MKT571 University of Phoenix Promotion and the Product Life Cycle Paper

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Business Finance

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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.

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Wk 3 – Promotion and the Product Life Cycle Assignment Content 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. o o o o o o o o o o o o o Assignment Steps Create a minimum 700-word product strategy in Microsoft® Word. Complete the following: 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 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 Promotion and the Product Life Cycle Grading Guide MKT/571 Version 10 Marketing Copyright Copyright © 2017, 2016 by University of Phoenix. All rights reserved. University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Promotion and the Product Life Cycle Grading Guide MKT/571 Version 10 Edited in accordance with University of Phoenix® editorial standards and practices. 2 Promotion and the Product Life Cycle Grading Guide MKT/571 Version 10 Individual Assignment: Promotion and the Product Life Cycle 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 promotion 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. Grading Guide Content Student’s product strategy addresses at least three areas of the product life cycle (NPI-new product introduction, growth, maturity and decline). Student’s product strategy addresses how he/she will measure (what metrics will be used to determine success or failure) the marketing activities. Student’s product strategy includes the creation of 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 his/her product. Student has 2-3 sentences about each media method (i.e. one paragraph of what he/she would do, not how to do it). Student does not use the Facebook example provided here: • Product and Promotion: o Integrated Marketing Communication o Advertising Strategy/Objectives o Push and Pull o Media Strategy o Advertising Execution o Direct Marketing o Public Relations/Strategies o Positioning Student’s product strategy addresses three elements of the Product and Promotion List provided in the assignment. The product strategy is a minimum of 700 words in length. Note: Charts/graphs/tables Met Partially Met Not Met Comments: 3 Promotion and the Product Life Cycle Grading Guide MKT/571 Version 10 Content Met Partially Met Not Met Total Available Total Earned 70 #/70 Partially Met Not Met Total Available Total Earned 30 #/30 100 #/100 Comments: do not count toward the word count. Writing Guidelines Met The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements. Intellectual property is recognized with in-text citations and a reference page. Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper. Sentences are complete, clear, and concise. Rules of grammar and usage are followed including spelling and punctuation. Assignment Total Additional comments: # Comments: 4
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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...


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