The Question For The Grade Only

2. Justification for the new product—you should incorporate aspects from your earlier analysis

into your rationale.

1. What unmet need will you be satisfying?

· Marking it more accessible

· Subtle, universal scent for everyone

2. How does this target market differ from your original target?

· Young professionals, late college/ post grad. Not luxury

3. Justify the potential of this market.

· these people do not want/ can’t pay high prices

· they are tinding their identify

4. What competitive strategy (Porter’s generic strategy and warfare strategy) will you be pursuing in this market and how will your product achieve a competitive advantage? – Differentiation, new fragrance

3. Prices

a. What introductory pricing strategy will you use for your new product (penetration vs. skimming)? Explain how this supports your objectives and strategy for competitive advantage. What specific price do you plan to charge?

b. How elastic is the product category? How do you anticipate that competitors will react?

Roller $ 17

6 OZ body spray $17

2.5 OZ $55

4.2 OZ $ 70

Clean, earthy sent

****Must APA style; These articles must come from one of the following major business publications (WSJ, Bloomberg BusinessWeek, Fortune, Forbes, Advertising Age, New York Times, Washington Post, Fast Company, and Time These articles should have been written within the last 5 years.

****Must help check grammatical errors!!!!!