Description
This assignment is a continuation from Weeks 1 and 2...
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.
Tutor should have Marketing knowledge, Excel abilities, English Language writing abilities with a level of communicating the requested assignment information, and follow APA standards when writing. Please DO NOT PLAGIARIZE other than unavoidable assignment information. NO cutting and pasting because it causes an inability to format, document properly. Tutor must be able to follow ALL DIRECTIONS in the assignment and include ALL if any calculations requested in the assignment. Please include References.
Unformatted Attachment Preview
Purchase answer to see full attachment
Explanation & Answer
Hi, find attached the completed work for your review.Let me know if I should edit or change anything.Looking forward to working with you in future.Thank you.
Attached.
Outline
New Product Introduction
•
New product introduction is the initial stage in which organizations make a unanimous
decision to introduce a given product or service to the public. It involves the process
through which a given idea or product is comprehensively refined before being
commercialized to the customers.
Growth Stage
•
During this stage, the organization emphasizes the aspect of promotional spending,
primarily to appeal to more customers to their product. The market competition is
considered, and the organization ensures that the customer understands all aspects
concerning the quality of the product and its advantages compared to other competitors.
Maturity Stage
•
During this phase, Ford targets to introduce the products in various locations across the
globe and put much emphasis on global markets in order to attain more profits. However,
it is crucial for the company to consider that specific product in other locations is still in
the inventory stage.
Measurement of Marketing Activities
•
The marketing decision of Ford is informed by relevant data, and the outcome of each
action that is undertaken is bookmarked to provide a reference for the future. Marketing
activities are evaluated by considering marketing contribution to revenue.
•
For product advertisement and promotion, Ford considers using social media platforms,
including blogs, forums...