Learning Team Deliverable
MKT/571
April 7, 2014
Dr. Scott Goldberg

Week 3 Learning Team Objective
Marketing today requires organizations to adapt to customer’s needs, rather than the needs of the firm. An important role in marketing today is the Product Life Cycle stages, which brings an understanding that products have a limited lifespan. This makes new product development important to ensure their business continues to grow.
Product Mix
Product mix, also known as product variety, is an example of the total number of lines that a company offers to its customers. For example, a small company may sell multiple lines of products. Other times, the product lines are vastly different, such as diapers and razors. The four dimensions to a company's product mix include width, length, depth, and consistency (Suttle, 2014).
In determining product mix, an organization's product determines the comparable quantity of every product it provides. Some organizations may generate an equal percentage of every goods created in demand to its consumers. When an organization wants to expand profits by establishing an ideal product mix to benefit from, it is essential to promote different production effectiveness and satisfy consumer's desires.
The most lucrative way to expand a business is with logical product extensions. All products should be an extension of an existing market and be something that will sell to an existing customer base. It should be an extension of an existing expertise and fit into an existing product or service mix (Tracy, 2004).

Product life cycle
The product life cycle starts with the product design and ends with the declination of the product from the market. Therefore we divide the product life into four main stages. Each stage is linked with changes in the flows of raw materials, parts, and distribution. * Introduction Stage – This