Product description. What is it? What is the function? What is the physical appearance?

In this paper, I would like you to take what you have learned so far and apply it to product development.

You can create your own take on a product or service, or you can develop a completely new product or service. It can be creative as long as you can provide solid reasoning to go with it. For example, say you want to splice the DNA of a wooly mammoth with a small animal to create mini woolies. It’s not real, but you could create a plan to market it.

If you were to create your own take on a product, it should be unique. For example, let’s say you wanted to develop a new shoe for Nike called the Jeffrey Force One. Why did you come up with this, and what will be some of the attributes? You can find guidelines below.

Include the following elements in your paper:

Product description. What is it? What is the function? What is the physical appearance?

Who are the likely customers?

Who are the key stakeholders to make this a success? What are their roles? For example, Dr. Moreau might be in charge of research and development, a key player in our success.

Create a SWOT analysis, using a grid.

Create a PESTLE analysis.

Who is your target market? Be as specific as possible. Remember our cycling example from class and the examples from Quiz 1 (demographics, geographics, behaviors, VALS).

What are your marketing objectives? For example, in Year 1,MW, LLC will sell 5,000 Mini Woolies, using price skimming and setting a price point of $19,999 per Mini Wooly. In Year 2, MW, LLC will increase sales by 10%, etc. Breakeven point and cost-based pricing will come later in the course. Your objectives should be more detailed than this.

What digital channels will you use in your marketing? How will you use the AIDA model, and will you rely on paid endorsements/influencers?

The paper must be in APA style (double spaced), 3-5 pages in length. Cite your sources in the text of the document, and include a reference page with your sources. AT LEAST THREE SOURCES. If you want to create a video assignment or a website, we can discuss this as a possible avenue

Requirements: 3 pages