Promotion And The Product Life Cycle Assignment Steps Comple ✓ Solved

Promotion And The Product Life Cycleassignment Stepscompletea Minimum

Complete a minimum 700-word product strategy in Microsoft® Word. Incorporate a product strategy that addresses the following:

  • Select a product strategy.
  • Address at least three areas of the product lifecycle (NPI, growth, maturity, and decline).
  • Create at least two different types of media methods for the product or service. One method must be print and the other must be non-print, both of which highlight your product or service. In your assignment, include 2-3 sentences about each media method (i.e., one paragraph of what you would do, but not how to do it). For example, (this cannot be used in this assignment), a non-print media method would be a Facebook campaign that provides users with a reward for each review (positive or negative) about the use/appearance/price/etc. of the product or service.
  • 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:
    • 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 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.

Sample Paper For Above instruction

Introduction

The product selected for this marketing strategy is the innovative "EcoSmart Water Bottle," designed to appeal to environmentally conscious consumers. This product aligns with sustainability trends and aims to enhance brand positioning in the competitive beverage industry. This strategy will focus on key stages of the product lifecycle, employ diverse media channels, and integrate comprehensive marketing elements to optimize market penetration and growth.

Product Strategy

The core product strategy revolves around positioning the EcoSmart Water Bottle as an eco-friendly, reusable alternative to single-use plastic bottles. Emphasizing sustainability, durability, and modern design, the product aims to appeal to health-conscious and environmentally aware demographics. The branding approach emphasizes eco-awareness, social responsibility, and innovation, fostering customer loyalty and advocacy.

Product Lifecycle Stages

Introduction (New Product Introduction - NPI)

During the NPI stage, the focus is on building awareness among target consumers through introductory promotions, influencer collaborations, and educational campaigns highlighting environmental benefits. Sampling programs and introductory discounts will encourage early adoption. Digital media will be prioritized to reach eco-conscious demographics on social platforms and eco-focused websites.

Growth

In the growth stage, marketing efforts will intensify with customer testimonials, user-generated content, and expansion into retail outlets. Product features and benefits will be highlighted through targeted online ads and sponsored content. Loyalty programs and referral incentives will foster repeat purchases and word-of-mouth promotion.

Maturity

As the product enters maturity, differentiation becomes key. Promotional activities will include campaigns emphasizing sustainable lifestyle integration, partnerships with environmental organizations, and campaigns that showcase the product’s role in reducing plastic waste. Media channels will shift towards reinforcing brand values and maintaining customer engagement.

Media Strategies

Print Media Method

The print media method will involve placement of magazine advertisements in environmentally focused publications such as National Geographic and Outside Magazine. These advertisements will feature engaging visuals of the EcoSmart Water Bottle in outdoor and everyday settings, accompanied by compelling messages about sustainability and innovation. The print campaign aims to target eco-conscious consumers who prefer tactile, detailed information and prestige branding.

Non-Print Media Method

The non-print method will include a social media campaign on platforms like Instagram and Facebook, featuring user stories and videos of customers using the EcoSmart Bottle in various daily activities. Special promotions, such as discounts for sharing user-generated content or reviews, will be integrated. This approach leverages the reach and engagement of digital audiences, fostering a community around sustainability.

Measuring Marketing Activities

Marketing success will be evaluated through metrics such as social media engagement rates, website traffic analytics, and conversion rates from digital campaigns. Additionally, sales volume growth, customer feedback, and brand recall surveys will provide insights into campaign effectiveness. For print campaigns, responses tracked via unique QR codes or specific call-to-action responses will measure impact.

Marketing Elements

Integrated Marketing Communication (IMC)

The IMC strategy will synchronize messaging across digital, print, and in-store channels to reinforce brand identity and value propositions, ensuring consistency and maximum impact.

Advertising Strategy/Objectives

The advertising efforts aim to increase product awareness by 30% within six months and drive a 20% increase in sales. Campaigns will focus on educating consumers about environmental impact and brand values.

Push and Pull Strategies

The push strategy involves distributing promotional materials to retail partners and incentivizing them to promote the product. The pull strategy emphasizes creating demand among consumers through compelling advertising and social media engagement, encouraging retailers to stock and promote the EcoSmart Bottle.

Media Strategy and Advertising Execution

The media strategy combines targeted digital ads, influencer partnerships, and print advertisements to maximize reach. Advertising execution will involve content that highlights product benefits, user stories, and environmental impact, aligning with consumer values and preferences.

Direct Marketing and Public Relations

Direct marketing campaigns will include personalized email communications and promotional offers to existing customers. Public relations efforts will involve partnerships with environmental NGOs, press releases, and participation in sustainability events to boost brand credibility and visibility.

Positioning

The EcoSmart Water Bottle is positioned as a premium, environmentally responsible product that caters to modern consumers’ sustainability desires. Its positioning emphasizes lifestyle integration, health benefits, and ecological impact, differentiating it from conventional bottles.

Conclusion

This comprehensive marketing plan leverages stage-specific strategies, diverse media channels, and integrated marketing elements to effectively promote the EcoSmart Water Bottle across its product lifecycle. By aligning marketing efforts with consumer values and sustainability trends, the brand can achieve sustained growth and strong market positioning.

References

  • Armstrong, G., & Kotler, P. (2017). Marketing Principles (7th ed.). Pearson.
  • Clow, K. E., & Baack, D. (2018). Integrated Advertising, Promotion, and Marketing Communications (8th Edition). Prentice Hall.
  • Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
  • Lamb, C. W., Hair, J. F., & McDaniel, C. (2018). Principles of Marketing (8th ed.). Cengage Learning.
  • Sharma, A., & Lambert, D. M. (2013). Segmentation and Targeting. In Handbook of Strategic Marketing (pp. 227-250). Emerald Publishing.
  • Sweeney, D., & Venkatesh, V. (2014). Optimizing Multimedia Advertising Effectiveness. Journal of Interactive Marketing, 28(1), 34-50.
  • Verhoef, P. C., et al. (2021). Customer Engagement and Marketing Effectiveness. Journal of Marketing, 85(3), 184-202.
  • Yoo, B., et al. (2018). Integration of Marketing Communications. Journal of Business Research, 90, 24-31.
  • Zhang, M., et al. (2020). Effectiveness of Social Media Marketing Strategies. Marketing Letters, 31(3), 341-356.
  • Zeithaml, V. A., et al. (2017). Consumer Perceptions and Marketing Strategies. Journal of Consumer Research, 44(4), 718-736.

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