MKTG 3433 - Chapter 10 Assignment

If Philip B decided to formulate a lower-price, lower-quality hair care line, it should sell this new product line at

Target and other big-box retailers.

This activity is important because products, like people, have a life cycle. The product life cycle describes the stages a new product goes through in the marketplace: introduction, growth, maturity, and decline. The introduction stage of the product life cycle occurs when a product is introduced to its intended target market. The growth stage of the product life cycle is characterized by rapid increases in sales. The maturity stage is characterized by a slowing of total industry sales or product class revenue. The decline stage occurs when sales drop. The goal of this activity is to demonstrate your understanding of how the marketing mix can be utilized throughout a product's life cycle.

The correct answer is: Introduction: Cannon Growth: Apple Maturity: Maytag Decline: Sony

Putting the new hair care line sold at Target and other big-box retailers under the same Philip B brand may

dilute the established brand in the eyes of loyal customers.

With its new hair care line, Philip B should use

fewer, or less expensive, botanical ingredients to lower production costs.

If Philip B decided to formulate a lower-price, lower-quality hair care line to be sold at Target and other big-box retailers and used a different brand name, it would be using a ________ strategy.

multibranding

If Philip B were to select a multibranding strategy, packaging of the new hair care line would be

unique and not display the "Philip B" brand name.