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. In Week 3, you will incorporate a product strategy that addresses at least three (3) 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 demonstrate an understanding of the differences of a product launch in the U.S. (domestic market) versus an international market.
Generate a minimum 700-word product strategy in Microsoft® Word.
Incorporate a product strategy for Intel Mobile Products that addresses the following:
- At least three areas of the product life cycle (NPI-new product introduction, growth, maturity and decline).
- How you will measure (what metrics will be used to determine success or failure) the marketing activities in the US and abroad.
- Create at least two different types of media methods for the products in each country. One media method must be a print method and one must be non-print. Explain how media methods will be implemented in the US and abroad based on target audience factors, getting down to specifics in terms of location or venue (Ex: if advertising or commercials will be employed for a consumer audience, in conjunction with what event, in what print vehicle, in conjunction with what type of radio program or TV program, etc.). 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).. Be sure to consider what the objectives are for the media section for a revised or enhanced marketing plan and the benefits/drawbacks of specific media types.
- Address three elements of the Product and Promotion List (see below).
- Product and Promotion List:
- Integrated Marketing Communication
- Advertising Strategy/Objectives
- Push and Pull
- Media Strategy
- Advertising Execution
- Direct Marketing
- Public Relations/Strategies
The plan will be a continuation of your global or multi-regional company you chose in Week 1(Intel). 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 as well as other sources. Leverage your learning from this course by defining and discussing marketing principles/concepts relevant to this week’s assignment
Format your assignment consistent with APA guidelines.