Question

Marketing Lemonade Worksheet Scenario Your team is looking for a way to make some revenue as either a for-profit or not-for-profit organization. This organization can market locally, nationally, or internationally, and can be a privately-owned company or a franchised organization. The product that you have decided to sell is lemonade. To make the endeavor work, you will have to define a marketable form of the drink and decide on a target market. Your marketing team's mission is to prove through research, strategy development, and reasoning why this form of this product is viable and will meet the company's goals. In the first half of this project, your team will complete this worksheet to report on the following: • Target market • Product’s definition to the target market • Viable pricing strategy • Brand's position in the competitive environment Complete the Following 1. Select a company name and determine the real business world industry of operation. Company Name Industry of Operation Phoenix Lemonade, Inc. A family owned corporation that distributes their lemonade varieties to various locations across the United States. You can find their brands anywhere from supermarkets to Gas Stations. Their mission is to provide unique flavors of lemonade that will stand out from their competitors.

Please respond to the Following question:

1. Discuss the maturity life cycle stages of your product in no more than 90 words for each stage.

Stage of Product Life Cycle	Discussion

Answer 1

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Discuss in no more than 90 words the maturity life cycle stages of your product.

Stage of product Life Cycle	Discussion
Introduction stage-	This is the first stage of our product's life cycle. In this stage, we introduced our lemonde product in the market for the first time. In this stage, the sales growth is low as consumers do not know much about new product.In this stage, we create demand for our lemonade by investing on marketing and promotion. We will do TV advertising and posters to many location as possible. We will sell sample to customers to try our lemonade so that they can make purchase and tell others as well.
Growth stage-	This is the second stage of our product's life cycle. In this stage, We will see that customers starting to know about our lemonade and its variety of flavors. The demand start to increase. In this stage, we find that there is rise in profit and revenue of our company.In this stage, we would increase distribution of our lemonade to as many location as possible. In this stage, sales volume, public awareness and profitability increases.
Maturity stage-	This is the third stage of our product's life cycle. In this stage, we find that sale of our lemonade product is at peak or saturated. This means there are other competitors and sale is not rising any more. The product start to move towards decline phase.In this stage, we lower prices to fight off competition. We increase our promotion efforts and find new target market.
Decline stage-	This is the last stage of our product's life cycle. This is the stage where product is dead with less or not demand at all. In this stage, sales, profit declines while competition is high.In this stage, we take step of reposition and modify our lemonade product. we can do that by changing packaging of lemonade. we can make lemonade in different size and flavors. This will help our product to get back on track.

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