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 so that it can thrive for as long as possible. At each stage, you assess changes in the target market, determine changes that you need to make to the product or price strategy, and review the competition and profitability.

Create a 12- to 15-slide (not counting cover slide or reference slide) Microsoft PowerPoint presentation with detailed speaker’s notes that covers the following criteria:

  • Develop a slide that establishes the theme and goals of the presentation. —
  • Define and discuss the PLC concept. —
  • Discuss why the PLC is important to marketing managers.
  • Provide at least three examples of what might happen if the PLC is not monitored by marketing managers
  • Describe the selected company/organization, product/service, the target market for this product, and how the product/service is presented to the selected target market in terms of the four P’s of marketing.
  • Describe how brand equity can be used to create a positive customer image of your product.
  • For each stage of the PLC, provide a brief description of the stage, and then analyze the implications which that stage may have on pricing, product definition, competition, and profitability for your one selected product/service.
  • Have at least two references

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