Assessment 5 ?? Determine a new market for an existing product an
Assessment 5
?? Determine a new market for an existing product and submit your concept in the form of a 15- to 20-slide Microsoft PowerPoint presentation.
Creatively meeting the needs of customers is an important aspect of any businesses. Finding new customers for an existing product is one variable that can make a company successful. This assessment provides an opportunity for you to put consumer behavior theories into practice using a real-life example.
?? Questions to Consider
To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community.
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?? Many companies are good at creating more efficient versions of existing products but often have trouble generating new products that are innovative and fit with changing consumer interests. Consider the following questions as they apply to a company for which you have worked or currently work: o How could management staff in the company encourage the creation of new products that fit customers’ needs?o What are specific changes or improvements the company could make to better determine customer wants and needs?o What are practical examples of how management staff could adjust the organization so that new product ideas could become a reality within the organization? Obviously, money is always an issue for companies. Hence, considering the company’s size, think of reasonable ways the company could spur innovation.
?? Assessment Instructions
Determine a new market for an existing product and submit your concept in the form of a 15- to 20-slide Microsoft PowerPoint presentation.
You will first need to select a product on which to base your presentation. You may wish to view the Choosing a Product ?? Topic Selection Capella multimedia presentation linked in the Resources for information on how to choose a product to use in your presentation.
Once you have selected a product, create a presentation that completes the following:
?? Describe the product or service you selected.?? Examine and describe the market segmentation information. This includes the demographics and psychographics of the existing customers for this product.?? Assess ways the product would have to be adapted to meet the needs of the new customers.?? Describe the demographic profile of the new customers.?? Describe the new market segment you plan to reach.?? Develop a strategy for pricing this item to attract this new clientele.
Your presentation should comply with the following format and style requirements. Tutorials for using Microsoft PowerPoint are available in the Supplemental Resources in the left navigation menu.
Length: 15 to 20 PowerPoint slides.
Style: The text portion of the presentation must follow APA guidelines. These style guidelines do not necessarily apply to charts, diagrams, or tables.
Writing and Grammar: Make certain that all project components are professionally written and free of grammar and spelling errors.
References: You must use proper APA style and formatting when citing and creating references for your sources. Include a complete list of references, including books, Web sites, articles, and other resources.
Submissions: Use Microsoft PowerPoint.
Consumer Behavior Presentation Scoring Guide
Consumer Behavior Presentation Scoring Guide Grading Rubric
Criteria
Non-performance
Basic
Proficient
Distinguished
Examine a market segmentation and potential customers for the use of a product.
Does not identify a marketsegmentation and potential customers for the use of a product.
Identifies but does not examine a marketsegmentation and potential customers for the use of a product.
Examines a marketsegmentation and potential customers for the use of a product.
Examines a marketsegmentation and potential customers for the use of a product, and clearly explains both by providing concrete real-world examples.
Assess a company’s strategy to market a product, based on customer behavior concepts.
Does not identify a company’s strategy to market a product, based on customer behavior concepts.
Identifies but does not assess a company’s strategy to market a product, based on customer behavior concepts.
Assesses a company’s strategy to market a product, based on customer behavior concepts.
Assesses a company’s strategy to market a product, based on customer behavior concepts, and identifies a new strategy.
Analyze strategies and concepts that influence consumer behavior.
Does not analyze strategies and concepts that influence consumer behavior.
Analyzes either strategies or concepts that influence consumer behavior.
Analyzes strategies and concepts that influence consumer behavior.
Analyzes strategies and concepts that influence consumer behavior, and evaluates the factors that make each strategy successful.
Develop a strategy to market an existing product to a new market segment and customer.
Does not develop a strategy to market an existing product to a new market segment and customer.
Develops a partial strategy to market an existing product to a new market segment and customer.
Develops a strategy to market an existing product to a new market segment and customer.
Develops a strategy to market an existing product to a new market segment and customer, and predicts the likelihood of success.
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