Identify your target markets using the appropriate base/variables under any of the relevant bases of segmentation.
Provide a detailed description of your target market in terms of their size and growth potential to justify your selection of target segment/s.
Use a perceptual map to describe intended positioning.
Develop a positioning statement that communicates the unique value proposition and differentiation of your product.
Discuss on the first FOUR(4) stages of the New Product Development Process for your new product – use diagrams to describe your new product idea or concept.
Using the Product Life Cycle, determine the appropriate strategy for your marketing mix.
Describe the product features in detail of your new product – match it against the list of benefits each feature offers.
Select a suitable brand name for your product – explain how this brand name fulfills some of the criteria of a good brand name.
Develop appropriate packaging and labeling details that are relevant to your new product.
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