In 2020, something incredible happened in the dairy aisle: Velveeta started flying off the shelves.
Click here to read the story at cnn.com.
Discussion Questions:
- What is the product life cycle?
- What are the different stages of the product life cycle?
- Why do you think Velveeta fell out of favor with consumers?
- How did consumer behavior change during the pandemic?
- How did Velveeta benefit from that shift in consumer behavior?
- What is a brand?
- What is brand perception?
- What is positioning?
- How do you think Velveeta positioned its product?
- Was that positioning strategy successful? Why or why not?
- Velveeta’s marketing has evolved over the years. Based on information from this story, how has it evolved?
- What is a marketing stunt?
- According to this story, why did Velveeta shift a marketing strategy away from traditional advertising to more marketing stunts?
- What stage of the product life cycle do you think best describes Velveeta’s current position? Why?