To set the foundation for your Portfolio, please include the following in your report:
- a description of your new product/service and why you selected it
- target market and description
- brief competitive review
- brief SWOT analysis
- how will you position the product within the target market?
1-2 pages that will focus on The Product Life Cycle and how it affects the product/service within your Portfolio.
1. what stage of the product life cycle do you think will be most critical to the success of your new venture? Why?
2. describe the anticipated shape of your product life cycle. What proactive measures will you take to deal with this?
3. what product or market modification strategies might you anticipate as your initiative moves through the cycle?
how to establish a Brand for your product/service.
You will complete a summary of no more than 1-2 pages that will focus on establishing and maintaining your Brand.
• describe the brand you will establish across as many dimensions as you think are relevant
- what will your brand association be? i.e. what is the one thing, above all else, that you want your product/service to be associated with?
- are there any particular branding strategies you will employ given your target market or competition?
- describe any packaging or labelling features, if applicable, and why are they appropriate given your strategy?
the Pricing Strategy for your product/service.
no more than 1-2 pages that will focus on establishing appropriate pricing. For this week's section, please include at a minimum the following in your report:
1. given the nature of your product/service, what strategic considerations do you think are important when setting your price?
2. what kind of objectives are most important for your product/service when setting the price? i.e. financial goals, perception, competitive, etc.
3. how sensitive do you think your buyers will be to changes in price?
4. what process do you think will be most suitable in setting price?
5. will any price adjustments be part of your strategy? If so, why?
Channel and Supply Chain Strategy. no more than 1-2 pages
• describe in general the type of channels you might utilize for your product/service? Why do you think it is appropriate?
- how do you think this channel strategy will help establish a competitive edge over your competition?
- given the nature of your product/service, how important will supply chain and logistics be to your product's profitability?
- what strategies might you employ to make supply chain as efficient and low cost as possible?
• Personal Selling and Sales Management. no more than 1-2 pages that will focus on this topic.
- what kind of sales force model do you think will work best for your new product/service, and why?
- how will your salespeople be compensated, and how might you organize the sales force for maximum coverage of your target market?
- how does your sales strategy integrate with your channel strategy, as previously documented?
- what type of training do you think your salespeople will require in order to be proficient in selling your product/service?