In marketing terms, anything a business sells is deemed as a product. Your unit assignment is to complete a product lifecycle chart, showing where your business is in the development process and what the next steps are for implementation. I expect most of the businesses in this class will be in the very early stages. I assign this so you can see the big picture of the market you’re dealing with. These business stages are very real for a small business or a large corporation. Here are the basic steps you need to follow:
1. Review the business lifecycle and the capital lifecycle graphics. Understand the correlation between the two. Imagine the capital lifecycle as a layer on top of the business lifecycle.
2. Complete a business lifecycle chart for your business. This can also be known as a commercialization roadmap. I’m providing you with two tools to do this. Reference the expanded commercialization roadmap to see the big picture of each stage. Use the simple roadmap as a template to input your own data.
Section 2 Read Wilson County Hospital- answer the two question on the bottom of the page