Week Three Discussion Questions
•Select a product with which you are familiar. What stage is this product at in the product life cycle? Provide rationale for your answer. The chose Apples IPhone and currently it is the Maturity phase of the product life cycle. The IPhone is very popular and is often copied or remanufactured to look like and perform the same as the original. Apple is creating new features, products, and apps to allow users to do a lot more than ever before. Based on your knowledge of the product life cycle, what types of changes will occur to this product as it continues through the product life cycle? Apple is going to face tough competition as it tries to hold on to market share and maintain revenue. How will this affect marketing of the product? Once the IPhone it the market it took off like a rocket. The market wanted to get it in the action and flooded the market with so-called smartphones. It is my opinion that Apple will have to reduce the price of the phone and better serve the its customers with continued upgrades and apps. •Select a product or service. Then, select three different organizations that provide your selected product or service and compare the prices associated with it. What is the difference between the prices among the different organizations? What is the rationale for this difference? The IPhone, the Verizon HTC phone, and the Windows phone are in the ballpark as far as price goes, the difference will be in the plans selected to run each phone. Each of the competitors is trying to build a better mousetrap and price out the competition. However, technology is not cheap and the cost reduction will have to occur somewhere in the manufacturing process for one company to surpass the rest.