Marketing Report for a New Product Offering
Choose a publicly traded company, and review the information provided on the company from their website, annual report, profile, etc. You may also search the CSU Online Library for information on your chosen company. Based on the information you gathered, select a potential new product that would fit well in the company’s current product line. Write a three to five page marketing report to the new product development manager of your chosen company. Explain why this product would be a good fit for the company. Make sure you include the following elements in your report:
1. Clearly describe the new product offering, classify it as a consumer or an industrial good, and explain the target market (i.e., potential consumer or industrial buyers) of the new product.
2. Explain three possible strategies the company could use to correctly position this new product. Explain if and how online marketing should be one of the strategies considered for this project
3. Describe the approach the company should follow in pricing this new product.
4. Describe the top three competitors for this new product, and provide possible solutions as to how the company can become the market leader
5. Use at least four scholarly resources in your report.