Learning Team Assignment: New Product Launch

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.  

 Design a minimum 200 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.  

Toyota Camry is the product

 

1. Address competition in each region and how the new product or refresh provides a competitive advantage. 

 

New Product Launch Grading Guide

MKT/571 Version 10

Marketing

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Learning Team Assignment: New Product Launch

Purpose of Assignment

Understanding the various phases of a product or service life cycle 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.

Grading Guide

Content	Met	Partially Met	Not Met	Comments:
Students design a New or Product Refresh Product Launch Plan for two markets. The product launch plan will be for two markets: U.S. and one international market. The product/service can be one used by a team member in their individual assignment.
Students compare their product/service to at least one other competitor. The competitor does not need to be in both markets, they can have two different competitors, one for each market.
Students’ New or Product Refresh Product Launch Plan includes a brief SWOT (emphasizes internal market–Strengths, Weakness, Opportunities, Threats) and/or TOWS (emphasizes the external market—Threats, Opportunities, Weakness, Strength). Include a graph or chart if the team deems it necessary.
Students’ New or Product Refresh Product Launch Plan includes at least 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 three year growth rate (Compound Annual Growth Rate-CAGR). Information may be located in the University Library.
The New or Product Refresh Product Launch Plan is a minimum of 1,050 words in length. Note: Charts/graphs/tables do not count toward the word count.
		Total Available	Total Earned
		6	#/6

Writing Guidelines	Met	Partially Met	Not Met	Comments:
The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements.
Intellectual property is recognized with in-text citations and a reference page.
Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper.
Sentences are complete, clear, and concise.
Rules of grammar and usage are followed including spelling and punctuation.
		Total Available	Total Earned
		2	#2

Assignment Total	#	8	#/8
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