Professor Topper Unit 3 IP
At this time, you have identified a product or service concept with a full profile of attributes and benefits that management believes will potentially be a great opportunity for the company. You have also begun to focus on a limited set of positioning options for the new product or service.
Your next step in the new product or service development process is to understand category consumers and identify which segment(s) represent the best target for the new product or service.
To help sell management with your target designation, you need to prepare a PowerPoint presentation that incorporates the following elements:
Introduction: A brief review of the category the company is preparing to enter with a new product or service
New Product Features: A detailed description of the current new product or service configuration of features
Category User Profile: An overview of current category user profiles and the major subcategory segments representing one or more of the following:
Heavy versus light users of the category
Users of leading category brand(s) versus local/price brands
Different functional users in the category
Target Selection: Identification of which segment(s) represent the target. First, the target rationale must be provided as to how the target differs from the category as a whole in terms of behavior and then a rationale of why this difference makes the segment an important target
Target Profiling: A demographic, psychographic, and behavioral profiling of one or more target segments; if multiple targets are selected, a rationale is needed to describe why each target is important and how they differ behaviorally, demographically, and psychographically
Positioning the New Product or Service: For the target segment or each of the target segments, provide a statement of new brand positioning benefits that could be offered that potentially may provide the most compelling reason(s) for purchasing the new producixct or service
PRODUCT “Solar powered vehicles”
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