ProfGiraffe2965
Product Life Cycle Activity Below is a list of products that are…
Product Life Cycle Activity
Below is a list of products that are currently in the decline stage of the Product Life Cycle. Your job is to choose two and answer the following questions in complete sentences for each.
PRODUCT 1
1. When was this product created?
2. Who created it?
3. What newer products were introduced that made this product go into the decline phase?
4. Why do you think the newer products were introduced? What was wrong with the older ones?
5. If the current products were not available, would we still be able to survive on the older version? Why or why not?
6. List and explain three improvements that could be made to the newer products that would make them better or more popular?
P PRODUCT 2
1. When was this product created?
2. Who created it?
3. What newer products were introduced that made this product go into the decline phase?
4. Why do you think the newer products were introduced? What was wrong with the older ones?
5. If the current products were not available, would we still be able to survive on the older version? Why or why not?
6. List and explain three improvements that could be made to the newer products that would make them better or more popular?
PRODUCT 3
1. When was this product created?
2. Who created it?
3. What newer products were introduced that made this product go into the decline phase?
4. Why do you think the newer products were introduced? What was wrong with the older ones?
5. If the current products were not available, would we still be able to survive on the older version? Why or why not?
6. List and explain three improvements that could be made to the newer products that would make them better or more popular?
NNow think of a product that is new to the market. It is in the Introduction Phase. Answer the following questions.
1. What is your product? What does it cost?
2. Why do you think it was created? Why was it such a good idea? Does it replace other products or is it a completely new idea?
3. Do you think it will go through all the phases of the Product Life Cycle and become a long-lasting popular product? Why or why not?
4. What do you think could be done to the product to make it better or more appealing to customers?
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Calculating Pricing
10.3 – Pricing and Distribution
Take the inputs give and determine what you would price for each product:
Company A has a new product it wants to bring to the market soon. How should it be priced?
Cost to produce each product: $0.59
Cost to sell each product: $0.41
Profit Company A wants to make profit for each unit: $0.50
Company B is offering a new service starting on Monday. What should the price point of the product be?
Cost to perform service: $45 (3 hrs labor @ $15/hr)
Profit expected per hour: $5
What is the gross margin on the following product?
Cost to produce: $25
Selling Price: $40
It is Memorial Day weekend and the surf shop wants to take advantage of the people coming to the beach for the weekend, so they are raising prices on their boogie boards. What is the markup on the boogie boards?
Original price: $35
Memorial Day weekend price: $45
It is after Labor Day weekend, and while the weather is still nice, not nearly as many people are heading to the beach anymore. The surf shop is hoping to sell the remaining boogie boards they have in stock so they are offering a sale price. What is the mark down?
Original price: $35
Sale price: $20
