What is a product life cycle and how does the life cycle affect the market strategy of the product? Discuss the different ways prices are set for new products.
· Research a product or idea from a company such as Microsoft, Google, or Apple that failed during the steps of new product development. What step/stage did it fail? Why?
· What significance does packaging have on the consumer when comparing similar products? How are products marketed?
· Examine three products you use daily – this can be for work, school, etc. Evaluate the marketing strategy for each product including the product, price, promotion and distribution.
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A product life cycle