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The stages of the product life cycle are
(1) opportunity recognition, concept testing, production, market acceptance, brand insistence, and obsolescence.
(2) production, inventory, exchange, usage, and disposal.
(3) conception, testing, production, commercialization, and obsolescence.
(4) introduction, growth, maturity, and decline.
Mini-Case
Gourmet Pets is an innovative competitor in the billion-dollar pet food industry. In fact, two of its products, Kitty Sirloin and McDog T-bone, each claim over a 30% share in their market segments. The company has done detailed research and discovered that, for a growing number of pet owners, the family pet serves as a baby substitute. These owners tend to pamper their pets, and are very discriminating in what they purchase. With this in mind, the company has put a
great deal of effort into developing a new dog food: Prime Cuts. The new product is packaged in a resealable, microwaveable container and can be purchased in a variety of flavors (including Western BBQ, Teriyaki, Australian Outback, and Hickory Smoked). Gourmet Pets promotes the product as far superior to "average" dog foods, even though the quality of meat and nutrient content of the food are virtually identical to many other brands. The company faces no competition in this market segment so it
plans to charge a high price for the product.
Prime Cuts was the brainchild of Karen Terrier who guided all the marketing efforts of the product. She selected each element of the marketing mix such as the package, brand name, pricing, promotion, and placement decisions. Karen obviously serves in the job of
Select one:
a. marketing consultant.
b. brand manager.
c. operations analyst.
d. marketing intermediary.