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 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: STARBUCKS COFFEE
- Introduction – at minimum 150 words
- Definition of product or service. At minimum 150 words
- Why the product or service needs to be introduced or refreshed (target audience). Minimum word
Note: Charts/graphs/tables do not count toward the word count.
Cite a minimum of one peer-reviewed references.
Format your assignment consistent with APA guidelines.
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