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. In Week 3, you will incorporate a product strategy that addresses at least 3 areas of the product life cycle.
Assignment Steps
Complete the Promotion and Product Life Cycle Worksheet.
Cite a minimum of three peer-reviewed references.
Format your in-text citatons and references consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
Unformatted Attachment Preview
Purchase answer to see full attachment
Explanation & Answer
Attached.
Promotion and the Product Life Cycle
Name:
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 product strategy that addresses at least 3 areas of the product life cycle.
The primary objective of this assignment is to demonstrate an understanding of the factors that
can affect the launch of a product or service. The answer should be no more than 200 words.
Answer
Review and explain the
three areas of the product
lifecycle.
How you will measure
(what metrics will be
used to determine
success or failure) the
marketing activities. Use
numbers to Identify why
the problem growing.
Coca-Cola Product life cycle has several areas, below I will discuss
three of them.
Introduction is the first stage, it is generally the market development
stage of the new product. At this stage product market size is very
small, there are low sales and less demand for the product has just
entered the marketplace. There are a lot of marketing activities
demanded at this stage and a good marketing strategy should be in
place in order to create demand for the new product. Needed for this
stage depends on product's consumer needs, the presence of
competiti...