I’m studying for my Marketing class and need an explanation.

Assignment Content

  1. 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 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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