QUESTION.

You are a part of a consultancy company that is an innovative leader in providing solutions on consumer products/services.

You are assigned by the company's CEO to come up with a new solution and present a proposal of the new solution concept that will appeal to the automobile industry. You will need to identify a real-world problem related to the automobile industry, and then work towards a creative and innovative solution of that problem.

Your proposed creative and innovative concept needs to be realistic and marketable within five (5) years.

Proposal needs to follow the format given below:

PART 1: IDEA EVALUATION (Choose any two of the techniques) & PRODUCT CONCEPT DESCRIPTION Use the following tools to evaluate your idea against other solutions: 1. Cost-benefit analysis 2. Decision trees 3. Evaluation matrix 4. Force field analysis 5. Sticking dots 6. SWOT analysis Show justification for why THIS solution was selected among the ideas that were generated Describe the product concept and how it will solve the problem Visual can be sketched by hand or drawn using available softwares.* Label each component accordingly Include the following:** Features Functions Technologies * Drawing can be very brief HERE. More details in the Poster **Be as detailed as possible. Avoid giving generic description of the product.

PART 2: MARKET IDENTIFICATION Justify your marketing strategies. a. Price b. Product/Package c. Place d. Promotion *Be as detailed as possible. Avoid giving generic description of the marketing strategies.

PART 3: COMPETITOR ANALYSIS Select TWO competitors who have products that could potentially solve the same problem that you are attempting to solve. Analyse the differences between the 3 different solutions.