Each group will do a comprehensive review of the market potential for a new product of your choice. Note that you will choose an existing product that has been launched within the last two years, but you will be writing your report as if the product has not yet been introduced. Your task is to provide an overview of the market that this new product ‘will be entering’. Put yourself in the position of a market researcher at the company who has been tasked with providing senior management with the information they need to decide on a marketing strategy for this product. Tell your managers everything they need to know to make good decisions on how this product will be marketed. An outline of the topics that can be included in your paper is available in a separate document on Moodle. Remember, you are not preparing a marketing plan, you are looking at the environment in which your chosen product will be sold.
You will need to do significant secondary research for this paper, well beyond what you might glean from the website of the company. All sources of information should be clearly identified in a bibliography and footnotes used where appropriate. I will expect papers to have a minimum of five references. You must use the APA guidelines for citing references. Information on the APA system is available on the MSVU Library website
– A description of the product, its features and its benefits
– A profile of the target consumer, and why they would want the product or service
– Key trends: consumer, product, packaging, industry, distribution, retail