Reference no: EM132227356

For purposes of this discussion board, you are asked to select a specific new product or service for discussion. This product must be different from any example already posted by your classmates. Your initial posting should consist of a minimum of 3 paragraphs, and any outside sources that you use must be appropriately cited. Your discussion should include: A brief (one paragraph) discussion of the new product. Remember, this product must be different from any example already posted by your classmates. Provide a link to the web site for this product. Identify and explain the environmental force(s) that created the demand and opportunity for this product. Examples of these factors would be: consumers changing their wants and needs (social); changes in technology that makes a new product economically feasible or desirable or renders an existing product obsolete (technology); the establishment of new government regulations or legislation (regulatory); changes in the economic landscape that affect consumer purchasing power and spending (economic); the entrance of a new competitor in the market or alternative forms of competition (competition). How does the new product satisfy the demand created by the environmental forces you identified? Be specific. Identify brand, product and generic competitors for this product. Remember, there are different types of competitors. For example, Coke and Pepsi would be considered “brand” competitors because they offer the same basic features and benefits at similar prices. However, Coke and Mountain Dew would be considered “product” competitors because they compete in the same product class (soft drinks). Additionally, Coke faces “generic” competitors such as water, tea, coffee and juice because these products satisfy the same basic need (thirst).