What is the mission/vision statement for your company? What are two financial and two non-financial high-level goals for your company?
Describe in detail the product (approved by your instructor) you plan to introduce to your target market.
Where is your product in the product life cycle (PLC)? What is a point of differentiation of your product (vs. the major competitor)? How does it bring more value to your target market(s) (vs. the major competitor)?
How will you position your product to your target market?
What is your branding strategy (which method will you use)? Why do you believe this strategy will ensure success?
Using the tenets of the new product development process (NPDP), when will you develop a prototype of your product? When and where will it be tested? How many levels of testing do you plan to do?
Show a timeline to accomplish all of the above (assuming your product concept began at the beginning of this course and needs to be ready for the market eight months from now). Explain the high- level tasks that need to be accomplished (e.g., Product concept approval, begin prototype design, begin testing, etc.) from product concept to the point of being ready to implement in the marketplace.
