Reference no: EM131595455

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 

Generate a minimum seven hundred 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.
• Creat 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 can have two-three 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).
• 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.

The company chosen is Whole Foods

Cite a minimum of three peer-reviewed references.

Format your assignment consistent with APA guidelines.