Overview
(11 pages of pure content-NOT INCLUDING TITLE AND REFERENCE PAGE) (APA format) (in-text citation) (No Plagiarism)
Must cite: Christopher, D. A., Geesey, J. J., & Chickering, L. (2024). Exploring marketing analysis and strategy with a biblical perspective. Alpha and Omega Publishers LLC.
Consider some of the products you currently own. Are there any that you wish had additional features or improved functionality? What if that one product would just do [fill in the blank]! Alternatively, perhaps you've thought of an entirely new product idea. One that, to the best of your knowledge, is not currently available but is technically feasible. One that would fulfill an unmet need or, moreover, create a need.
Your task for this assignment is to identify an entirely new or improvement to an existing product. Don't rely on your instructor for ideas! We want you to engage your creative problem solving abilities--a process known as "ideation" in marketing. The product idea you select will be used for all three parts of the final marketing plan to be developed and submitted as part of the course requirements.
For Part 1, you must develop a market opportunity analysis. This should include the following:
- Need, real or perceived, your product idea will fulfill or create.
- Rationale for the need, including supporting secondary (Internet-based) research--note this should not just be based on personal opinion. You must support your rationale with verifiable facts and as much data as possible. I will be looking for a thorough, well-vetted, rationale.
- Business case for your product idea. This should include an estimate of market potential in terms of sales revenue and/or units to be sold, a pro forma (projected) profit and loss statement 5 years into the future, and an estimate of start-up as well as ongoing production and marketing expenses.
- Technical limitations. If your product idea is not technically feasible, you don't have a product. You have a fantasy. Your product idea must be realistically feasible using existing technology, or technology which is currently in development and has been proven to work.
The body of this paper should be at least 11 pages, double-spaced, using APA format. It should be submitted with a cover page, table of contents, references page, and appendices as needed (none of which are included in the 11 page minimum). The font should be standard 12-point, and margins should be one inch. It must be supported with outside research citing a minimum of six different sources. Only one of these sources can be the Marketing Strategy & Analysis with a Biblical Perspective textbook.