Essay about Developing a New Product

The fundamental purpose of this project is for the team to collaborate to find innovative solutions for unmet needs within our company, Digital Monitoring Product Inc. Group 26 will analyze and evaluate each individual’s contribution based on his or her potential for the greatest success within the company and within each of the concepts individual market. The paper will act as a guide and direct one through the process of Team 26’s voyage through each concept eventually leading up to

I. Executive Summary II. Situation Analysis o Market Summary  Target Market Demographics  Geographic  Demographics  Behavior Factors Market Needs Market Trends Market Growth o SWOT Analysis  Strengths  Weaknesses  Opportunities  Threats o Competition o Product Offering o Keys to Success o Critical Issues III. Marketing Strategy o Mission o Marketing Objectives o Financial Objectives o Target Markets o Positioning o Strategies o Marketing Mix o Marketing Research o Action Plan IV. Financials o o o V. Controls o o o VI. Summary Implementation Marketing Organization Contingency Planning Breakeven Analysis Sales Forecast Expense Forecast

The Hedo-Falls shower system is the first of its kind. This kind of shower has not been seen before in the market. It offers something totally unique with no direct competition. No company has been ambitious enough to integrate so much into a device that has remained virtually the same for decades. The developers at Quantum Studio decided to take a chance and tap into a new and exciting market. Their risk paid off greatly. There is no direct competition for the Hedo-Falls shower system at this time, but there is secondary competition, such as other basic shower units.

The consensus on the part of RGA high command is to search for these devices, and see if it is physically possible to put them out of commission. Due to the nature of the technology, as part of a safety precaution, Connelly and the boy scouts he was with were all issued prototype environmental suits and gasmasks with respirators that protects them from any harmful effects, and were given a set of tools with a special coating that would absorb the effects. And since the devices are said to be operating on a slightly different ‘frequency’ or dimension, where time runs one or two seconds slower, an ACP detector might be able to pick up these

Discuss what is meant by the term “customer orientation”. Illustrate with examples how companies demonstrate their customer orientation by reference to at least two elements of the marketing mix.

A long time ago, before WWII, the Great Depression, even the Civil War, a human’s life was very hard when they had to work to stay alive. Now the world is growing and population is increasing because of something people use every day. Technology. Technology has been around since the 1840’s, and the first computer was built in the 1910’s. One product that is still in the testing phase may be the key to safer technology is called Nightshock. This piece of technology is from an Adafruit kit, a common electronic device that can be coded and utilized to perform services. This piece of technology will be used for a service of protecting joggers at night, improving their quality of life by keeping them safe, and improving the world Economically, Socially,

When dealing with several segments, a product can target one segment to specifically to exactly what

During the war, detector gadgets contributed to great things in certain battlefields. Known as mine detectors, they are used to locate land mines hidden under these battlefields. detectors became a prominent tool that secures lives and makes fields safe for civilians.

If one is fortunate enough to be an United States citizen, the notion of landmines in combat may seem like primitive warfare technology. But, for the people in war torn Africa, one mistep has become a death sentence. Suprisingly, the United Nations estimates that 2 to 5 million new landmines are put into the ground each year. This statistic shows that landmines are the exact oppostite of primitive technology. On top of all that, as if the traditional variation was not enoough, they now manufacture plastic landmines. Which, of course, are even more difficult to detect.

First, we will analyze the targeted customer and the proposition designed by each company to attract them. In this part, there is a description of each market target and how each company has taken advantage of each unique position in the industry.

This process helps a firm or organisation in focusing its marketing effort towards a specific segment or a group of segments. Depending on the product, organisational goals, the size of the firm and the marketing resources available a firm may target only one ‘niche’ segment or alternatively focus on several related segments. Another method can be to start with one segment and add more when business grows successfully. Large companies often target all market segments and try to serve them by offering a large variety of products to suit all their needs, wants and demands.

It is another instance of taking the advantage of the location-sharing feature of Global Positioning System. Small GPS tracking devices can be easily carried to the field when a soldier is on duty. They help in navigating through difficult terrains and have a better understanding of their position. Moreover, reinforcements can be immediately sent from the base whenever there is urgency. Even as these GPS tracking devices claim to be secure, there have been instances of data being leaked out to the opposing forces. As these tracking devices can help locate a fellow soldier they can also give access to crucial information if the enemy had breached into the

Carefully evaluate the pros and cons of the segment markets and determine the market where the product has definite advantages over other

     Our assignment is to create and promote an innovative product. In developing a new product, we started with an idea generation. This is a systematic search for new-product ideas. Companies go through many ideas before they come to find some good ones. We had to do the same thing. We thought of many ideas on our own. It was more of an internal idea source as opposed to going outside of our partnership for ideas. Our first idea was a restaurant with half of it an actual restaurant and the other half an automobile tuner shop. The next idea was a new energy drink that would be less costly and better tasting. Our next idea came up when we were sitting

This paper will describe the details of a fictitious company and provided its background and will develop a marketing plan with a focus on segmenting and positioning its product and service. Thirdly, this paper will determine and decide upon at least one (1) foreign market for the product and service.; identify the marketing segment for the product and provide a rationale for this segment and discuss the target market and provide a rationale for this target market. Also, it will perform a SWOT analysis (strengths, weakness, opportunities, and threats) for the