Question

Rachel recently took over the role as marketing manager at WashamAgri, a leading producer of agricultural products to help farmers be more successful. Rachel’s first task is to analyze where each of Washam’s products are in the product life cycle. This activity is important because marketers should understand the characteristics of each stage of the product life cycle so that they can make decisions as to which elements of the marketing mix are most effective for each. The goal of this exercise is for Rachel to categorize each of WashamAgri’s major products as to where they are in the product life cycle so that she can develop a report as to what marketing actions should be taken for each product. Select the most appropriate stage of the life cycle for the situations below. 1. New yield-enhancing rice product with no direct competitors 2. Tractor part that is not profitable due to heavy R&D expense 3. Combine engine that is beginning to take advantage of economies of scale 4. Fertilizer product where the firm is working to build a distribution network for 5. Irrigation equipment where customer service and repairs are providing the major source 6. Barn lighting product that has started to see a decline in profits 7. Livestock feed product that has seen rapidly falling sales in recent months

Answer 1