Purpose
of Assignment
All products/services go
through a life cycle of NPI (new product introduction), growth, maturity and
decline. These various stages affect the marketing strategy and promotional
efforts. In Week 3, you will incorporate a product strategy that addresses at
least 3 areas of the product life cycle. The primary objective of this
assignment is to allow the student to demonstrate an understanding of the
factors that can affect the launch of a product or service. A secondary
objective is to understand the differences in a product launch in the U.S.
(domestic market) and an international market.
Assignment
Steps
Generatea minimum 700-word product strategy in Microsoft®Word.
Incorporate a product strategy that addresses the
following:
·
At least three areas of the
product life cycle (NPI-new product introduction, growth, maturity and
decline).
·
How you will measure (what
metrics will be used to determine success or failure) the marketing activities.
·
Create at least two different
types of media methods for the products. One media method must be a print
method and one must be non-print. A media method is a media strategy which
highlights your product. For example, (this cannot be used in this assignment),
a non-print media method would be a Facebook campaign that provides a user a
reward for each review, positive or negative, posted about the
use/appearance/price/etc. of the product. In your assignment, you should have
2-3 sentences about each media method (i.e. one paragraph of what you would do,
not how to do it).
·
Address three elements of the
Product and Promotion List (see below).
o
Product and Promotion List:
§ Integrated Marketing Communication
§ Advertising Strategy/Objectives
§ Push and Pull
§ Media Strategy
§ Advertising Execution
§ Direct Marketing
§ Public Relations/Strategies
§ Positioning
The plan will be a
continuation of your global or multi-regional company you chose in Week 1. This
will be incorporated into your overall marketing plan for Week 6.
Note: Charts/graphs/tables do not count toward the word
count.
Cite a minimum of three peer-reviewed references.
Format your assignment consistent with APA
guidelines.
Clickthe Assignment Files tab to submit your assignment.
