Assignment Steps
Generate a minimum 700-word product strategy in Microsoft® Word.
Part A – Incorporate a product strategy that addresses the following:
- At least three areas of the five stages of the product life cycle (NPI-new product introduction, growth, maturity, decline and termination).
- How you will measure (what metrics will be used to determine success or failure) the marketing activities – please provide specific ‘numbers’ and/or specific ‘number’ ranges.
- 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. For example, (this cannot be used in this assignment), a non-print media method would be a Facebook campaign that provides a user a reward for each review, positive or negative, posted about the use/appearance/price/etc. of the product. In your assignment, you should have 2-3 sentences about each media method (i.e. one paragraph of what you would do, not how to do it; for example, provide specifics on the TV station name, the reach and frequency, the name of the program, day and time of commercial, etc.).
Part B – Address Item # 1 and #2 below, and one additional element of the Product and Promotion List (see below).
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- 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 your global or multi-regional company you chose in Week 1. This will be incorporated into your overall marketing plan for Week 6.
Note: Charts/graphs/tables do not count toward the word count.
Cite a minimum of three peer-reviewed references.
Format your assignment consistent with APA guidelines.