Apply marketing core standards to the development, production, and marketing of a new product and/or service.

Application should include the use of management decisions, distribution, pricing, promotion, selling, and marketing information management to launch a new product and/or service.

Process/Skill Questions:

• How is shelf life related to profit?
• How does a product’s stage in the life cycle affect decisions in terms of promotion, pricing, and distribution?
• What life-cycle considerations should be evaluated when developing a new product?
• Why is selling a critical step in introducing a new product? Why is promotion a critical step in introducing a new product?