Strategic Marketing: Product Portfolio and Product Lifecycle Management
Assessment Task
"Most organisations offer more than one product or service.....The advantage here is that the various products - the product portfolio - can be managed so that they are not all in the same phase in their life cycles. Having products evenly spread across life cycles allows for the most efficient use of both cash and human resources."
Hollensen, S. (2015) Marketing Management: A relationship approach. 3rd ed. Harlow Pearson p257.
By reference to academic literature, explore the concept of the product portfolio and product lifecycle management, using appropriate industry examples to demonstrate learning and application.
Indicate how a company could apply the concepts, making generic recommendations.
Produce an essay or business report that demonstrates the understanding of key aspects of Strategic Marketing.
The report should have:
- A sound theoretical and conceptual perspective, containing evidence of critical debate within an appropriate academic literature. A minimum of 8 academic journal articles should be referred to.
- An effective practical foundation, which makes generic management recommendations.
- Figures & graphs
- Analytical
The work should be in essay format and be 3000 words, +/- 10%.
- TITLE /COVER PAGE
- EXECUTIVE SUMMARY
- TABLE OF CONTENTS
- INTRODUCTION
- PRODUCT LIFECYCLE MANAGEMENT
- PORTFOLIO MANAGEMENT
- BOSTON CONSULTING GROUP MATRIX
- GENERAL ELECTRIC-MCKINSEY MATRIX
- PLM AND PORTFOLIO MANAGEMENT INDUSTRY EXAMPLES
- RECOMMENDATIONS
- CONCLUSION
Specific skills-
- Synthesize complex organizational based information, together with dynamic external data into effective marketing lead planning strategies.
- Create an implementation plan, by which the marketplace strategy may be made effective
Key Skills-
- Demonstrate an ability to work effectively in a leadership role in order to carry out marketing tasks linking theory to practice
- Make discriminating use of a range of learning resources in order to solve organizational marketing related problems.
- Communicate the solutions arrived at, and the thinking underlying them, in verbal and written form.