Product Life Cycle Marketing Homework Help

Get marketing homework help and assignment help on product life cycle (PLC)  by management homework help experts.


Managing the product life cycle   

Sometimes demand patterns must be modified for consumers to perceive a firm's product differentiation as worthwhile. So, there are three choices in demand patterns such as homogeneous, diffused and clustered.  In homogeneous demand, consumers have similar needs and desires for a good or service. In diffused, consumer needs and desires are so diverse that no clear clusters or segments can be identified. On the other hand our marketing homework help experts says that, in clustered, consumer needs and desires can be grouped into two or more identified clusters or segments.

 Further, these demand patterns can be modified into various sub-choices according to the personal and geographic factors such as age, gender, occupation, location, climate, personality and attitude of customers. Through segmenting the customers according to these choices and sub-choices, marketers can manage product life cycle easily. Companies can segment their customer and target a specific segment according to the needs and desires of customers. PLC management is a driver of successful product development and strategic contributor to business value across the enterprise. PLC management also helps product manufacturers to manage complex and cross- functional processes.

Examples

Unilever provides different homogeneous products to its consumers as these products satisfy their similar needs and desires. In diffused demand, consumer needs and desires for a good or service category are so diverse that clear clusters cannot be identified. Marketing efforts are complex and product features are harder to communicate and more product versions may be offered. For example, Lipsticks, consumers have diverse preferences for lipstick colors. Same person may desire several colors on different occasions. So, marketers offer a range of colors for customers to manage product life cycle and demand.
          
 In clustered demand, customer needs and demands can be grouped into two or more groups according to their needs and desires. For example, Volkswagen provides cars in three range premium, medium and low according to the needs of customers. It offers Jetta, Beetle, Passat in premium range, Vento in medium range and Polo in low range for customers according to their income level and desires.

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Good Management homework help

Management  Homework Help | Project Management Homework Help

In this management homework help you will the idea of the factors of good management you would apply to establish this competitive advantage.

Factors of Good Management to Establish Competitive Advantage

Our homework help team say that, It is a common fact that competitive advantage is not based on the financial resources as well as technological resources; thus, it is one of the main reasons of human resource and its effective management. Therefore, it is essential to understand different factors of good management. There are several practices that are implemented by the business organizations to manage human resource and utilize the human capital in optimum manner. Different factors of good management are different programs for development of employees, motivational strategies on the basis of different theories such as need hierarchy theory, Maslow’s theory of motivation, etc.  Moreover, some other good factors of management are participate leadership, decentralized decision making process, etc. All these practices allow the management to polish the hidden skills and non-contingent capabilities of the employees so that they can firm in favor of the firm.

Six factor of successful management are commitment of top level executives towards the workforce, aspiration of recruiters and different practices to motivate them, maintaining alliances, integration of business activities worldwide, maintaining core capabilities of team, and aspiration of team to achieve goals and objectives. All these factors are also essential to enhance the employee’s competencies and improve their attitude and skills towards the firm, which enables the firms to achieve competitive advantages.

All these factors are essential to manage competitive advantage as high level of commitment between management and employees improve their long term relationship and employee can trust on the saying and doing of management. Without having a strong commitment level, it would be difficult for the management to boost the morale of employees to work with high zeal and enthusiasm. Additionally, some other factors to judge the effectiveness of management towards employees are relationship with the workers, experiences, loyalty, judgment of their intelligence, etc. All these factors also allow the management to utilize the skills and abilities human capital.  

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MGT5EBP Individual Business Plan Assignment Help

MGT5EBP Individual Business Plan Home work | Assignment Help

Headings

Title page

Executive Summary

Table of Contents

Section headings

References

Appendix

Market Feasibility

1. What is the size of the market?

2. What is the growth rate of the industry?

3. Is the market at full capacity?

4. Where are customers getting the product now?

5. Where are the customers?

6. How many would purchase from you?

7. What external factors come to bear? Government, Industry Dynamics

8. How long will this opportunity last in the market? (Window of Opportunity)

9. What keeps new competition from entering this market? (Barriers to Entry)

Technical Feasibility

Questions to Answer

1.    What are the options for developing the technology (customer, off the shelf, design yourself, subcontract)?

2. What are the options for producing the product or service?

• In House

• Subcontract

• License

• Joint Venture or Partnership

• Combination

3.What are the options for Sales and Distribution?

• In House

• Whole Sale

• Distributors or Sales Representatives

• License

• Joint Venture or Partnership

• Combination

4.What resources are required for development and are they available to you (skills, raw materials, components, suppliers, facilities & equipment)?

5. What are the laws and regulation relating to the business?

• Industry Standards or Regulations (Dangerous Goods, (Canadian Standards

Association - CSA), ISO

• Personal Certifications

• Intellectual Property (Patents, trademarks, copyrights)

• Environmental Liability

6. Has the research discovered any moral or ethical issues that you are uncomfortable with?

7. What technological changes are changing or emerging that may affect the business?

Financial Feasibility

1 What are the projected Revenues from the sale of your product or service?

• From the Market Research, what is the projected sales volume in "units sold?" and in "dollars sold"?

• From the Market Research, what is the selling price per unit?

• What is the total expected revenue?

2. What are the financial dynamics and opportunities?

• Costs Structure (per unit basis)

- Price per unit minus

- Variable Costs (Cost of Goods Sold & Controllable Costs) per Unit equal

- Gross Margin per Unit minus

- Fixed Costs per Unit equal

- Net Margin per Unit

3. Is it worthwhile financially?

• 1 Year Monthly Cash Flow Statement. (Completed in a spread sheet format so it can be built upon with new information)

• Ensure that you clearly show all assumptions for this statement.

4. How much investment is required?

• One Time Assets and Startup Expenses

- Plant & Equipment

- Leasehold Improvements

- Initial Inventories

- Research & Development

- Legal

- Experts

• Operating expenses prior to break even

5. What are the financial risks?

• Break Even Analysis Units to break even. (Total fixed costs from Income statement

divided by Gross margin per unit) Figure out on a monthly basis.

• Payback (Investment required divided by net margin per unit - Date when units calculated above are sold & collected.)

• Return on Investment (Yearly Net Profit divided by Total Investment required)

• Risk vs. Reward (Personal feelings of the risks and rewards)

• Opportunity Costs (Can you get a better return somewhere else?)

• Personal Financial Risk (What will you have to give up. Sign over mortgage etc.)

6. What are the possible sources of financing?

• Chances of getting the money?

• What will you have to give up?

7. General Financial Numbers that would indicate attractiveness of Venture

• Gross Margin 20 - 30% plus

• Net Profit Margin - 10 to 15%. Plus

• Return on Investment - 15% plus

• Payback - 3 years or less.

• Break even - 2 years or less

• Note: These numbers must not be looked at in isolation over a one year period. You need to look at the numbers over a 3 year period and as a whole, not just individually. Industry averages can be quite different.

Human Resource Feasibility

Questions:

1. What technical and management experience is required?

2. Who are the owners and what are their roles? (Entrepreneur, Manager, Tech. Expert)

3. What is the ownership structure?

4. What are the manpower requirements?

- How will you find the right employees?

- How will you compensate employees (pay for time, for production, for knowledge, or a combination)?

- How will you motivate employees?

- What training will they need on an ongoing basis?

5.What is the company’s growth strategy?

- How will quality be managed and maintained÷

- How will organizational structures change with growth?

- What career paths will employees have available?

Appendix A

Start-up Expenditures and Expenses Worksheet

Item Total Cost Cash Required

Land __________ __________

Capital Equipment __________ __________

Computer __________ __________

___________ __________ __________

___________ __________ __________

Beginning Inventory __________ __________

Start up Supplies __________ __________

Licenses and Permits __________ __________

Leasehold Improvements __________ __________

Utility hookups& Installation __________ __________

Advertising (Preopening) __________ __________

Insurance __________ __________

Other __________ __________

_______________ __________ __________

Total Estimated One-Time Cash Requirements __________ __________

Start-up Operating Expenses

Estimate No. of Months Total Cash

Item Monthly Expense X Before Break even = Required

Owners Salary __________ __________ __________

Employee’s salary, wages, benefits __________ __________ __________

Rent __________ __________ __________

Promotion expenses __________ __________ __________

Supplies and postage __________ __________ __________

Vehicle Expenses __________ __________ __________

Telephone __________ __________ __________

Travel __________ __________ __________

Interest __________ __________ __________

Maintenance __________ __________ __________

Other __________ __________ __________

____________ __________ __________ __________

Total Cash Required to Cover Operating Expenses _________

Plus: Total One-Time Cash Requirements (Previous Table) __________

Add 10% Safety Factor __________

Total Cash Required for Start-up _________

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