Complete the following exercises to continue building your strategic marketing plan for Part 3-Product Decisions. (See Marketing Planning Worksheet, Part 3, on your companion Web site at www.cengage.com/marketing/lamb.) You should also refer to Appendix I of Chapter 2 for additional marketing plan checklist items (Marketing Mix-Product).

1. Place your company's product in the appropriate stage of the product life cycle. What are the implications of being in this stage? Would the PLC be lengthened, shortened, or not affected by selling your product or service online? Would selling your offering on the Internet make it seem earlier on the PLC to your customers? Why?

2. What categories of adopters are likely to buy your company's products? Is the product diffusing slowly or quickly throughout the marketplace? Why? What elements of the diffusion process can you control to make sure your offering diffuses more quickly throughout the adopter categories and marketplace in general? Will positive word-of-mouth be easier or harder to generate online?