Promotion and the Product Life Cycle
Purpose of Assignment
All products/services go through a life cycle of NPI (new product introduction), growth, maturity, and decline. These various stages affect the marketing strategy and promotional efforts for a particular product or service. In Week 3, you will incorporate a product strategy that addresses at least 3 areas of the product life cycle. 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
Create a minimum 700-word product strategy in Microsoft® Word. Complete the following:
· Select a product strategy.
· Address at least three areas of the product life cycle (e.g., NPI, growth, maturity, and decline).
· Discuss two types of media methods you could use to highlight your 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 (attached) and will be incorporated into your overall marketing plan for Week 6.
Note: Charts/graphs/tables do not count toward the word count.
Format your assignment according to APA guidelines.
Plagiarism Free Paper
Running Head: MARKET PLAN AND MEMORANDUM 1
MARKET PLAN AND MEMORANDUM 2
Market Plan and Memorandum
Week 1
MEMORANDUM
To: Senior Vice President of Marketing (Professor Meraj Khan)
From: Dennis Gamarra
CC: MKT/571
Date: 12/8/2016
RE: MARKETING ANALYSIS
Summary Analysis
In a review of the summary analysis completed by our marketing analyst, I have put together some insights from the report that will help further explain the story in detail. The information provided includes details on the significant areas of increase and decrease in revenue. It will also include trends in terms of revenue and insight that will further grow as well as any additional analysis I can provide.
Revenue Details
In looking at the year to date numbers of January – June 2015 versus January – June 2016, revenue generated during this time frame did increase the year of year. Additionally, in all three-time frames of the overall report, revenue increased, with the majority of it coming from domestic sales. These sales are the strongest in the company and average between all time tables around 87 percent of the business. This does, however, lead to a negative trend in international sales explained later in the memo. There overall are no significant drops in revenue by any specific customer class. However, there were small drops in revenue from particular clients such as Delta Appliance. Overall the company is showing average gains but could compete more and increase profits through a few suggestions found in the additional analysis.
Trends
Gross Profit is an issue with the top customers as for the Month to date figures. It has decreased significantly, with many of the top customers showing a negative gross profit percent. Though the bottom-line total profit percent is unchanged, continuous negative percentages will result in a negative effect on the bottom line. Additionally, international sales across the board are down in comparison to domestic sales as these two in all prior months averaged a close to 50-50 spilled but now are heavily leaning towards the local markets with an almost 90-10 split. The reasoning behind the change is not clearly explained by the report, but it does give provide insight as to where to make future adjustments.
Additional Analysis
It is recommended that Marketing begin to research and focus on the trends going on internationally and focus on impacting those markets. With gross profit being relatively close for either market, driving sales globally will increase sales to the company as a whole. Goals should be set in an effort to maximize the reach of the company and improve the customer base to coincide with businesses generating the most revenue for the company.
Yours Faithfully.
Dennis Gamarra
MARKETING PLAN: NINTENDO
History: Nintendo is most known for the creation of one of the most successful firms providing video games, the Nintendo Leisure Framework (NLF), along with various characters created for software titles such as Exclusive Vibes Brothers. It, however, is a company with a long history that can be traced back to as far as 1890. Its first claim was NExt, and it was a start-up firm whose inspiration came from the work of philanthropists in Japan like Hussein Nehru and manufactured handmade simple playing items used to play various games. (Jones, 2013). Elite Visionaries to 1985 and the firm, who wanted to branch out and produce its own consoles and software, created the NES. This started an unbeaten run that has now lasted more than three decades with the introduction of newer consoles and newer games that take advantage of today’s technological advances.
Company Name: Nintendo
Location of Company Headquarters: Kyoto, Japan
Name of Product or Service Selected: Multiple Products primarily in the Video Game industry including, Hardware, Software, Accessories, and most recent additions into the mobile app industry.
General Description of Company: Nintendo is a firm that has experienced very challenging business periods as well as successful investing periods all through their years in business. It has successfully launched video game systems and been a recognized firm in the provision of such products. However, I have also innovated items that have consumed much of the organizational resources, including most recently lost revenue based on the lack of sales of its current-generation console, the Wii U, but the makeup of that lost revenue with the launch of the mobile app Pokémon Go. Nintendo employs approximately 6,590 employees and has $504.78 billion in revenue per sales made.
General Description of Product or service: The main products that the firm produces are video game hardware and software devices. They have a long history in the video game industry and have many characters and properties that they own the exclusive rights to. There most recent release of a NES Classic, a mini version of console released in 1985 with built-in original classic games, is an example of how the history within the company can be used to generate new profits with little to know new innovation while capitalizing on the nostalgia factor and supplying products for all generations of video game players around the world.
References
Jones, T. (2013). The Surprisingly Long History of Nintendo. Retrieved from
http://gizmodo.com/the-surprisingly-long-history-of-nintendo-1354286257
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