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 promotion strategy that addresses at least 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 understand the differences in a product launch in the U.S. (domestic market) and an international market.

Grading Guide

Content	Met	Partially Met	Not Met	Comments:
Student’s product strategy addresses at least three areas of the product life cycle (NPI-new product introduction, growth, maturity and decline).
Student’s product strategy addresses how he/she will measure (what metrics will be used to determine success or failure) the marketing activities.
Student’s product strategy includes the creation of 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 his/her product. Student has 2-3 sentences about each media method (i.e. one paragraph of what he/she would do, not how to do it).Student does not use the Facebook example provided here: Product and Promotion: Integrated Marketing Communication Advertising Strategy/Objectives Push and Pull Media Strategy Advertising Execution Direct Marketing Public Relations/Strategies Positioning
Student’s product strategy addresses three elements of the Product and Promotion List provided in the assignment.
The product strategy is a minimum of 700 words in length.Note:Charts/graphs/tables do not count toward the word count.
		Total Available	Total Earned
		70	#/70

Writing Guidelines	Met	Partially Met	Not Met	Comments:
The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements.
Intellectual property is recognized with in-text citations and a reference page.
Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper.
Sentences are complete, clear, and concise.
Rules of grammar and usage are followed including spelling and punctuation.
		Total Available	Total Earned
		30	#/30

Assignment Total	#	100	#/100
Additional comments:

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

Design a minimum 750-word New or Product Refresh Product Launch Plan in Microsoft® Word (NIKE).

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:

• Brief SWOT (emphasizes internal market–Strengths, Weakness, Opportunities, Threats) and/or TOWS (emphasizes the external market–Threats, Opportunities, Weakness, Strength).
• A graph or chart if the team deems it necessary.

Include two of the following:

• Definition of product or service.
• Description of product or service–marketing message.
• Why the product or service needs to be introduced or refreshed (target audience).
• Address competition in each region and how the new product or refresh provides a competitive advantage.
• Evaluate the potential growth rate. Look for information on similar products/services to determine a 3 year growth rate (Compound Annual Growth Rate-CAGR). Information may be located in the University Library.

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.

Submit your assignment.