30 Aug Hello, Can someone help me with these two discussion questio
Hello, Can someone help me with these two discussion questions. This is due by tonight!!1. Choose two products; each one should currently be in a different stage of the product life cycle. (Explain why you think each product is in the particular stage).For one of these, find out how they are currently marketed (i.e. with respect to product features, pricing, distribution, and promotion). Has there been a change in the way they are marketed now compared to when they were in the previous stages of their respective lifecycles? If in the introductory stage, how would you suggest they change their strategy in future stages?E.g.: Greek yogurt is in the growth stage of the product life cycle. During the introductory phase, there was initially only one big player (Fage) who interestingly enough did not market the new product category very well. In the introductory phase of a brand new product category, the first mover typically tries to build awareness, but in this case it took the second entrant to do this; it was only after Chobani entered the market that the category became better known. In the current phase (growth), the number of brands in this category has increased significantly. Most of them are promoted via mass media campaigns; however some brands now focus on specific product features (e.g. Yoplait Greek on calories, Oikos on being organic), in an effort to differentiate themselves rather than on building awareness. As is typical for the growth phase, the bigger players have started offering product variants (e.g. Chobani champions for kids). Most brands are now available in grocery stores; initially they were available only at a few grocery stores like Whole Foods and Trader Joe’s …2. Jack Welch famously said* ‘Shun the incremental; go for the quantum leap’; the quantum leap being what is commonly referred to as ‘radical’ innovation.Which option do you think is better for a company today — radical (discontinuous) or incremental (continuous) innovation? Explain your answer and illustrate with real-life examples. FYI, there are no ‘absolute’ right or wrong answers, but you need to justify your answer.Note: Also watch the first 8.15 minutes of this talk: https://www.ted.com/talks/charles_leadbeater_the_era_of_open_innovation
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