New products and services are developed to solve specific problems. Provide a new product or service. Not an actual new product but one that you come up with. The product or service does not have to have a large market. Provide a couple of references to help justify your idea.
Paper needs to follow outline format. Recommend 3-5 pages single spaced with outline (headings and bullets) writing style.
1. What Problem does the product/service solve?
2. Competition – who are your competitors
3. SWOT
4. Why is this product/service important
5. Demographics:
· Age
· Gender
· Marital/relationship status
· Income
6. Psychographics:
· Personal activities
· Group activities
· How time is spent
7. Research – Provide a minimum of two articles to justify. One article can be substituted for 5 different individual responses to your product service idea.
8. Product/service name
9. Price of product/service
10. Conclusion – Why is this a good idea for a new product/service
11. References