Use the Marketing Concept to create a new and innovative idea for a candy or chocolate or some other edible product. You must create a presentation showing all required information. two steps of the Marketing Concept 1. Identify your target market 2. Create a marketing mix customized for that group To begin (after you have thought of your product), list three detailed potential target markets, from which you will select one on which to base your marketing mix, like male soccer players ages 14-19 or women ages 30-45 on low calorie diets, male and female teenagers who go camping on a regular basis, or Pennsylvanians 50 and over, for example. Select one of the potential market segments you named above as your TARGET MARKET. Create your Marketing Mix with that group in mind. 1 Background information used to determine product idea. How or why did you come up with this idea? Is there a need or is it just something you’d like to have, etc.? How did you get from brainstorming to the final idea? 2. Marketing Concept and the two steps to implementing it 3. Description of selected target market incorporating characteristics 4. Accurate explanation of which two segmentation (behavioral segmentation strategy and Demographic segmentation) bases you used when identifying which characteristics or your target market 5- Product name 6. Detailed and labeled description of at least 4 physical characteristics of product like flavor options, dimensions, shapes, quantity in package offerings, temperature, shelf life, etc. 7. Thorough description of packaging design like materials, colors, label, etc. of candy wrapper and/or box – whatever applies to your product 8. Image of packaging – may be hand drawn 9. Explanation of at two aspects / considerations used when making decisions on the type of packaging to be used. Label the categories and apply them to your packaging decisions. Don’t just copy the definitions. See https://qualityinspection.org/product-packaging-china/ for list of aspects. 10. Suggested retail price (why this price – keep in mind introduction phase) and . three competitors’ prices for equivalent product or weight and . how you considered those prices when setting your retail price 11. Description/name of at least three places at which the product will be offered and in depth rationale for why you chose each one and at least one of those must be unique, creative "place" other than a retail chain 12. Introductory promotion campaign How will you introduce the product? What will the display look like? Where will it be located? Where will it be located within that location? What unique ideas will it include?
