Assignment Instructions/ Description
New Product Launch
Write a paper with a minimum 175 words on Why the product or service needs to be introduced or refreshed (target audience). No introduction or conclusion required. Just cover the subject.New Product is a kid’s version of the iPad. All the information is below.
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'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 paper 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. TEAM DISCUSSION:When thinking about a new product or product relaunch, I keep thinking about kids and electronics. Everywhere I go, it seems as though kids are always on some sort of electronic device. My thoughts for this assignment would be to use Apple but relaunch the ipad but in a kid friendly version. It wouldn't take the place of a normal ipad but would offer a different type that is catered specifically to kids. The materials used could be more durable, could have preloaded kid friendly options. It would be a more basic version of the ipad but could be offered at a much lower price point. Currently Amazon offers the Fire HD for Kids and retails for about $150. This offers "Durable design with two-year accidental-damage protection; Robust parental controls; Tons of free, age-appropriate content; Long battery life; Bright screen. (Oztan, 2017). By offering something similar, Apple could attract more customers that typically would not want to spend $300+ on an ipad for kids. I think there would be a lot of information available for this assignment and the competition would be the Amazon Fire HD for Kids and other similar brands.
Oztan, A. (2017) Amazon Fire HD 8 Kids Edition Review. Retrieved from https://www.laptopmag.com/reviews/tablets/amazon-fire-hd-8-kids-edition
The international market is INDIA.https://www.businessinsider.com/apple-focuses-more-on-emerging-markets-2016-12
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:1. Definition of product or service.2. Description of product or service--marketing message.3. Why the product or service needs to be introduced or refreshed (target audience)4. Address competition in each region and how the new product or refresh provides a competitive advantage.5. 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.
WEEK 3:Each team member should include a minimum of 175 words for their parts. Below is the breakdown for individual parts.Team Member 1 (Lead): Prepare introduction and conclusion, put the individual parts into one team document for review, make any suggested edits and submit the assignment.Team Member 2: Definition of product or service. Description of product or service--marketing message.Team Member 3: Address competition in each region and how the new product or refresh provides a competitive advantage.Team Member 4: Brief SWOT (emphasizes internal market--Strengths, Weakness, Opportunities, Threats) and/or TOWS (emphasizes the external market--Threats, Opportunities, Weakness, Strength).Team Member 5: Why the product or service needs to be introduced or refreshed (target audience).Team Member 6: 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.
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