Describe a current product (good or service) you believe has entered the Decline Stage of the Product Life Cycle.

Issue 1.

Describe a current product (good or service) you believe has entered the Decline Stage of the Product Life Cycle. What factors caused it to go into decline? Can you think of any change in the 4Ps that might allow the life of the product to be extended?

Issue 2.

Of all the promotional tools we looked at, which one is the most effective in getting your attention and interesting you in a product? Conversely, which of the tools is something that has a slim to zero chance of reaching you, much less interesting you?

Issue 3.

Keeping the Fundamental Accounting Equation in mind (Assets = Liabilities + Equity), categorize the items below into the proper category to create a simple balance sheet. Please provide the balance sheet in its entirety, not just the answer to the equation.

Equipment

250000

Accounts Payable

50000

Cash

25000

Loans Payable

225000

Buildings

400000

Retained Earnings

830000

Land

125000

Accounts Receivable

150000

Inventory

155000

Issue 4.

Surfer Brad has decided to sell custom surfboards. He was able to rent a workshop/garage in an industrial park for $3,000 a month, which includes all utilities, and he already owns the equipment and tools he needs. He anticipates being able to sell his boards for $800 each. The raw materials (foam, fiberglass, etc.) will cost an average of $200 for each board, and he plans to spend $100 sales commission per board to the surf shops who have agreed to sell them to the public.

Assuming these are all the costs and revenues, what will be Brads monthly break-even point in units? Does this seem like a reasonable amount for him to produce and sell every month? Please show your calculations.

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