Reference no: EM131469109

Assignment

Your textbook emphasizes that marketing is not just a matter of taking a good or service and selling it, but of finding a need and filling it. Look around you-around your home, your job, or your neighborhood - do you see a need that is unfilled? If you're having trouble finding a need, try to remember the times you've said, "Somebody ought to do_____," or "Somebody ought to make______." That somebody is going to be you.

For this assignment, you are to identify a need and then imagine a good or service to fill that need (you will not actually create the actual good or service but you will come up with a unique idea to fill that need).

Fill the need you have identified by following the steps listed below. Write down what you would do at each step.

Action Items

Generate a new product idea.

Identify a need.

Describe the need.Image a unique idea of a good or service that will fill the need.

Describe your idea (good or service).

Name your idea (good or service).

Your document is to be formatted in a manner similar to previous assignments in this course.

Concept testing. Describe how you would test your concept.

Competitive pricing. Do some investigating (go to a retail outlet, visit a service, or do an Internet search). What are prices of similar goods or services? What would be an appropriate price for your new good or service? Explain why you set your price where you did (support your answer).

Create a one- to two-page document that includes the following sections:

Need

Identify and describe the need.

Idea

Describe your idea. Is it a good or a service? Name your idea.

Concept Testing

Describe how you would test your concept.

Pricing

What are prices of similar goods or services? What would be an appropriate price for your new good or service? Explain why you set your price where you did (support your answer).

Your document is to be formatted in a manner similar to previous assignments in this course.