Homework: Promotion and the Product Life Cycle
Chose the company Blue Apron
Purpose of Homework
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 for a particular product or service. You will incorporate a product strategy that addresses at least 3 areas of the product life cycle. The primary objective of this homework is to allow you to demonstrate an understanding of the factors that can affect the launch of a product or service.
Task
Create a minimum 700 words product strategy in Microsoft Word. Complete the following:
o Select a product strategy.
o Address at least three areas of the product life cycle (e.g., NPI, growth, maturity, and decline).
o Discuss two types of media methods you could use to highlight your product or service.
o Determine how you will measure the marketing activities (i.e., what metrics will be used to determine success or failure).
Address three elements of the following product and promotion list:
o Integrated marketing communication
o Advertising strategy/objectives
o Push and pull
o Media strategy
o Advertising execution
o Direct marketing
o Public relations/strategies
o Positioning
Format your homework according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.