ASSIGNMENT: New Product Development & Branding
Complete the following:
1. Visit Proctor and Gamble's website, at www.pg.com or other company site and select any product to improve or extend, and determine an appropriate target audience. Look up your brand on Info Scout and summarize the current target audience and trends.
2. Imagine that you are asked to develop a new product idea to serve a new target market (you decide upon the new target market, and how that segment is different from the existing market.)
3. How will you change your product to meet the needs of this new target market? What makes your product new? (Hint: see the section on categories of "newness").
4. Explain how the 4 P's will be adjusted in your new marketing plan for your new product.
5. What is your branding strategy?