Describe and analyze potential buyers in terms of demographics and psychographics.

New Product Market Analysis

Choose a new product and follow the outline below for this week’s assignment.

• Industry/Company Review
• • Describe the industry in which your product competes.
  • Provide a snapshot of the company that owns the brand.
• Product Review
• • Describe the product that is the focus of your marketing plan.
• Competitive Analysis
• • Identify and assess the important direct/indirect competitors for the product.
• Consumer Analysis
• • Describe and analyze potential buyers in terms of demographics and psychographics.
• Problems and Opportunities
• • Identify and analyze major problems and opportunities based on situation analysis and primary research.
• Target Market Profile
• • Describe your target market for this new marketing plan and explain why this market is relevant and strong for your brand of product.

Support your paper with a minimum of three scholarly/peer-reviewed resources published in the last 5 years. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.

References

Huang, S.-Y. (2016). Building up new product development strategy by product pricing and marketing analysis chart. 2016 International Conference on Advanced Materials for Science and Engineering (ICAMSE), Advanced Materials for Science and Engineering (ICAMSE), International Conference On, 471–474

Crawford, C. M. (1980). Defining the charter for product innovation. Sloan Management Review (Pre-1986), 22(1), 3.

REQUIREMENTS

4 pages, Double Spacing Career Institute of Florida MBA 674

Masters Business

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