Chapter 10 discusses the process of new product development. For this discussion, identify a product or service introduced to the market in the last year and answer the following questions: First identify the product or service and describe it (e.g. Seamless, is a food delivery service that acts as a middleman between the consumer and restaurants, facilitating orders and charging the restaurants a fee for the service). Describe the industry, segment and niche (e.g. food service, food delivery, and upscale consumers). Then tell us who the target market customer is (e.g. working professionals, who are too busy to go out and who in some cases have their employer paying for their meals due to long work hours), and why it fills an unmet need in the market (e.g. restaurants who do not normally provide delivery service). Tell us if this industry is growing or contracting and support this with facts. Who is the competition? What makes this product or service different from the competition? Do a mini SWOT (See Ch.6for a refresher) - identify the strengths of this business or product, the weaknesses, the opportunities in the industry and the threats.

Then tell us if you think this product will be successful longer term (do not simply cite sales or revenues since inception, it could be a fad) and why.