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.
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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 ...