SECTION $2$ Marketing Mix $($Product$/$Price$)10\%-$ DUE FRIDAY NOVEMBER $24$TH AT $5$:$00$PM

Please provide all the key details about the new product you suggest for the company you have selected. This should include details about the new product and the suggested branding, packaging, and pricing. This section should include the following information

Product Ideal:

A description of the new product idea for the company you have been using throughout the project. Using information from Chapter $7$ Page $165$ provide a detailed explanation of this product using the three levels of a product $($Core$,$ Actual, Augmented$).$ As part of this section identify if this product will appeal to the company$$s current target market or a new different target market. If this product will appeal to a new target market include a chart of the new target audience including Demographic, psychographic and behavioral factors. Justify the use of the current target market or your selection of a new one.

Branding $/$ Packaging

Will this new product be branded identically to the current products or will it have a variation in its branding. Using information from chapter $7$ Pages $171-178$ discuss the branding strategy for this new product. Using information from pages $165-168$ discuss your packaging strategy for this new product. Be sure to justify these decisions and explain why this makes sense for the target market you selected and the company.

Pricing:

Using information from Chapter $9$ discuss what pricing strategies you will use. What overall strategies and what promotional strategies will you use. Depending on your product it might be appropriate to establish a suggested retail price. Justify why these decisions make sense based on the company$$s current product mix, the selected target audience, and your competition. THE PRODUCT I CHOOSE WAS Liberty Bicycles $$ St$.$ Catharines specialty bike store