Marketing Management-Week 2 Assignment

Product Development and Market Demand In the first section of the consultant’s report, you determined and discussed the total market demand and the market share of some of the current competitors, and you discussed current price points. You also identified where, in the positioning matrix, the JGJ, Inc. offering should fit based on an unsatisfied need in the market. After determining “where” in the market JGJ, Inc. will compete based on the positioning matrix, you will now determine “how” based on developing a specific offering that fits the selected segment as shown on the positioning matrix. In this section of the consultant’s report, you will identify and describe the characteristics of the proposed offering that will make it fit the previously identified preferred segment of the market You will be the creative genius in the project, coming up with what will be offered and designing the offering—all of the specifications and features necessary to make it different and successful. The offering you design must fit the parameters of the market segment as you defined it. In other words, if the target opening was in the high end, high personal touch part of the market, then you would need to design an offering that had those characteristics and not a low price option version with high levels of automation. You will also need to determine the market demand in the desired segment so JGJ Inc. can determine if it can make a reasonable return on investment. You will need to fully analyze the market for current competitors and their demand, and indicate why your projected demand is accurate. You only need to make an objective forecast of demand for the recommended part of the market, and you will provide significant quantitative data to support your projection. You also need to describe the method of your analysis to determine the forecasted demand. You do not need to determine or comment on the required capital investment or the cost of producing or delivering the offering. Upon successful completion of this discussion, you will be able to: • Create product development strategies and market demand estimates. • Assess the market structure to determine the crucial factors influencing the marketing strategy.

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