MKT 500 Week 6 Discussion Are You Sitting on a Million Dollar Idea?
Are You Sitting on a Million Dollar Idea? - Watch the video Are You Sitting on a Million Dollar Idea? and answer the following questions:
Question oneÂ
·        What product would love to see revamped to meet your needs.  Or is there a new product that has not yet been created to meet your needs. Do not create a charity/non-profit as this will cause challenges in later discussion.
Question twoÂ
·        Using the bases of segmentation, define the target market for your new creation.Â
Question three
·        What are the barriers to entry for this revamped or new product?Â
Response to peerÂ
·        Read and respond to at least one (1) of your classmate’s posts. This can be a video or a written discussion post.
Here is my BILLION DOLLAR idea.
Click video above or  here to play video
NEW DISCUSSION POST:
Here is a new discussion post for this week. This is a challenge for the serious marketer. You only need to answer one discussion, but you are always welcome to answer both.
Here is an interesting, somewhat new product – prepackaged ice cubes. Let’s use this as an opportunity to work through an example of the product lifecycle.Â
Who is the first target market for this product in the introductory phase of the product lifecycle? As always, use the bases of segmentation to describe this target audience. It can be a consumer, business or institutional audience.
2. As this product moves into the growth stage of the product lifecycle, are there any new features, enhancements or improvements that you would recommend for these pre-packaged ice cubes? This is typically where a marketer starts to see competitors.
3. Finally, as this product moves into the maturity phase, the goal is to keep this business as long as possible. Are there any other new target markets that would make sense for this product?
4. Please reply to at least one other student.
Answers
Status NEW
Posted 16 Sep 2019 11:09 AM
My Price 5.00
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