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Assignment:
New Product or New Service - Global
Step 1: Identity New product / Service as your starting point of Report.
Introduction where explain the new product, significance of the product in the market. Reason being introduction of the service/product
Why you want to introduce?-> Customer need or your personal thought Why this product is important. In the market Why this might take position in market or is Imp generic reasons but 3 different perspectives.
1. Competition- global- market/local- Consider all your 8P's
2. Environmental and production - Introductions- Comparison between existing and new product service on the Environment and ethical basis.Eg:- Production process, product disposal packing etc.
3. Demand forecast of your product Use data as an evidence to support your answerAlso identify your product/service is elastic demand (more sensitivity) or inelastic demand (less sensitive)
4. Segmentation
5. Target market
6. Market positioning
7. Conclusion
8. Reference
marketing Management is the subject also dont take coffee example he just gave an example. I hope to get good marks, thanks
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