Using the marketing process from Chapter 1 (below), your task is to go through the beginning of the 4 stages of marketing creating and using a fictional company that you create. Specifically, you have four tasks for this mini-project:
marketing
Description
Using the marketing process from Chapter 1 (below), your task is to go through the beginning of the 4 stages of marketing creating and using a fictional company that you create. Specifically, you have four tasks for this mini-project:
1) Identify needs and wants (list both) in the population that are being unmet.
2. Create your company and product (name them both) that is capable of meeting those needs
3. Tell me how you are segmenting the market (e.g. geographically, income, gender, etc.) and decide which segment you are going to target and why.
4. Describe how you will utilize the 4Ps for your project – what does your product do (how does it fill the need), how will you price it, where will it be available, and how will you promote it.
For this mini-project, feasibility is not necessarily important. Within reason. Don’t tell me your product lined with diamonds is going to be low cost or something. But what I mean is that you do not need to describe to me how your product would be engineered or how it would work. Only how it could potentially serve the unmet needs.
Please limit your mini-project to no more than 2 pages double spaced.
