Test Yourself Login

The Product Life Cycle | Part II

This video, the second in a four-part series, introduces the theoretical model of the product life cycle, which outlines the stages products undergo from creation to discontinuation. It specifically focuses on how businesses can adapt their marketing mix strategies to effectively accommodate products that are currently in the growth stage of the product life cycle.

⏱️ Chapter Timeline

Scroll horizontally →

✨ AI Takeaways & Lesson Breakdown

1
The Product Life Cycle (PLC) is a theoretical model that illustrates the various stages a product experiences, from its initial creation to its eventual discontinuation.
2
Although the progression through the PLC can vary for different products, the model offers a foundational framework for businesses to strategically adjust their marketing mix (product, price, place, promotion) based on the product's current stage.
3
This particular video, part two of a four-part series, will delve into specific strategies for businesses to modify their marketing mix to effectively support products that are positioned within the 'growth stage' of the product life cycle.

Course Content

24 Lessons Total

Playlist
01
Introduction to Marketing: The Importance of Product, Price, Place, & Promotion | Episode 118
02
Introduction to Marketing: The Marketing Mix
03
Using Primary and Secondary Research | Episode 33
04
Introduction to Marketing: How Marketers Create Value | Episode 49
05
How to Use Market Segmentation: Developing a Target Market
06
The Consumer Buying Process: How Consumers Make Product Purchase Decisions
07
The Product Life Cycle | Part I
►
The Product Life Cycle | Part II
09
The Product Life Cycle | Part III
10
The Product Life Cycle | Part IV
11
How the Boston Consulting Group (BCG) Growth-Share Matrix Works
12
The Product Mix
13
Introduction to Marketing: The Promotional Mix
14
The Difference Between Goods & Services
15
Episode 55: How Distributors Add Value
16
Episode 56: Types of Distribution Channel Intermediaries
17
Episode 58: Store vs. Non-store Retailing
18
How to Conduct a Breakeven Analysis
19
Pricing Objectives and Strategies
20
Episode 60: Fixed Margin Pricing
21
The Penetration Pricing Strategy
22
The Price Skimming Strategy
23
The Everyday Low Price Strategy
24
The High-Low Pricing Strategy

🎉 Lesson Progress Check!

Would you like to take a short quiz to test your knowledge on this video before moving on?