Product Life Cycle - Chain of linked events



Sample Exercises for use with Graphic Organisers

Exercise 1: Product Life Cycle - Chain of linked events

Arrange these stages in the correct order on the chain

Saturation

Decline

Introduction

Maturity

Growth

Write the correct explanation under each stage in the chain

If a new product is successful sales grow quickly as a result of advertising and sales promotion. Many consumers wish to have this latest product as it becomes known and popular.

The product is now quite well known and in common use. Most consumers that want one have one. Consumers are beginning to look towards new products. The price drops and sales revenues begin to decline

The new product is introduced to the market. There is usually a major promotion campaign to get consumers to know about the product. Initial sales begin to as consumers get to know of the products existence

New improved products are introduced to the market and competitors begin to develop new products so sales of the old product start to decline as it reaches the end of its life cycle.

The rate of growth levels off. Sales are steady but are not increasing. Sales continue to remain high but they have stopped growing

Exercise 2: Recruitment

Arrange these stages in the correct order on the ladder above

Shortlist

Job description

Interview

Person Specification

Induction training

Job advertisement

Selection

Write the correct explanation beside each step on the ladder

The new employee is introduced to the company and is given initial training in how to carry out the duties involved in the new job.

Those kept on the shortlist are invited to interview where they will be asked questions to determine which candidate has the best skills and is most suitable for the job.

Describes the skills, qualities and qualifications that the candidate needs to have to be considered for the job.

Combines the Job Description and Person Specification and places them in Newspapers, Journals, Noticeboards, Websites etc where they will be seen by those interested in applying for the job.

Describes all the duties and responsibilities attaching to the job. It clarifies for employees what the job entails

If a large number of candidates apply some are eliminated on the basis of their application forms. They receive letters of refusal without being called to interview.

The best candidate for the job is chosen by the interviewer after the interview has been completed.

Exercise 3: Stages in Developing a New Product or Service

Prototype development

Concept Development

Market testing

Screening

Idea Generation

Full scale Launch

Feasibility Study

Test Marketing

This step involves market research to test consumer reaction to the product. Potential sales, costs and possible profits need to be examined to see if it is possible to make a profit from the venture The best ideas that have most potential for success are kept and the others are screened out and discarded.

All good ideas need to be transformed into reality. This is called concept development. The product / service needs to be able to satisfy consumer needs at a realistic price and with satisfactory quality.

Full scale manufacture and sales begin if test marketing has been successful. Advertising and sales promotion campaigns accompany the launch

A business needs to regularly develop new ideas to satisfy consumer needs. There are many ways to generate ideas. Some methods are internal to the company - Brainstorming , Research and Development, Salespersons reports; others are external – Competitors ideas, Foreign travel, Customer complaints

One unit of the product needs to be manufactured so that it can be test marketed. Potential problems come to light at this stage, costs are finalized and selling price is decided.

A small number of products are manufactured in one production run. These are then tested on the market. Final decisions re the 4 p’s are made at this stage.

Exercise 4: Industrial Relations – Dispute Resolution

Steps in Resolving Industrial Relations Disputes – Arrange these steps in order from the first step to be taken to the final stage.

Labour Court, Employment Appeals Tribunal

Senior management negotiates with Union HQ

Disputant negotiates with immediate Supervisor

Shop Steward negotiates with immediate manager

Labour Relations Commission, Rights Commissioner, Equality Officers

Match each explanation with the term above

A dispute should be resolved in the first place by negotiation if possible with ones immediate supervisor whether it is a dispute involving all workers or an individual worker

Workers approach the shop steward to resolve a dispute if they have been unsuccessful in attempts to negotiate a solution with their immediate supervisor.

Shop steward negotiates with management in an attempt to resolve a dispute

Senior Management negotiate with Union Head Office to find a resolution to a dispute

The dispute is referred to the Labout Relations Commission if it involves all workers of a large group of workers. It is referred to a Rights Commissioner if it involves one worker or a small group of workers. It is referred to an Equality Officer if it involves equality issues.

The dispute is referred to The Labour Court if it has not been resolved at an earlier stage. The Labour Court decision is binding. If an individual feels that their statutory employment rights have been infringed they may take their case to the employment Appeals Tribunal Its decision is binding.

Exercise 5: Conflict Resolution

Place the term Negotiation, Conciliation, Arbitration beside the relevant step

Negotiation

The parties to the dispute sit down together and attempt to resolve their dispute

Conciliation / Mediation

A third party (an outside person) sits with the disputing parties and helps them to resolve their dispute. Responsibility for resolving the dispute rests with the disputing parties. The conciliator dose not impose a solution

Arbitration

A third party (a Judge) listens to both sides of the dispute and makes a binding decision / Recommendation for resolution. Decisions of the Labour Court are not legally binding, they are binding in the sense that both parties agree to be bound by the decision before the Labour Court agrees to hear the case. Decisions of the Employment Appeals Tribunal are legally binding.

Internal

Dispute is resolved within the company

External

Dispute is taken to a body outside the company for resolution

Legislative Resolution

When a Statutory body is used to resolve the dispute and/or when a law is relied on to resolve the dispute

Non Legislative

When the dispute is resolved voluntarily without recourse to any law or Statutory body

Exercise 6:

Stairs can also be used to teach the Steps involved in Forming a Company

More able students can be given a blank graphic organiser for completion without any prompting information. Less able students can be given prompting information. In this way, differentiation is taking place.

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Graphic Organiser Sample Exercises

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