Essentials of Marketing 7th Edition by Charles Lamb,Joe Hair,Carl McDaniel

Exercise 9

Explain the concept of product life cycles. All brands and product categories undergo a life cycle with four stages: introduction, growth, maturity, and decline. The rate at which products move through these stages varies dramatically. Marketing managers use the product life cycle concept as an analytical tool to forecast a product's future and devise effective marketing strategies. What is Cheerios doing to compete successfully in the maturity stage? Go to its Web site (www.cheerios.com) to find out.