You are preparing for the launch of a new product. It is a combination microwave oven + convection oven + steam oven that will be paired with an optional food subscription service. The unit will be a countertop design, run on electricity and have a manufacturing cost of 300 USD. The unit will have a QR code scanner so that the pre-packaged food can be placed inside and the unit will know how to cook it.

1. What is your primary and secondary market segmentation strategy rationale, and why did you select each of these approaches?

2. Describe your top two market segments and why you selected them.

3. What is the most likely buyer behavior model for this purchase? Why? (Focus more on the rationale for your identified buyer behavior model than describing the model itself.)

Pick one specific market segment you identified above and answer the following questions:

4. Specific selected market segment: _______________________

5. Design a pricing strategy for the oven AND the food service. Explain why your strategy would change the behavior of your target customer. (The pricing strategy for the oven, and the pricing strategy for the food service.)

6. Design a distribution strategy for the oven and the food service. Justify your choices and be sure to connect back to the customer segment you selected. (The information you share here is what is important. Convey your ideas and potential to change the behavior of the target customer.)

7. Design a promotional strategy for the oven and the food service. Include what message you plan to use, and the format and delivery methods for that message. Of the five components of a promotional plan, which two do you think would be the most effective, and how would you use them?

8. Describe your branding strategy and the ideas you want to include in your brand.

9. In constructing a budget for this project, your goals would be to minimize the amount of time to get initial sales, minimize the amount of cash consumed, and minimize time to break even. Among these priorities, what would you focus on to reduce the amount of cash needed to launch this product and make it a financial success? What do you see as the biggest sources of risk and how would you mitigate these risks?