PlayStation (Target Audience)

Topic

PlayStation (Target Audience)

Instructions

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 minimum 1,050-word 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.

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:

  • Definition of product or service.
  • Description of product or service–marketing message.
  • Why the product or service needs to be introduced or refreshed (target audience).
  • Address competition in each region and how the new product or refresh provides a competitive advantage.
  • 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.

Answer preview

Video games have considered imperative in offering both educational and entertainment benefits to the consumers (Olthouse, 2009). Since the advanced technology is enabling the current and upcoming generations to enjoy the swiftness of convenience, flexibility, and high mobility of the emerging technological devices, the new PlayStation Jett-5 (PSJ-5) will be focused on using its multi-operational, multi-device, and multi-functional qualities to create highly appealing uniqueness to deliver learning and fun experiences in a completely new level.

Word count: 631