Where is this item in the Product Life Cycle and what does that imply about the marketing decisions you will need to make?

Think of something you bought recently that you had to think a little about . Discuss all the things you received when you bought this item. Ultimately, what were you really buying when you bought this item? Where is this item in the Product Life Cycle and what does that imply about the marketing decisions you will need to make? Finally, discuss what might be the next product that this firm might develop, and how that might fit into their strategy.