MKT571 Phoenix Week 3 Product Strategy And The Product Life Cycle Assignment Content
Purpose of Assignment
This is the second part of your marketing plan. Make sure you are working on the same product/service in last week’s individual assignment.
All products/services go through a lifecycle of NPI (new product introduction), growth, maturity, and decline. These various stages affect the marketing strategy for a particular product or service. In Week 3, you will develop a product strategy that addresses at least 3 areas of the product lifecycle. The primary objective of this assignment is to allow you to demonstrate an understanding of the factors that can affect the launch of a product or service.
Assignment Steps
Complete a minimum 700-word product strategy in Microsoft® Word. Incorporate a product strategy that addresses the following:
Describe the nature of your product (product category, tangible/intangible, level of technology, importance of service etc.)
Describe one or two most important attributes of your products. How are they different from the competing products?
From consumers’ perspectives, what are the benefits and values provided by your product to the target consumers?
Discuss the focus of your product strategy and communication strategy in at least three areas of the product lifecycle (Introduction, growth, maturity, and decline).
The plan will be a continuation of the 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.
Click the Assignment Files tab to submit your assignment.
Grading Guide:
Product Strategy and Product Life Cycle Grading Guide
Resources:
Center for Writing Excellence
Reference and Citation Generator
Grammar and Writing Guides
Learning Team Toolkit
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Add Content Discussion Questions For I Moved Your Cheese. Teigans Work
Also consider these LitLovers talking pointsand activitiesto help get a discussion started for Who
Moved My Cheese:
1. In Johnson’s book the cheese is a metaphor. What does it represent?
2. What does the maze represent?
3. Identify both the cheese and the maze in your own life. Then consider what might happen if someone
moved your cheese. Imagine the ways you might have to cope with the changes.
4. What changes have you already experienced in your life? How did you react to the changes? Were
you threatened, angry, frightened, disoriented, or excited by the challenge (come on…be honest!)?
After reading Who Moved My Cheese? do you feel you dealt as well as you could have with those
changes?
5. Has Johnson’s book helped you see how change can be beneficial…in life in general, as well as in your
own work or personal life?
6. If you read “A Discussion,” the book’s third section, what did you learn from the way others
interpreted the book? Were any situations similar to your own?
7. Do you wish Johnson had offered concrete answers to the question of dealing with change? Would
you have preferred a “how-to” approach, say, a step-by step guide? Or do you appreciate the way in
which readers are free to interpret and apply the parable for themselves? Which approach is more
helpful to you?
8. In the parable, Johnson says the four characters represent the four parts of ourselves, from the simple
to the complex. What does he mean: which character represents which part of ourselves? Is there one
character you relate to more than the others?
9. Why is it so hard for most of us (all of us?) to accept change?
_______________
Activities
1. For the hostess or leader of the discussion: without telling members ahead of time, change the format
of the book club meeting perhaps where you sit, when you discuss vs. when you socialize, the manner
in which you discuss… whatever changes you can think of (and only for this meeting). This is an
experiment to see how members deal with the changes facing them in the here and now.
2. Invite members to write down on a sheet of paper an aspect of their own lives that could beor is in
the process of beingaffected by changea move, new job, a child off to college, a divorce…whatever.
Then pass around a basket or hat holding folded pieces of paper with the names of the characters from
the parable (Hem, Haw, etc.). Make sure there are enough papers for everyone. Each member should
draw one of the folded papers and talk about how that parable character would approach the change
he/she wrote on the sheet of paper.
3. Pass around paper and pencils for each member to write down and describe his/her personal maze.
Fold the paper. Appoint a moderator to collect and read out loud each member’s mazeanonymously.
The group tries to guess which maze belongs to which member. (This requires a high degree of trust
among members.)
4. Divide up into teams of 2-4 people. Each team begins working on its own projecta jigsaw puzzle, or
solving a riddle, or writing a group storyanything that involves teamwork. After several minutes, a
moderator rings a bell and chooses a member from each team to move to another team. Let everyone
begin working on their team projects again, this time with a new member. Wait for another interval, ring
the bell, and shuffle members around again. Keep this up as long as you can stand it. The idea is to
replicate how difficult it is to change both in terms of disrupting group coherence and having to fit
into a new group.
(Questions and activities by LitLovers. Please feel free to use them, online or off, with attribution.
Thanks.)
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