Purpose of Assignment
All products/services go through a life cycle of
NPI (new product introduction), growth, maturity, decline and termination.
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.
COMPLETE A and B sections
listed below. Please, title each section of your paper with each main
topic the assignments (A and B – copyand paste) and then use section sub-titles
for section contents (copy and paste). Make sure all topics are adderssed
in your paper – please, do not create additional sections or section sub-titles
that are not included in the assignment.
Assignment Steps
Generatea minimum 700-word product strategy in Microsoft®Word.
A – Incorporate a product strategy that addresses the following:
1. At least three areas of the product life cycle (NPI-new product
introduction, growth, maturity, decline and termination).
2. How you will measure (what metrics will be used to determine success or
failure) the marketing activities – please provide specific ‘numbers’ and/or
specific ‘number’ ranges.
3. 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; for example, provide
specifics on the TV station name, the reach and frequency, the name of the
program, day and time of commercial, etc.).
B – Address Item # 1 and #2 below, and one additional element of the
Product and Promotion List (see below).
·
Product and Promotion List:
1. Integrated Marketing Communication
Advertising
Strategy/Objectives
2. Push and Pull
3. Media Strategy
4. Advertising
Execution
5. Direct Marketing
6. Public Relations/Strategies
7. 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.
