The Life Cycle of Marketing Principles

The Marketing principles class at Western Technical College teaches you about the Product life cycle and how a new product goes through the four phases of the cycle; introduction, growth, maturity, and decline.images

From there you learn about the new product development process and then to branding, packaging, and labeling. The class also covers the marketing mix (four P’s) which is a business tool that marketers use in marketing to determine a product or brand’s offer.

  • Product
  • Price
  • Place
  • Promotion

The 5 C’s in marketing help find situation analysis in an environment that are applicable to the marketing decisions. It covers the internal, the micro-environmental, and the macro-environmental situation.

  • Company
  • Customers
  • Competitors
  • Collaborators
  • Climates

Then throughout the class you will participate in a simulation where you create and design a backpack and try to sell it to different target markets.

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