MK430 Product Life Cycle Management (3 cr.)
This course focuses on managing products and services throughout their life cycles. Topics include product and service opportunity identification; new product and service innovation, development, design, and idea testing; and development team management. Product and service launching strategies, pricing approaches, and promotional techniques are explored. Also discussed are branding concepts and brand management strategies.
Upon completion of this course, students are expected to be able to do the following:
- Examine the processes and strategies used to manage products, product lines, and services throughout the entire course of their life cycles.
- Identify product attributes that marketers must consider, including product designs and features, packaging, product variety and quality, and brand names.
- Identify service attributes that marketers must consider, including service intangibility, inseparability, and perishability.
- Explain how new products and services are developed and tested, and discuss how product development teams play an integral role in bringing these offerings to market.
- Examine product and service branding strategies, and discuss the importance of branding for establishing a competitive advantage.
- Evaluate various product development strategies to include line extensions, brand extensions, and multibranding.
- Recognize the pricing and promotional approaches used in product management initiatives.
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