MARS501: Product Proposal
Stream/TA Enter the stream number for your studio and TA’s name.
Student name Enter your name
Student ID# Enter your ID#
Product
Enter your product name
Product(s)/service description Describe your product(s) or service in full. What is it (core & augmented layers), what problem does it solve, what does it help you do, what needs does it meet? Create a SWOT analysis to place your product in the marketplace.
Target market Using segmenting methods, describe at least 2 distinct markets for your product or service. OR, if your offering is a niche market, describe and defend your position for creating an offering that only a single segment would buy. Discuss why the above target markets are worth pursuing (hint: are they profitable?)
Use accessible data to determine marketplace size and demand for your product.
Pricing Outline what price you will charge for your product. Explain why this is appropriate for your offering and target market(s) based on preliminary research. Justify the price using theory from class on pricing strategies and research on related products in this category.