| Full lesson | Create for a teacher a set of content for giving a lesson, beginning with the lesson plan. Each new block of materials must begin with an H1 heading (other subheaders must be H2, H3, etc). When you describe required pictures, write those descriptions in curly brackets, for example: {A picture of a triangle} |
| Which subject | Business |
| What topic | product life cycle and new product development |
| What length (min) | 90 |
| What age group | Year or Grade 11 |
| Class size | 20 |
| What curriculum | |
| Include full script | |
| Check previous homework | |
| Ask some students to presents their homework | |
| Add a physical break | |
| Add group activities | |
| Include homework | |
| Show correct answers | |
| Prepare slide templates | |
| Number of slides | 5 |
| Create fill-in cards for students | |
| Create creative backup tasks for unexpected moments |
Business
Product Life Cycle and New Product Development
Year/Grade 11
90 minutes
20 students
| Step Number | Step Title | Length | Details |
|---|---|---|---|
| 1 | Introduction to Topic | 10 min | Introduce the concept of the product life cycle, its stages, and significance in business. Use a quick overview presentation. |
| 2 | Explanation of Stages | 20 min | Discuss each stage of the product life cycle: Introduction, Growth, Maturity, and Decline. Use examples from popular products. |
| 3 | Case Study Analysis | 15 min | In groups, analyze assigned case studies of products in different life cycle stages. Discuss findings within each group. |
| 4 | Group Task | 20 min | Groups create a visual presentation (using chart paper) depicting a product life cycle for a product of their choice. Each group will present their work briefly. |
| 5 | Break and Physical Activity | 10 min | Conduct a short physical activity (e.g., stretching or a quick game) to refresh students. |
| 6 | New Product Development Discussion | 10 min | Discuss the process of new product development and the importance of market research. Introduce concepts like idea generation and screening. |
| 7 | Summary and Homework Assignment | 5 min | Summarize key concepts covered in the lesson. Assign homework: write a short report on a product’s life cycle or a new product development idea. |
This lesson aligns with the national curriculum standards for Business Education, focusing on marketing principles, product management, and teamwork skills.
Encourage students to consider products in their everyday lives for case studies and presentations, fostering personal engagement with the topic.
"Good morning, everyone! Today, we are going to dive into an exciting topic: the Product Life Cycle and New Product Development. Understanding the product life cycle is crucial for any business as it helps in strategizing marketing efforts at each stage of a product’s journey. Let’s start with a brief presentation that outlines the concept and significance of the product life cycle."
(Show the presentation on the screen, providing an overview of the stages: Introduction, Growth, Maturity, and Decline. Afterwards, invite students to ask any questions regarding the basic concepts.)
"Now, let's explore each stage of the product life cycle in detail. First up is the Introduction stage. Can anyone share what they imagine happens when a new product is launched?"
(Allow for responses, then clarify with examples of products during their introduction stage, such as the latest smartphone or electric car.)
"Next, we have the Growth stage. In this phase, sales begin to rise and the product gains market acceptance. Can you think of any common products that have experienced significant growth?"
(Encourage participation and provide examples like streaming services.)
"Following that, we have the Maturity stage. Here, the market becomes saturated, and sales level off. What products can you think of that might be in this stage?"
(Discuss established brands like Coca-Cola or traditional television.)
"Finally, we reach the Decline stage. Can anyone think of products that are no longer popular?"
(Discuss examples such as VHS tapes or certain outdated tech.)
"Excellent! This discussion leads us to understand how important it is to recognize where a product stands in its life cycle for effective branding and marketing strategies."
"Now, I’d like you to break into your assigned groups. Each group has a case study of a product at a different stage of the product life cycle. Spend the next 15 minutes analyzing the case study together."
(Distribute handouts with case studies and give students time to discuss. Circulate around the room to assist where needed.)
"Okay, time’s up! Let’s hear what each group discovered. Please summarize your case and explain in which stage of the life cycle the product resides and why."
(Encourage each group to share and discuss their findings with the class.)
"Great work on the case studies, everyone! Now, I want you to shift gears and work on a fun group task. I want each group to create a visual presentation on chart paper. You will pick a product of your choice and depict its entire product life cycle. Be sure to include examples, illustrations, and anything else that might help convey your ideas effectively. You’ll have 20 minutes for this activity."
(Provide materials and monitor the groups as they work, offering guidance as necessary.)
"Alright everyone, let’s wrap this group work up. Each group will come forward and present your product and the life cycle you’ve mapped out. Please keep your presentations to about 3 minutes each."
(After each group presents, encourage class discussion and questions.)
"Excellent presentations, everyone! It’s time for a quick break. Let’s get up and move around a bit to refresh our minds. We’ll do some stretching exercises together."
(Lead the class in a few simple stretches or a quick interactive game to energize them. After a few minutes...)
"Alright, feeling more awake? Let’s get back to learning!"
"Now, let’s shift our focus to New Product Development. This process is essential for businesses to stay competitive and meet market demands. What comes to mind when you hear ‘new product development’?"
(Encourage student input and clarify with concepts like idea generation, market needs assessment, and screening.)
"Understanding how to develop a new product effectively involves iterative testing and market research. Remember, we’re always aiming to solve a problem or fulfill a need in the marketplace. Let’s talk about some recent innovations you’ve noticed in the market."
(Guide a discussion on their observations and opinions about new products they’ve seen or heard of.)
"As we near the end of our lesson, let’s recap what we’ve learned today. We explored the stages of the product life cycle, discussed real-world examples, analyzed case studies, and engaged in collaborative group work. Understanding these concepts is vital in both business and marketing strategies."
"For homework, I’d like you to write a short report on either a specific product’s life cycle or your idea for a new product development. Make sure to detail each stage and how the product or idea could be successful. This will be due next class."
"Thank you for your participation today! I enjoyed seeing all your insights and teamwork. Have a great day!"
What strategies do you think companies use to boost sales during the Growth stage of a product’s life cycle?
Can you name a product that has successfully transitioned from the Introduction stage to the Growth stage, and what factors contributed to its success?
In the context of the Maturity stage, how might a business approach product differentiation to maintain market share?
Reflecting on products in the Decline stage, what are some steps a company might take to revitalize a declining product?
When developing a new product, what are some important considerations a company should take into account to ensure it meets market demand?
Let's stretch and move, it's time to play,
A few quick exercises to brighten our day!
Raise your arms high, then touch your toes,
Bend down gently, feel how it goes.
Side to side, let’s sway like a tree,
Stand up tall, and set your mind free.
Now let's march in place, one, two, three,
Lift those knees high, and feel the glee!
Circle your shoulders, roll them around,
Breathe in deeply, let calmness surround.
Twist your torso, look left, then right,
Feel the stretch, it’s a wonderful sight!
Jump up high, reach for the sky,
Land softly down, a happy sigh.
Wiggle your fingers, then shake out your hands,
Let out a cheer, this is what we planned!
Now we're refreshed, energized, and bright,
Ready to learn more, with all our might!