Product and Market Development
**WRITER PLEASE SEE INSTRUCTION BELOW**
This assignment will be submitted to Turnitin®.
Instructions
1.Describe a product you like that you believe more people should purchase. As a marketer, how would you reposition the product in the customer’s mind to increase its purchase? Outline your strategy. Create a new tagline for this product.
**Note: Please review my expectations for the assignment. I expect your response to include 2 or more references from the APUS Library system or GOOGLE SCHOLAR (failure to include such references will detract from your grade on the assignment) and be presented in APA Format. Deliverable length is 2-pages excluding title and reference pages.
THIS WEEK LESSON OVERVIEW IS BELOW:
This week we will be looking at the risks and opportunities that the market presents to companies, and the strategies companies can use to mitigate these risk and take advantage of or create opportunities. In order to achieve this, we will discuss how product offerings are developed and what the product life cycle is. Last week we discussed market segmentation, target markets and positioning which ensure that companies provide relevant and valuable services and products to their customers. The heart of marketing lies in providing what your customers want and need. This week’s lesson builds on that understanding, by looking at how organizations can successfully align their products with their target markets, while maneuvering not only through the product lifecycle but also through the market lifecycle. At each stage of the life cycle, the company has to strategize how it will face the challenges and threats that the market and competitors pose, and it has to know how to detect and create opportunities.
Topics to be covered include:
• Market opportunities
• Developing new product offerings
• The product life cycle
