Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In this section you should include all the information that will help with your selection of a new product. You need to understand the organization,

In this section you should include all the information that will help with your selection of a new product. You need to understand the organization, its current products, target market and competition to select an appropriate new product. This section should include the following information
Company Description:
Provide an overview of the organization you have chosen including all the following information. Brief description and history of the company, how long have they been in business, who are their main competitors and how big are they compared to these competitors? Company Mission / Vision: this will help you understand where the company wants to go and in what markets it wants to be in?
Current product
A detailed listing of the companys current products. This should help you to understand the range of items they produce/sell and how they all fit together. This will be helpful in selecting a new product that fits with this companies current product line.
Current Target market:
In a chart format please identify the current target market for the organization, using information from Chapter 6 pages 144-147 identify this selection based on demographic, geographic, psychographic, and behavioral components. Provide some justification as to why you think this is the companies current Target Market.
Customer Decision Making Journey
Using information covered in chapter 3 Pages 65-70 describe the typical decision-making process for these products. You should go through each step in the process in detail and suggest which steps are most important for the company to influence potential consumers. (Problem Recognition, Information Search, Evaluation of Alternatives, Purchase Decision, Post Purchase Behavior)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Bears Of The World Ecology Conservation And Management

Authors: Vincenzo Penteriani, Mario Melletti

1st Edition

1108483526, 978-1108483520

More Books

Students also viewed these General Management questions