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Optional, as your instructor directs: On your own or working with one or more classmates, conduct a search of social media and websites to see
Optional, as your instructor directs: On your own or working with one or more classmates, conduct a search of social media and websites to see what consumers or business customers say about goods or services like yours. Look at a few product reviews, comments about businesses marketing products like yours, and news articles about these companies and the industry. What problems do customers appear to be solving by buying a product similar to your own? What do customers say they like and dislike about other products, what value do they perceive, and what does this mean for possible pricing strategies? What trends in competition can you identify from your research, such as customer complaints plaguing a competitor or new products being introduced to address new needs? Plan a brief ten minute ?presentation or write ?paragraphs about your findings and how you can use this information to improve your marketing plan.
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