Assignment Task: New Product or New Service - Global
Step 1: Identity New product / Service as your starting point of Report.
Introduction where explain the new product, significance of the product in the market. Reason being introduction of the service/product
Why you want to introduce?
A) Customer need or your personal thought
Why this product is important. In the market
Why this might take position in market or is Imp generic reasons but 3 different perspectives.
1. Competition
- Global
- Market/local
- Consider all your 8P's
2. Environmental and production - Introductions
- Comparison between existing and new product service on the Environment and ethical basis.
Eg: Production process, product disposal packing etc.
3. Demand forecast of your product
Use data as an evidence to support your answer
Also identify your product/service is elastic demand (more sensitivity) or inelastic demand (less sensitive)
4. Segmentation
5. Target market
6. Market positioning
7. Conclusion
8. Reference
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