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Promotions and Product life cycle

14/09/2020 Client: lyjly0515 Deadline: 2 Day

 


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.

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