Understanding various phases of product or service lifecycle

Assignment Help Operation Management

Reference no: EM132229984

Using chick fil a

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 Resource:

Plunkett Research Online located in the University Library.

Design a minimum 1,050-word 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: Brief SWOT (emphasizes internal market--Strengths, Weakness, Opportunities, Threats) and/or TOWS (emphasizes the external market--Threats, Opportunities, Weakness, Strength). A graph or chart if the team deems it necessary. Include two of the following: Definition of product or service. Description of product or service--marketing message. Why the product or service needs to be introduced or refreshed (target audience). Address competition in each region and how the new product or refresh provides a competitive advantage. Evaluate the potential growth rate. Look for information on similar products/services to determine a 3 year growth rate (Compound Annual Growth Rate-CAGR). Information may be located in the University Library.

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.

Reference no: EM132229984

Questions Cloud

What should the fellow students do who are classmates : The student even names the nurse assigned to the patient and the name of the hospital. What should the fellow students do who are classmates

People home gadgets : People's Home Gadgets (PHG) is a relatively young company that competes in the consumer electronics and appliances industry

What do your customers like about your company : The situational analysis section of your marketing plan identifies where the company is now. Think of the company relative to its competitors.

Expecting crush of business after final exams : Expecting a crush of business after final exams in December, Woody orders 10 extra kegs of Guinness Stout and advertises a $3 special on Guinness.

Understanding various phases of product or service lifecycle : Understanding the various phases of a product or service lifecycle is critical when addressing a market.

Find an expression for the electric field strength : Use Gauss's Law to find an expression for the Electric Field strength for any point inside the slab. Sketch the magnitude of E from z = 0m to z = 8m

Calculate the standard deviation for each stock : Calculate the standard deviation for each stock. Form portfolios of the two stocks by changing their weights between zero and hundred percent and measure.

Advantages of using quantitative risk assessment tool : Discuss the advantages of using quantitative risk assessment tool. Identify the advantages Spotify has over illegal, free platforms?

Write pros and cons for given research methods : What are your thoughts in your own words around quantitative vs. Qualitative research methods? Can you list pros and cons for each one? In reference texts.

User Account

All Pages