technology as it advances. |

Place (Distribution)|1. Distribution may be limited to Flagship stores as a test.2. High dealer margins are often need to obtain adequate distribution.|1. Major key to success. Without adequate distribution it is hard to establish a strong market position. 2. Becomes more significant as the increase demand and acceptability of the product. |1. New channels are added to compete with competition.2.Incentives are offered in order to get self-preference over competitors|1. Distribution is mostly through the outlet stores.2 Narrowed distribution, decline on how many items are carried in each store|

Price|1.Price is higher due to R&D cost2. Increase advertising increases price |1. Prices start to lower due to competition.2. May maintain at a higher price if in high demand|1. Prices lower even further due to intense competition at the maturity stage2Price to matchor best competitiors|1.Clearance Pricing in effect.2.Price may be maintained for certain products to service a specific market.|

Promotion|1. Goal of initial promotion is to tell consumers what the new product is and does.2. Samples and trails are provided to attract potential customers and promotional programs may be essential. |1.) Switches from primary brand promotion switches to aggressive brand advertising and...