Develop a new concept for a new product

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Reference no: EM133837029

Concept: New Product Marketing

For this project, you will develop a new concept for a new product or service. Your submission should be 250 to 500 words, and cite at least one reference.

As an inventor/entrepreneur, you are coming up with a new product idea or business concept, which can be based on other existing products or services but should be unique to this project. Please remember that you must have a tangible product to sell, so apps are not considered a product (for this project) unless they are associated with some other product component. Since services are intangible, you must have a clear pricing structure and a placement where the service will occur for it to be approved. Get professional assignment writing service now!

The following should be included:

Introduction for your Product (Do not include any history of the product; you are creating something new, and there is no history. Including history will result in an "F" grade).
Market Analysis of your Product (use citations to support your claims). Who are your target customers? Who are your competitors? Suppliers, Distributors, and Retailers should all be considered and included.
Competitive strategy for your Product (Market Share Goals, Changes in the Market (preferences/buying habits), Competition, Pricing Issues, Promotional Tactics, Product Differentiation, or Placement Problems)
SWOT Analysis Chart on your Product (You must create a 2 x 2 chart with at least 3 points in each box). (Remember to support your suggestions with articles; leave your opinion out) (Opinion = "F") Explain the chart with at least 1 paragraph.
Please note that products will be approved by the instructor, which means that if your product does not make sense or is too outlandish, you will need to complete this assignment again. To avoid this, think of practical, helpful, and realistic ideas to work on for this paper.

For this assignment, you need to submit an initial paper outlining the concept of your project, including a description of the new product, the target market, and a market analysis.

Reference no: EM133837029

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