Use the same company from your assignment.
Your company has decided to launch a new line of products.
Create a 1,400-word report and include the following information:
• Choose the target market for your product, and describe your target market in detail.
• Create a new product that would appeal to your market.
• Develop at least one question for each characteristic of the target market (demographic, geographic, psychographic, and behavioral) that will be important for you as you determine the marketing strategy for this new product.
• Recommend the best methods of conducting marketing research to answer these questions. Be sure to include why you chose these particular methods.
• Outline the steps you will take to bring your product to market from idea generation to commercialization, using a multi-step product development process. Individual Assignment: Marketing Research Paper
Purpose of Assignment
Marketing research is the foundation of marketing, and provides marketers with insight and information necessary to determine how to introduce new products and enter new markets. With the right information, marketers can reach solid conclusions and make the best decisions possible to reach their customers successfully, offer products and services that provide more value than the competitive alternative, and reduce their business risks.
Resources Required
Marketing Chapter 1, Marketing Chapter 5, Marketing Chapter 8, Marketing Chapter 10, Marketing Chapter 11