Come up with a new product idea. This can be a brand$-$new idea that you have, or it can be an idea that has recently been developed by some company. The $$new$$ product can be any form of newness $($new to the world or just a modification to an existing product $$ but make it different from what is already available$).$

New Product Idea:

$-$ Brief description of the product and how it is new$/$different$.$

$-$ Explain why you might personally want to buy this product $($or why you would not$).$

$-$ What different variations of the product might be marketed $($e$.$g$.,$ different features, forms or specifications$)?$

Concept Testing:

$-$ Identify$/$profile the primary target market$($s$)$ for this product and why they would be interested in the new product $($e$.$g$.,$ what benefits they receive; what need is being filled$).$

$-$ Which concept$/$version of the product is likely to be most successful and why?

Marketing$/$Business Analysis:

$-$ Briefly discuss distribution and promotion for the product. Include a strategy to help build customer relationships and brand loyalty.

$-$ Do an estimated breakeven analysis $($using the breakeven formula$).$ Estimate a price and variable cost for each product and make up a reasonable amount of fixed costs. Then calculate the breakeven point $($showing how you got it$).$