# CTE Resource Center - Verso - Digital and Social Media Marketing Task 1522831662

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Explain the product life cycle and the importance of developing new products/services to stay competitive.

Definition

Explanation should include
  • the four stages (e.g., introduction, growth, maturity, and decline) through which products/services move
  • reasons why the development and modification of new products/services are essential to meet consumer needs and wants (demand)
  • reasons why the product life cycle ensures ongoing demand for new products/services.

Process/Skill Questions

  • What are the stages of the product life cycle? What happens to price and profits during each stage of the product life cycle?
  • How do marketing costs incurred in each stage of the product life cycle vary?
  • Why is it essential to continually develop and modify products and services?
  • How can technology developments impact the product life cycle?
  • How do marketing strategies differ in each stage of the product life cycle?
  • What digital marketing strategies may be helpful during each stage of the product life cycle?

Related Standards of Learning

English

9.5

The student will read and analyze a variety of nonfiction texts.
  1. Recognize an author’s intended purpose for writing and identify the main idea.
  2. Summarize text, relating supporting details.
  3. Understand the purpose of text structures and use those features to locate information and gain meaning from texts.
  4. Identify characteristics of expository, technical, and persuasive texts.
  5. Identify a position/argument to be confirmed, disproved, or modified.
  6. Evaluate clarity and accuracy of information.
  7. Analyze and synthesize information in order to solve problems, answer questions, or complete a task.
  8. Draw conclusions and make inferences about explicit and implied information using textual support as evidence.
  9. Differentiate between fact and opinion.
  10. Organize and synthesize information from sources for use in written and oral presentations.
  11. Use reading strategies to monitor comprehension throughout the reading process.

10.5

The student will read, interpret, analyze, and evaluate nonfiction texts.
  1. Identify text organization and structure.
  2. Recognize an author’s intended audience and purpose for writing.
  3. Skim manuals or informational sources to locate information.
  4. Compare and contrast informational texts.
  5. Interpret and use data and information in maps, charts, graphs, timelines, tables, and diagrams.
  6. Draw conclusions and make inferences about explicit and implied information, using textual support as evidence.
  7. Analyze and synthesize information in order to solve problems, answer questions, and generate new knowledge.
  8. Use reading strategies throughout the reading process to monitor comprehension.

11.5

The student will read and analyze a variety of nonfiction texts.
  1. Use information from texts to clarify understanding of concepts.
  2. Read and follow directions to complete an application for college admission, for a scholarship, or for employment.
  3. Generalize ideas from selections to make predictions about other texts.
  4. Draw conclusions and make inferences about explicit and implied information, using textual support.
  5. Analyze two or more texts addressing the same topic to identify authors’ purposes and determine how authors reach similar or different conclusions.
  6. Identify false premises in persuasive writing.
  7. Recognize and analyze use of ambiguity, contradiction, paradox, irony, overstatement, and understatement in text.
  8. Generate and respond logically to literal, inferential, evaluative, synthesizing, and critical-thinking questions before, during, and after reading texts.

12.5

The student will read and analyze a variety of nonfiction texts.
  1. Generate and respond logically to literal, inferential, evaluative, synthesizing, and critical-thinking questions before, during, and after reading texts.
  2. Analyze and synthesize information in order to solve problems, answer questions, and generate new knowledge.
  3. Analyze two or more texts addressing the same topic to identify authors’ purposes and determine how authors reach similar or different conclusions.
  4. Recognize and analyze use of ambiguity, contradiction, paradox, irony, overstatement, and understatement in text.
  5. Identify false premises in persuasive writing.
  6. Draw conclusions and make inferences about explicit and implied information, using textual support.

History and Social Science

GOVT.15

The student will apply social science skills to understand the role of government in the Virginia and United States economies by

  1. describing the provision of government goods and services that are not readily produced by the market;
  2. describing government’s establishment and maintenance of the rules and institutions in which markets operate, including the establishment and enforcement of property rights, contracts, consumer rights, labor-management relations, environmental protection, and competition in the marketplace;
  3. investigating and describing the types and purposes of taxation that are used by local, state, and federal governments to pay for services provided by the government;
  4. analyzing how Congress can use fiscal policy to stabilize the economy;
  5. describing the effects of the Federal Reserve’s monetary policy on price stability, employment, and the economy; and
  6. evaluating the trade-offs in government decisions.

Other Related Standards

National MBAResearch Standards-Marketing

Acquire a foundational knowledge of product/service management to understand its nature and scope.

 

Generate product ideas to contribute to ongoing business success.