- Create product development strategies and market demand estimates.
- Assess the market structure to determine the crucial factors influencing the marketing strategy.
- Instructions
- Construct a proposal to JGJ Inc. of 1000 words (+/- 50 words) using at least 4 credible and objective sources not provided as resources in the course in your analysis, plus at least one source provided in the course reading list.
- Use the titles in the Market Analysis Report Template (attached) to provide structure for the following four elements in your consultants’ report:
- Product Development
- Key differentiating characteristics of the offering
- Analysis of demand in the market
- Market Segment Demand
- Quantitative data used to determine projected demand
- Methodology used to determine demand
- Product Development
- Detailed Requirements:
- Product Development
- Fully describe the offering that fits the positioning from the prior proposal. You need to state the specifications, characteristics, and/or features of the offering which will differentiate it from other competitors. You should focus on what your product is, not what the competitive offerings are because that was covered in the prior section.
- Remember that these weekly sections form one larger consultant’s report. Each section must be internally consistent with other sections of the paper regarding where and how your proposed offering fits the identified opening in the market. If you find that your prior positioning was incorrect or not suitable, you are allowed 100 additional words in this section of the report as an introduction to state what is being changed and why it was changed
- Do not describe the product development process except as you describe the product. This means there is no introduction to or discussion of the theory of the product development process. You are writing a report to executives who understand the process so it does not need to be discussed. Your consultant’s report immediately discusses the proposed product and why it is being offered as designed. You should briefly discuss how the offering will be finalized if you believe your initial idea is not final.
- Market Segment Demand
- Provide a quantitative analysis to determine demand in the segment of the market that your proposed offering will fill. Your client does not want market demand for the entire industry or category; it only wants the demand for the segment that is being targeted. For example, a company introducing a new diet cola would not discuss the demand for all beverages, it would only discuss the demand for diet colas. This section of your report will be highly quantitative and multiple charts and graphs are likely to be helpful in conveying your data; one chart or graph is required. Your analysis can be in dollars or units sold but it must result in a specific forecasted demand in the same type of measurement.
- Include at least one chart or graph indicating the current and projected demand
- Fully describe the methodology used in determining demand including data sets used, statistics or modeling formulas applied to the datasets to forecast future demand and any changes or modifications made to the formulas and resulting numbers based on your interpretation of them (e.g., rounding, adjustments to trends).
- Product Development
