Learning Team Assignment Product Launch Plan

MKT 571 Week 4 team Assignment New Product Launch Marketing Plan, Part 2

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Create a 1,400-word Market Segmentation Plan for the New Product/Service Launch Marketing Plan. Include the following for both the domestic and international markets based on the team's research: • Describe the target market (audience) profiles, key buying behaviors, and decision motivators for the consumer target market. Note: Do not pick different target markets for the domestic and international markets. • Detail the steps involved in a new product/service development. • Discuss the stages of the new product/service life cycle and how to manage each stage. Include tactical plans for the 4 Ps at each stage. • Develop a pricing strategy for the new product or service offering. • Differentiate the new pricing strategy for the practice of setting the price. Why is this an important distinction? • Develop the product offering started in Week 2. Provide the product mix for the new offering including features and benefits, branding, any other products in its line, its differentiating characteristics from competitive or substitute products, packaging and labeling, and warranties and guarantees. • Create a new positioning statement and strategy for the product/service. • Justify the position strategy. Cite a minimum of six scholarly sources. Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.

MKT 571 Week 3 Team Assignment New Product Launch

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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 1,050-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: • 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. Click the Assignment Files tab to submit your assignment.

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