Wk 3 – Promotion and the Product Life Cycle

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 (I chose Nike, by the way)!
     Note: Charts/graphs/tables do not count toward the word count.
     
     
     Format your assignment according to APA guidelines.