Promotion and the Product Life Cycle

User Generated

Gevcyr0mreb

Business Finance

MKT571

University of Phoenix

Description

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 for a particular product or service. 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 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:

  • Select a product strategy.
  • Address at least three areas of the product life cycle (e.g., NPI, growth, maturity, and decline).
  • Discuss two types of media methods you could use to highlight your 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 (Coca-Cola) and 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.

Unformatted Attachment Preview

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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Explanation & Answer

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Coke Zero Product Strategy OUTLINE
Thesis: Whenever a new product is introduced, the company has to be considerate of
various critical factors that play into the marketing and subsequent sales of the product. Such
could include understanding the competitive market, understanding the relevant product’s
lifecycle, the impact and choice of the promotion media, and, most importantly, coming up
with relevant metrics upon which to measure the success of the set-out objectives.
1. Introduction
2. Product strategy
3. Understanding the Product life cycle
4. Public relations and Media Marketing.


Running Strategy: NEW PRODUCT STRATEGY

Coke Zero Product Strategy
Name
Institution
Date

1

NEW PRODUCT STRATEGY

2
Coke Zero Product Strategy
Introduction

Whenever a new product is introduced, the company has to be considerate of various
critical factors that play into the marketing and subsequent sales of the product. Such could
include understanding the competitive market, understanding the relevant product’s lifecycle,
the impact and choice of the promotion media, and, most importantly, coming up with
relevant metrics upon which to measure the success of the set-out objectives. Such factors
could thus preclude the ...

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