MKT575 UOPX Week 3 Promotion and the Product Life Cycle Paper

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MKT575

University of Phoenix

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Wk 3 – Promotion and the Product Life Cycle [due Mon]

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Assignment Content

    • Select a product strategy.
    • Address at least three areas of the product lifecycle (NPI, growth, maturity, and decline).
    • Create at least two different types of media methods for the product or service. One method must be print and the other must be non-print, both of which highlight your product or service. In your assignment, include 2-3 sentences about each media method (i.e., one paragraph of what you would do, but not how to do it). For example, (this cannot be used in this assignment), a non-print media method would be a Facebook campaign that provides users with a reward for each review (positive or negative) about the use/appearance/price/etc. of the product or service.
    • Determine how you will measure the marketing activities (i.e., what metrics will be used to determine success or failure).
    • Address three elements of the following Product and Promotion List:
    • Integrated marketing communication
    • Advertising strategy/objectives
    • Push and pull
    • Media strategy
    • Advertising execution
    • Direct marketing
    • Public relations/strategies
    • Positioning
    • Center for Writing Excellence
    • Reference and Citation Generator
    • Grammar and Writing Guides

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Purpose of Assignment

All products/services go through a lifecycle of NPI (new product introduction), growth, maturity, and decline. These various stages affect the marketing strategy and promotional efforts for a particular product or service. In Week 3, you will incorporate a product strategy that addresses at least 3 areas of the product lifecycle. The primary objective of this assignment is to allow you to demonstrate an understanding of the factors that can affect the launch of a product or service.

Assignment Steps

Create a minimum 700-word product strategy in Microsoft® Word. Complete the following:

The plan will be a continuation of the 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.

Format your assignment according to APA guidelines.

Submit your assignment.

Grading Guide: Promotion and the Product Life Cycle Grading Guide

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Explanation & Answer

Hey buddy, find the assignment attached

Running head: PROMOTION AND THE PRODUCT LIFE CYCLE

Promotion and the Product Life Cycle
Institutional Affiliation
Name
Date

PROMOTION AND THE PRODUCT LIFE CYCLE

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Promotion and the Product Life Cycle
Product Strategy
A product strategy refers to a plan that an organization develops to market their products
based on their analysis of the targeted market, what they aim to achieve in terms of market share,
their way of marketing their products as well as the profit they anticipate to receive. A product
strategy is made up of a number of achievable goals that organizations is working towards as
well as their vision which are aligned to attain desirable outcome for the organization as well as
their customers (Perri, 2016).

To develop the product strategy for Nescafe these three elements will be considered.
Pichler (2015) asserts that the market refer to the targeted customers for the product. These are
the people who are likely to buy the product as well as use it. In the case of our product which is
Nescafe Coffee, the target will be coffee lovers generally made up of young (20-35 years)
working class people and college students who are busy and hardworking thus requiring more
freshness brought by taking a cup of their coffee (Bhasin, 2018). The product will benefit the
users by providing with the freshness they need, to sober them up in the morning and in the
afternoons and keep awake late in the evenings.
Pichler (2015) defines the key features as those aspects of the product that differentiates it
and makes it more attractive than those of its competitors. In the case of Nescafe, it competes in

PROMOTION AND THE PRODUCT LIFE CYCLE

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market of other beverages such as coffee from other companies, tea, and cocoa among ot...


Anonymous
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