Generate a minimum 1,050 word product and promotion strategy
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 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.
Assignment Steps
Generate a minimum 1,050 word product and promotion strategy in Microsoft® Word.
Incorporate a product and promotion strategy that addresses the following:
• The product life cycle [New Product Introduction (NPI), Growth, Maturity, and Decline].
Carefully think through and if appropriate integrate the following:
The Product Launch Cycle which includes Pre-launch, Launch, and Post-launch.
The Product Adoption Cycle (Early adopters, Adopters, Late Adopters, and Laggards)
For consumer products – The Human Life Cycle (newborns, adolescents, young adults, early marrieds, marrieds with children, empty-nesters, and seniors)
Note: These cycles can be presented with clarity and precision utilizing curvilinear infographics.
• How you will measure the marketing activities. What metrics will be used to determine success or failure?
• 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.
• Address these elements regarding Product and Promotion, as taken from the Marketing Plan Outline and Timeline section titled, “Product, Place/Distribution, Promotion, and Price Strategies,” and shown below:
Product and Promotion:
• Integrated Marketing Communication
• Advertising Strategy/Objectives
• Push and Pull
• Media Strategy
• Advertising Execution
• Direct Marketing
• Public Relations/Strategies
• Positioning
Note: Charts/graphs/tables do not count toward the word count.
This is a continuation of your global or multi-regional company, as selected in Week 1 and will be incorporated into your overall marketing plan for Week 6.
Include in-text citations and references for text (must be used with every assignment in this course), and a minimum of three peer reviewed references, at least two from UOP Library and/or Electronic Reserve Readings.
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