Content:

Product description: Start with a very brief description of the product. Keep in mind that the im

mediate customer and the end-user may not be the same. For example, if a consumer product is be sold to consumers by retailers, then the needs of both the immediate customer (in this case the retailer and, possibly, a distributor) and the end-user (the consumer in this case) must be met. What requirements will the immediate customer have? What requirements will the ultimate customer have (if different from the immediate customer)?

A similar issue can exist in B2B sales. The person who makes the "buy" decision may not actually use the product.

If the product is being sold directly to the end user, then this distinction is irrelevant.

What Is the purpose of your team? What is your team attempting to do?

Our Team is developing in researching Life Science to new laboratory in their warehouse. This will expand their operations in the company and consumers by having the resources in having products sent to them to be tested for the consumer. FDA testing which will take place once products are sent to the laboratory creating an additional service for the life science company.

Perceptual Mapping

Objective:

• Students will visualize the competition by a perceptual map.

Methodology:

Teams must construct a perceptual map that includes 5 to 8 competitors of the new product idea noting visually where each resides relative to the others on the two salient attributes for your target market. Include where the proposed product idea will reside with a brief (i.e., one paragraph) written description of the map. Keep in mind that it is not mathematically possible for all competitors to be above average or below average on one of the attributes.

Questions

LifeScience Logistics's possible addition of a pharmaceutical drug testing laboratory by perceptual map procedure