My task is to come up with a new product for a marketing report.

The product I came up with is a contact lens you put in that records everything you do when you have them in so you can watch and listen to them later on your tv. Remember this product doesn't exist yet but my job was to come up with a product to sell and explain how i'm going to sell it. These following questions are what I need to write in my report:

Describe your good or service. Emphasize unique or innovative features. Also discuss

protection by patent, copyright or other legal or strategic means.

Research Needs :

Identify information you will need prior to introducing your product concept. Why do

you need this information? How will you get this information? Can you collect it

yourself?

Marketing Strategy

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Communicate your desired product or service position relative to existing competitive

offerings and discuss perceptual issues relevant to positioning your offering. Please

discuss your segmentation, targeting and positioning strategy (i.e.,

how you plan to attain your desired product or service position with the marketing mix/4Ps) in detail.

Questions you must address:

How I selected the target market(s)?

How I wish to position my offering for the target market(s)?

What would be an appropriate perceptual map?

Describe in detail the marketing mix that will support your marketing strategy