New product or a variation of an existing one

/in /by

Create a new product or a variation of an existing one.

 

  • Assess the market needs for this product or service.  What value does it offer?
  • Choose a target audience and include a description.
  • Develop a brief SWOT analysis.
  • Analyze the potential or existing competition.
  • Evaluate the potential growth rate. Look for information on similar products or services to come up with a growth rate over three years.

 

Develop a 5-question research survey instrument including potential answers for closed-ended questions and scalar questions that you will use for the final marketing plan. The questionnaire will be used to collect additional primary data about buyers. Set at least one goal for this survey. Why is it being conducted? How will the team benefit from the results in terms of planning and decision-making?

Leverage opportunities to demonstrate marketing management learning by using expert testimony and scholarly sources to support your points or definitions.