MKT/500 Week 5 Discussion Question
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“New Product Development and The Product Life Cycle” Please respond to the following:
• * From the scenario, analyze the goals, product, price, and promotion for the new product launch in each stage of the product life cycle. Recommend two (2) marketing tactics and strategies that the intern should consider in order to increase product revenue over time. Provide rationale for your response.
• From the e-Activity, imagine you are on the marketing team for the Smart Car Company, which is looking to expand its current automobile offerings. First, propose one (1) possible new product or extension that your team could offer to either Smart Car Company’s existing target or a new target market. Next, formulate one (1) strategy for marketing your product to your selected market. Justify your response by comparing your strategy to the current Smart Car market and the challenges it is strategically facing.