You want to either create a product or service that doesn't exist (for example, a dishwashing robot) or you can use a new product or service that has just recently been launched. It is fine if you want to launch a new product or service for a company that you operate or are planning to start, for an organization for which you work, or for a nonprofit. (It is fine to create a marketing plan of the company you currently work for but keep in mind that you do not want to use any of the materials if the firm already has a marketing plan.) Take great care in the choice of your product or service because this product or service will be the basis of the course project for the rest of the course. Please read all of the following information carefully so you can be successful For this week's section of the project you want to complete the product-service identification.
Provide substantial details about the product characteristics, features, and benefits. You should not consider or discuss pricing, promotional activities, or distribution/channel matters at this time. Begin by brainstorming a list of possible topics.
Identify a few business problems or challenges that you might like to address. One possibility for selecting a topic is to draw from your own life, either past or present. You might revisit a business problem you have had to solve at a previous job, or you might decide to develop a marketing plan for a local product or service. You could also rely on current events for inspiration. You might pretend you are the CEO of a company that is in the news because it is faltering or expanding. You could also rely completely on your own imagination. Have you always had a great idea for a business or a product? Now is your chance to outline a business development plan or to pretend your product is already a reality and develop a marketing plan for it.