Case Study 1:

Create an idea for a new innovative product and complete every part of each section below

Part 1

Give it a creative business name. Write the product mission and vision statement.

Part 2: (4Ps)

1. Product Explain the wants/needs fulfilled by your product and/or service.
2. Price Explain how you will compete (price/quality/value), etc. and how much you will charge for your product and why.
3. Place Explain if you are selling B2C, B2B, C2C and how, where, and when you will make your products available to your targeted customers.
4. Promotion Explain how you will inform the marketplace of your product and/or service and how you will persuade them that it is the best choice.

Part 3 (SWOT):

Perform a SWOT Analysis of your product with 3 key points for each section.

1. Strengths - Describe three competive advantages your products and/or services have over competitors.
2. Weaknesses - Describe three disadvantages of your product and/or services versus those of your competitors.
3. Opportunities - Describe three potential new and/or unexplored markets for your products and/or services.
4. Threats - Describe three possible market conditions or unforseen circumstances that could interfere with your sales.