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A typical product life cycle has four main phases: introduction, growth, maturity, and decline.
Required:
Twelve products are listed below. Match these products to the stage they have probably reached in their life cycle, by filling in the following table.
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Gbenga Alimi wants to establish a fast food restaurant in Koko, a state in Naijaland. A well-known global fast-food outfit in Naijaland has agreed to give him a franchise to operate the business in the state. However, the franchisor has requested Gbenga to present a viable business plan for assessment.
Required:
a. Outline the contents of a business plan addressing the proposed franchise’s viability. (20 Marks)
b. Use a graphical representation to educate Gbenga on the four stages of the classical product life cycle. (6 Marks)
c. Within an organizational context, distinguish between:
i. Narrow and wide stakeholders
ii. Active and passive stakeholders
(4 Marks)
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Bascon Foods Plc is a producer of fast-moving consumer goods in Nigeria. Since it commenced business in 1960, the company has been providing Nigerians with high-quality food products, such as cereals, cocoa beverages, confectioneries, and soaps, all at competitive prices. The following product brands consistently command 10% of the market share in their segments: Bascon Cornflakes, Bascovite Chocolate Beverage, Rave Cream Soap, and Bascon Digestive Biscuits, which have all become household names among Nigerian consumers.
In 2021, the company launched Rave Ice Cream as part of its growth strategy through diversification in response to the increasing demand for ice cream. Unfortunately, a year after its launch, sales have been very low, with Bascon Foods Plc struggling to break even on this product line. The ice cream market is reportedly growing at a rate of 5%, but the market share for Rave Ice Cream is under 0.5%.
Additionally, Bascon Cornflakes, the company’s flagship product, saw a significant annual sales decline of 5% from 2019 to 2021. This decline is partly due to intense competition, with a major global brand, Nekloggs, entering the Nigerian market. The current market share for Bascon Cornflakes is 2% in a market growing at 16%. Conversely, Bascovite Chocolate Beverage has consistently experienced a 6% annual sales growth from 2016 to 2021. The chocolate beverage market is reportedly growing at an annual rate of 8%. Market shares for Rave Cream Soap and Bascon Digestive Biscuits have remained steady over the past seven years at 5%, with a 7% growth rate in both markets. Profits from Bascovite Chocolate Beverage, Bascon Digestive Biscuits, and Rave Cream Soap have been stable and high. Despite the challenges, all brands, except Rave Ice Cream, maintain dominant positions in their respective markets, all of which are fast-growing.
The Board of Directors of Bascon Foods Plc is considering outsourcing non-core activities as a cost-saving strategy across all product lines. The proposed outsourcing strategy is expected to reduce costs and help Bascon become a low-cost producer of household food items.
Required:
As a consultant to Bascon Foods Plc, advise the company’s management on:
a. The position of each of Bascon Food Plc’s products in the product lifecycle.
(10 Marks)
b. The appropriate strategy for each of Bascon Foods Plc’s product brands, using the life-cycle portfolio matrix.
(5 Marks)
c. The classification of each product within the Boston Consulting Group (BCG) model.
(10 Marks)
d. Suggested strategies for each classification identified in part (c).
(5 Marks)
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Tadesco Limited manufactures Compact Disks. It is planning to introduce a new model and production will begin very soon. It expects the new product to have a life cycle of three years and the following costs have been estimated.
You are required to:
a. Explain Life Cycle Costing and state what distinguishes it from traditional costing technique. (10 Marks)
b. Calculate the cost per unit over the whole life cycle and comment on the price to be charged. (10 Marks)
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Ben John (BJ) Limited produces light fittings, known for their constant design innovation and short product market life cycle. The company launched the new product using a market skimming pricing policy. Explain, with reasons, the likely changes that will occur in the unit selling price and unit production costs of the product as it moves through each of the four stages of its product life cycle:
a. Introduction;
b. Growth;
c. Maturity;
d. Decline.
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Every product is said to go through a life cycle that has been classified into four stages. Therefore, in an attempt to reap the maximum benefits from a product or service, the marketer periodically determines the stage of the product/service in the life cycle to devise the appropriate strategies in that direction.
Required:
Explain FOUR (4) stages of a product life cycle. (10 marks)
Find Related Questions by Tags, levels, etc.
A typical product life cycle has four main phases: introduction, growth, maturity, and decline.
Required:
Twelve products are listed below. Match these products to the stage they have probably reached in their life cycle, by filling in the following table.
Products:
Table:
| Introduction | Growth | Maturity | Decline |
|---|---|---|---|
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
A typical product life cycle has four main phases: introduction, growth, maturity, and decline.
Required:
Twelve products are listed below. Match these products to the stage they have probably reached in their life cycle, by filling in the following table.
Find Related Questions by Tags, levels, etc.
Gbenga Alimi wants to establish a fast food restaurant in Koko, a state in Naijaland. A well-known global fast-food outfit in Naijaland has agreed to give him a franchise to operate the business in the state. However, the franchisor has requested Gbenga to present a viable business plan for assessment.
Required:
a. Outline the contents of a business plan addressing the proposed franchise’s viability. (20 Marks)
b. Use a graphical representation to educate Gbenga on the four stages of the classical product life cycle. (6 Marks)
c. Within an organizational context, distinguish between:
i. Narrow and wide stakeholders
ii. Active and passive stakeholders
(4 Marks)
Find Related Questions by Tags, levels, etc.
Bascon Foods Plc is a producer of fast-moving consumer goods in Nigeria. Since it commenced business in 1960, the company has been providing Nigerians with high-quality food products, such as cereals, cocoa beverages, confectioneries, and soaps, all at competitive prices. The following product brands consistently command 10% of the market share in their segments: Bascon Cornflakes, Bascovite Chocolate Beverage, Rave Cream Soap, and Bascon Digestive Biscuits, which have all become household names among Nigerian consumers.
In 2021, the company launched Rave Ice Cream as part of its growth strategy through diversification in response to the increasing demand for ice cream. Unfortunately, a year after its launch, sales have been very low, with Bascon Foods Plc struggling to break even on this product line. The ice cream market is reportedly growing at a rate of 5%, but the market share for Rave Ice Cream is under 0.5%.
Additionally, Bascon Cornflakes, the company’s flagship product, saw a significant annual sales decline of 5% from 2019 to 2021. This decline is partly due to intense competition, with a major global brand, Nekloggs, entering the Nigerian market. The current market share for Bascon Cornflakes is 2% in a market growing at 16%. Conversely, Bascovite Chocolate Beverage has consistently experienced a 6% annual sales growth from 2016 to 2021. The chocolate beverage market is reportedly growing at an annual rate of 8%. Market shares for Rave Cream Soap and Bascon Digestive Biscuits have remained steady over the past seven years at 5%, with a 7% growth rate in both markets. Profits from Bascovite Chocolate Beverage, Bascon Digestive Biscuits, and Rave Cream Soap have been stable and high. Despite the challenges, all brands, except Rave Ice Cream, maintain dominant positions in their respective markets, all of which are fast-growing.
The Board of Directors of Bascon Foods Plc is considering outsourcing non-core activities as a cost-saving strategy across all product lines. The proposed outsourcing strategy is expected to reduce costs and help Bascon become a low-cost producer of household food items.
Required:
As a consultant to Bascon Foods Plc, advise the company’s management on:
a. The position of each of Bascon Food Plc’s products in the product lifecycle.
(10 Marks)
b. The appropriate strategy for each of Bascon Foods Plc’s product brands, using the life-cycle portfolio matrix.
(5 Marks)
c. The classification of each product within the Boston Consulting Group (BCG) model.
(10 Marks)
d. Suggested strategies for each classification identified in part (c).
(5 Marks)
Find Related Questions by Tags, levels, etc.
Tadesco Limited manufactures Compact Disks. It is planning to introduce a new model and production will begin very soon. It expects the new product to have a life cycle of three years and the following costs have been estimated.
You are required to:
a. Explain Life Cycle Costing and state what distinguishes it from traditional costing technique. (10 Marks)
b. Calculate the cost per unit over the whole life cycle and comment on the price to be charged. (10 Marks)
Find Related Questions by Tags, levels, etc.
Ben John (BJ) Limited produces light fittings, known for their constant design innovation and short product market life cycle. The company launched the new product using a market skimming pricing policy. Explain, with reasons, the likely changes that will occur in the unit selling price and unit production costs of the product as it moves through each of the four stages of its product life cycle:
a. Introduction;
b. Growth;
c. Maturity;
d. Decline.
Find Related Questions by Tags, levels, etc.
Every product is said to go through a life cycle that has been classified into four stages. Therefore, in an attempt to reap the maximum benefits from a product or service, the marketer periodically determines the stage of the product/service in the life cycle to devise the appropriate strategies in that direction.
Required:
Explain FOUR (4) stages of a product life cycle. (10 marks)
Find Related Questions by Tags, levels, etc.
A typical product life cycle has four main phases: introduction, growth, maturity, and decline.
Required:
Twelve products are listed below. Match these products to the stage they have probably reached in their life cycle, by filling in the following table.
Products:
Table:
| Introduction | Growth | Maturity | Decline |
|---|---|---|---|
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
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