Problem: Introducing a New Product to the Market
Put yourself in the position of an entrepreneur who is developing a new product or service to introduce into the market. Briefly describe the product. Then develop the segmentation, targeting, and positioning strategy for marketing the new product. Be sure to discuss:
a) The overall strategy; why segmenting, targeting, and positioning are useful methodologies
b) Segmentation and targeting choices
c) Characteristics of the target market
d) Why that target market is attractive
e) The positioning strategy
Provide justifications, in the form of research, for your decisions and include your textbook and at least two references to credible sources outside of the course and its required readings/media. (The CSU-Global Library is a good place to find credible sources.)
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.