Phoenix MKT571 – The product, service is Information technology

29 Jun Phoenix MKT571 – The product, service is Information technology

Question
Assign.The company I chose is Lockheed Martin and the product/service is Information technology. Also included the grading guide.

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.

Assignment Steps

Generatea minimum 700-word product strategy in Microsoft®Word.

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
Advertising Strategy/Objectives
Push and Pull
Media Strategy
Advertising Execution
Direct Marketing
Public Relations/Strategies
Positioning
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.

Format your assignment consistent with APA guidelines.

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

3.5

#/3.5

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

1.5

#/1.5

Assignment Total

#

5

#/5