Week 7 covers new product introductions as well as the branding and product life cycle. There are several stages in the new product introduction process and companies pay critical attention to these stages in order to introduce nearly perfect products. We can take lessons from past product failures and reflect on what went wrong and why. We will focus on new product introduction with extensive examples. We will also examine branding and alternative branding strategies. This will give you the chance to think about a branding strategy for your group project. Product life cycle is another concept that we examine this week. Different stages of the life cycle require different marketing objectives. We will consider the characteristics of each stage with examples.
It is recommended that you complete the accompanied readings from the course textbook that complements the lessons. The readings include content and additional examples that will allow you to achieve the indicated learning outcomes as indicated in your textbook for Chapters 10 and 11 and will cover content for Week 7. You will be expected to achieve learning outcomes LO4 and LO5 for Chapter 10 (Lesson 7.1), and LO1 (Lesson 7.2), LO3 (Lesson 7.3) and LO3 and LO4 (Lesson 7.4) for Chapter 11.