Estimation of the potential market size

Assignment Help Marketing Management
Reference no: EM13229530

You are a team of product managers who were asked to prepare a proposal on an innovation (that you invent) which has business potential in the marketplace. Your task is to present a concept for a creative product or service that is resolved (i.e. concrete enough to be introduced into the market). You are required to critically analyse the key trends within the current marketplace and contextualise the role your product/service has within it. Drawing on your market analysis, critically evaluate the viability of your innovation. Your arguments should be justified, using a range of judiciously selected academic and credible industry sources.

Innovation Proposal:

The following is a list of suggestions; these suggestions are by no means exhaustive and you are not required to discuss all of them. The use of theory and evidence to support your arguments is highly recommended.

1) On overview of the market/ industry relevant to your innovation

2) Key attributes and advantages of the innovation in order to highlight the reasons of why you think your innovation has a good chance to succeed

3) Possible key disadvantages/risk of the innovation

4) Product innovation charter

5) Estimation of the potential market size and expected market growth. An option is to use the ATAR model or any other model that estimates market potential/ profit/sales etc. of innovations

6) Estimated costs of the innovation

7) Positioning of the innovation and identification of suitable target group(s)

8) Market testing models

9) Launching strategy

10) Marketing mix strategy (product, place, distribution and promotion)

11) Possible competition (direct/ indirect, e.g substitute products)

12) Branding strategy

Reference no: EM13229530

Questions Cloud

What was the speed of felix in kilometers per second : In 2012, Felix Baumgartner jumped from space 36.6 km above New Mexico he reached a speed of 834 mph in 4 minutes and 19 seconds. What was his speed in Kilometers per second and how many miles was he above the ground
Determine the water of crystallizatioin x : Plaster of Paris, CsSO4 x XH2O, is a fractional hydrate; that is, one water molecule attaches to more than one formula unit. If a 2.002-g sample has a mass of 1.878 g after hearing, find the water of crystallizatioin (X), and write the formula for..
Explain determine whether a molecule or ion will exhibit : How can you determine whether a molecule or ion will exhibit delocalized bonding?
Explain average bond enthalpies : 1. Using average bond enthalpies, predict which of the following reactions will be most exothermic:
Estimation of the potential market size : Estimation of the potential market size and expected market growth. An option is to use the ATAR model or any other model that estimates market potential/ profit/sales etc. of innovations
Compute the inverse laplace transform of the function : 1. Determine Laplace transform of (2-2e^-4t)u(t) 2. Determine if x(t) = 9cos(2t)+4sin(pi t) is periodic; if periodic, calculate the period. 3. Compute the inverse Laplace transform of X(s)= (s+2)/(s^2+ 7s + 12).
Explain what molarity of aqueous aluminum sulfate solution : What molarity of aqueous aluminum sulfate solution can be expected to show the same conductivity as 0.015 M Na2SO4 at 18,000 units?
Compute the rate constant k to 2 decimal places : If the initial concentration of A=2.5 mol/L, the initial [B]=1.4 mol/L, and the rate =0.29 moles of product per liter per minute (M/min). Calculate the rate constant K to 2 decimal places.
The oxide of which of the metals the greatest lattice energy : The oxide of which of the following metals should have the greatest lattice energy?

Reviews

Write a Review

Marketing Management Questions & Answers

  Integrated marketing communication

Developing an IMC plan of Amazon that aims to create awareness and knowledge amongst Singaporean  consumers of the ethics involved in buying clothing made from Bangladeshi factories  .

  Multiple choice questions on e-commerce

The assignment in Computer Science or Information Technology is about multiple choice questions, particularly in e-commerce. Questions such as types of e-commerce websites, commercial websites, disintermediation, Platform for Piracy, the data that ca..

  Balanced scorecard for red lobster

The assignment in marketing is about Red Lobster, which is one US and Canada's most loved seafood restaurant. It has hundreds of outlets in US and Canada and it now wants to expand further. The approach adopted by Red Lobster has been discussed in fu..

  Marketing plan - marketing audit, swot and smart report

The assignment in marketing is about preparing a marketing plan. As part of marketing plan, the SWOT analysis, assessing the competitive position, identifying critical competitive issues, marketing objectives, strategy and actions have been suggested..

  Marketing plan

Marketing deals with preparing a marketing plan for either an existing product or a new product. Various aspects about launching a new product into the market are discussed ranging from the industry the product belongs to, goals and vision of the com..

  Yamato corporation analysis - harvard case study

Please refer to the PDF for the Case Study and questions.The case study from Harvard Business School is about Yamato Corporation, a parcel delivery company which provides door to door delivery in Japan.

  Marketing plan - create a new product

The assignment in marketing is about competitive analysis for a new product namely "heated insoles". These heated insoles can be put in shoes and they can protect the wearer's feet by keeping them warm during cold winters.

  Report on digital marketing strategy for a website

Promotion strategies of  the one's own developed website

  Integrated marketing campaign of mccafe

Integrated marketing campaign for McDonald's McCafe. McCafe has been launched in Canada. This is a case study which involves the use of digital marketing and social media marketing apart from regular marketing such as TV and radio. All these more are..

  New product development at adidas

In this paper, the researcher also determines the different kind of practices used by Adidas to manufacture shoes for its customers.

  Managing services in competitive environment

Services can be defined as separately identifiable, intangible activities which provide want-satisfaction when marketed to household consumers and/or industrial users.

  Prepare a marketing plan

A marketing plan is an essential tool for any marketer, providing direction for a brand, product or organization. A marketing plan describes the marketing environment, marketing objectives and marketing strategies.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd