Description
Choose a new product and follow the outline below for this week’s assignment.
- Industry/Company Review
- Describe the industry in which your product competes.
- Provide a snapshot of the company that owns the brand.
- Product Review
- Describe the product that is the focus of your marketing plan.
- Competitive Analysis
- Identify and assess the important direct/indirect competitors for the product.
- Consumer Analysis
- Describe and analyze potential buyers in terms of demographics and psychographics.
- Problems and Opportunities
- Identify and analyze major problems and opportunities based on situation analysis and primary research.
- Target Market Profile
- Describe your target market for this new marketing plan and explain why this market is relevant and strong for your brand of product.
Support your paper with a minimum of three scholarly/peer-reviewed resources published in the last 5 years. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.
References
Huang, S.-Y. (2016). Building up new product development strategy by product pricing and marketing analysis chart. 2016 International Conference on Advanced Materials for Science and Engineering (ICAMSE), Advanced Materials for Science and Engineering (ICAMSE), International Conference On, 471–474
Crawford, C. M. (1980). Defining the charter for product innovation. Sloan Management Review (Pre-1986), 22(1), 3.
Explanation & Answer
Attached.
New Product Market Analysis - Outline
Thesis statement: Hewlett Packard is a company in the computer hardware and software
industry. The company is one of the most successful in the United States. It is at the forefront of
utilizing technological advances for the design and production of products to meet changing
consumer tastes and preferences.
The paper addresses New Product Market Analysis as follows:
I.
II.
Industry/Company Review
Product Review
III.
Competitive Analysis
IV.
Consumer Analysis
V.
VI.
Problems and Opportunities
Target Market Profile
Running head: NEW PRODUCT MARKET ANALYSIS
New Product Market Analysis
Name
Institution
1
NEW PRODUCT MARKET ANALYSIS
2
New Product Market Analysis
Industry/Company Review
Hewlett Packard is a company in the computer hardware and software industry. The
company is one of the most successful in the United States. It is at the forefront of utilizing
technological advances for the design and production of products to meet changing consumer
tastes and preferences (Peterson, 2019). HP is committed to meeting the needs of consumers and
consequently applies advanced technologies for the design and production of its computer
hardware and software. The company is famous for its superior products. It deals with the design
and supply of computer hardware and applications. It also deals in the as well as the
development of technology infrastructure across the globe. HP also deals in the production of
printing and scanning devices as well as other suppliers related to printers and scanners. It is
famous for its application of the latest technologies in the computing, printing and scanning
segments
Product Review
HP seeks to apply the latest technologies in computing, printing and scanning sectors to
design and manufacture one of i...