TWO PARTS (Individual and team)
FIRST PART- New Product Launch
Purpose of Assignment
Understanding the various phases of a product or service lifecycle is critical when addressing a market. If your product is in decline and the competitor’s product is in growth, your strategy for the product or service will be different. This exercise will enable students to demonstrate an understanding of both their product/service life cycle stage and a competitor’s product. It is designed to help students explore product mix strategies in the various phases of a product or service life cycle. This tool is critical when addressing a market penetration, market saturation or product/service decline.
Assignment Steps
Resource: Plunkett Research Online located in the University Library.
Design a minimum 300 word New or Product Refresh Product Launch Plan in Microsoft® Word. The product launch plan will be for two markets: U.S. and one international market. Domestic market generally means the market where the company headquarters are located. If you choose a domestic market that is not the U.S. than your other market is required to be the U.S. Compare your product/service to at least one other competitor. This can be a product/service that is used by a team member in their individual assignment. The competitor does not need to be in both markets, you can have two different competitors, one for each market.
Include the following:
Address competition in each region and how the new product or refresh provides a competitive advantage (COMPANY PRODUCT IS MOTORCYCLES FROM HARLEY DAVIDSON)
Cite a minimum of two peer-reviewed references.
Format your assignment consistent with APA guidelines.
PART TWO PRODUCT LIFE CYCLE (WORS COUNT 500)
An extremely interesting model in Marketing is the Product Life Cycle and how the Marketing Components (Positioning, Targeting, Product Strategies, Price Strategies, Promotion Strategies and Distribution strategies) varies for each stage of the Product Life Cycle.
1 – Could you select a product of your choice and describe how the Marketing Components would change for each one of the six stages of the Product Life Cycle (Introduction, Growth, Maturity, Decline, Termination)?
2 – What have you learned from this exercise?
Please, provide at least two research sources in your reply to this message. Also, please, address each topic as separate titled paragraphs. Thanks.
