Promotion and the Product Life Cycle

User Generated

qron92

Business Finance

Description

Assignment Steps

Generate a minimum 700-word product strategy in Microsoft® Word.

Incorporate a product strategy that addresses the following:

  • At least three areas of the product life cycle (NPI-new product introduction, growth, maturity and decline).
  • How you will measure (what metrics will be used to determine success or failure) the marketing activities.
  • Create 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 your product. For example, (this cannot be used in this assignment), a non-print media method would be a Facebook campaign that provides a user a reward for each review, positive or negative, posted about the use/appearance/price/etc. of the product. In your assignment, you should have 2-3 sentences about each media method (i.e. one paragraph of what you would do, not how to do it).
  • Address three elements of the Product and Promotion List (see below).
    • 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 your global or multi-regional company you chose in Week 1 (COMPANY --APPLE CORP). This will be incorporated into your overall marketing plan for Week 6.

Note: Charts/graphs/tables do not count toward the word count.

Cite a minimum of three peer-reviewed references.

Format your assignment consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment

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Explanation & Answer

Attached.

Running head: PRODUCT PROMOTION AND LIFECYCLE

Product promotion and Lifecycle
Student’s Name
Institution of Affiliation

1

PRODUCT PROMOTION AND LIFECYCLE

2

Product promotion and Lifecycle
A product’s lifecycle is a description of the phases or stages that a product underwent
from the first step when it was just an idea to the final stage of its removal or fall in the market.
There are four phases that a product or a service would undergo from its inception to a point
where it can be consumed in the market for various purposes. These steps are described in details
below.
I.

Introduction of an idea.
This is the initial stage in which research is conducted on an idea, analyzed it and

eventually start the development process of the intended goods and services. The feasibility test
of this idea is usually performed for the management to determine whether the plan is worth
investing in or not (Restuccia, et al., 2016). Through market research in collaboration with the
customers’, this information would provide a limelight on what kind of product would meet the
market needs and be able to sustain itself in the competitive market. Therefore wherever the
Apple Corporation intends to introduce n...


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