Reference no: EM131416775

Promotion and the Product Life Cycle

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 - copy and 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

Generate a 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

2. Advertising Strategy/Objectives

3. Push and Pull

4. Media Strategy

5. Advertising Execution                    

6. Direct Marketing

7. Public Relations/Strategies

8. 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.

Format your assignment consistent with APA guidelines.