Hi This is a group assignment, Im just assigned a small potion of it just need at least 250 word analysis for the italicized section below. The company we we picked was Starbucks
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.
Design a minimum 250-word New or Product Refresh Product Launch Plan in MicrosoftÂ®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
- Why the product or service needs to be introduced or refreshed (target audience).
At least 1 peer-reviewed references.
Format your assignment consistent with APA guidelines