{"id":47832,"date":"2022-04-02T03:49:15","date_gmt":"2022-04-02T03:49:15","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/purpose-of-assignment-understanding-the-various-phases-of-a-product\/"},"modified":"2022-04-02T03:49:15","modified_gmt":"2022-04-02T03:49:15","slug":"purpose-of-assignment-understanding-the-various-phases-of-a-product","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/purpose-of-assignment-understanding-the-various-phases-of-a-product\/","title":{"rendered":"Purpose of assignment understanding the various phases of a product"},"content":{"rendered":"<div>\n<p>\u00a0<\/p>\n<p><strong>Purpose of Assignment<\/strong><\/p>\n<p>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&#8217;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&#8217;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.<\/p>\n<p><strong>Assignment Steps<\/strong><\/p>\n<p><strong>Resource:<\/strong> Plunkett Research Online located in the University Library.<\/p>\n<p><strong>Design<\/strong> a minimum 1,050-word New or Product Refresh Product Launch Plan in Microsoft\u00aeWord. 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.<\/p>\n<p><strong>Include<\/strong> the following:<\/p>\n<ul>\n<li>Brief SWOT (emphasizes internal market&#8211;Strengths, Weakness, Opportunities, Threats) and\/or TOWS (emphasizes the external market&#8211;Threats, Opportunities, Weakness, Strength).<\/li>\n<li>A graph or chart if the team deems it necessary.<\/li>\n<\/ul>\n<p><strong>Include<\/strong> two of the following:<\/p>\n<ul>\n<li>Definition of product or service.<\/li>\n<li>Description of product or service&#8211;marketing message.<\/li>\n<li>Why the product or service needs to be introduced or refreshed (target audience).<\/li>\n<li>Address competition in each region and how the new product or refresh provides a competitive advantage.<\/li>\n<li>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.<\/li>\n<\/ul>\n<p><em>Note<\/em>: Charts\/graphs\/tables do not count toward the word count.<\/p>\n<p><u><em><strong>Cite a minimum of three peer-reviewed references.<\/strong><\/em><\/u><\/p>\n<p><strong>Format<\/strong> your assignment consistent with APA guidelines.<\/p>\n<p><strong>Click<\/strong> the Assignment Files tab to submit your assignment.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 Purpose of Assignment 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&#8217;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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-47832","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/47832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=47832"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/47832\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=47832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=47832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=47832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}