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 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.
Generate a minimum 700-word product strategy in Microsoft® Word. product life cycle
Incorporate a product strategy 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.
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).
Address three elements of the Product and Promotion List (see below).
Product and Promotion List:
Integrated Marketing Communication
Push and Pull
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. WITH INTRO/CONCLUSION
Format your assignment consistent with APA guidelines. (NO PLAGIARISM)
This is the Company that I chose, please use the information if needed to complete the assignment. just information that might help!!!!
McDonald’s company you chose in Week 1
Location of Company Headquarters
McDonald’s Headquarters are in Oak Brook, Illinois in the United States of America
Name of Product or Service selected
Hamburger and Fast food
General description of company (number of employees, revenue, type of ownership, web page, etc.)
McDonald’s Company is the largest chain of hamburger and fast food restaurant. In a single day, the company can attend to more than seventy million customers. McDonald’s began in 1940 as an eatery operated by Richard and Maurice McDonald in San Bernardino. RayKroc purchased McDonald’s in 1955 and operated it as a franchised restaurant. He also obtained the two brother’s business equity which led to a massive global expansion. A decade later, the restaurant had implemented over seven hundred outlets in the US. Presently, the company is in operation in approximately 119 countries with more than thirty-five thousand outlets. It has a capacity of three hundred and seventy-five thousand employees across the world. McDonald’s has opened a website, http://corporate.mcdonalds.com which is helpful in their marketing strategies. It earns its revenue from their product sale, rent and charges to the franchisee.
General description of product or service
McDonald’s is well known for its tasty hamburger and different kinds of sandwiches made with chicken meat. French fries are also offered in their outlets as well as desserts and breakfast foods. These food products are often eating-in or takeaway.