Through this assignment you will learn that failure is a valuable learning tool

Question

Through this assignment you will learn that failure is a valuable learning tool and that many great ideas are born from the experience of failure are well on the road to success. Through this assignment you will be able to showcase the knowledge you gained from this weeks reading and lecture on the first element of the marketing mix, “Product”, and if you choose you can use the product life cycle to assist you in explaining how the business/product failed. The products that I would like to use are the Pepsi a.m. and Crystal Pepsi this product was trying to be sold sold from 1989 to 1982 I just need assistance with how to incorporate the product life cycle in that scenario please thank you please add any references if you can for me thank you

Explanation / Answer

Some reasons that Crystal Pepsi and pepsi am failed:

1. Targeted old consumers( age 21 to 25)

2. Marketing inefficiency

3.No significant point of difference with other colas.

4. Marketing Fad

Add product life cycle as follows:

1. Introduction: Initiation sales by people who love to try new products. A little sale. Less people know about it .

2. Growth: Product gains some recognisation in the market. Sales increased due to promotion. Cost per customer fell and rise in profit.

3. Maturity: Highest amount of sales, profits high, mass market. No increase in sales from this point.

4. Decline: Drop in sales, people losing interest in crystal pepsi and pepsi am. Loss of market, less or declining market.

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