My classmate highlighted relevant issues concerning Indiana University such as it offering the quality education system to the undergraduates, graduates and even lifelong learners. My classmate also noted that quality education has seen the university having a steady increase of students enrolling in their freshman year of college thus increasing the sales of the marketing. With all these, product life-cycle is manifested and to be precise the growth stage of product life-cycle is portrayed. However, my classmate could have better demonstrated critical thinking in this case when he pointed out that the raised tuition fees with an increase of 1.5% can lead to customers especially the early adopters withdrawing from the university services. Growth stage of the product life-cycle requires a business to keep its prices at a reasonable customer level price to maintain the sales growth (Galli & Kaviani, 2017). The high increase in tuition fees may advocate for the customers to select other colleges for higher learning.
According to my classmate's post, Ascension St Vincent is still at the growth stage of product life-cycle in its online patient service since its sales are increasing, costs are average, profits are growing, and competitors are resurfacing. Despite all these, Ascension St Vincent is facing high competition from other online patient portal services that have increased radio and television advertisements for their services. In this case, my classmate could have better demonstrated critical thinking in this post by highlighting that Ascension St Vincent online patient portal service can incorporate other marketing strategies that would enhance it to outshine its competitors and eventually graduating to maturity stage of the product life-cycle. This will require Ascension St Vincent business to be more responsive to the customers' needs and expectations. Further, instead of the Ascension St Vincent to frequently involve their patients via the online services, it would be better for them to once in a while offer their services personally to their patients and use the face-to-face forum to get views and feedback from their patients. This will readily expand the customer care relations making Ascension St Vincent business outshine their customers and graduate the business to maturity stage of the product life-cycle response (Rabetino, Kohtamaki, Lehtonen, & Kostama, 2015).
Galli, B. J., & Kaviani, M. A. (2017). Are project management and project life cycles affected by marketing and new product development? The Journal of Modern Project Management, 5(1). https://www.journalmodernpm.com/index.php/jmpm/article/view/247
Rabetino, R., Kohtamaki, M., Lehtonen, H., & Kostama, H. (2015). Developing the concept of life-cycle service offering. Industrial Marketing Management, 49, 53-66. https://www.sciencedirect.com/science/article/abs/pii/S0019850115002023?via%3Dihub
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