Determine a new market for an existing product and submit your concept in the form of a 15- to 20-slide Microsoft PowerPoint presentation.

Introduction

Every company should attract new customers to existing products as well as create entirely new products. To that end, marketers hope to create products as ubiquitous as the iPod, or as recognizable as an Oreo. By understanding consumer behavior, marketers can meet that challenge and provide answers to consumers’ needs and wants while also generating a profit.

Preparation

You will first need to select a product on which to base your presentation. Your assessment involves choosing a product and developing a strategy to market the product to a new market segment. This multimedia presentation offers suggestions about how to choose a product. Note: If your device isn’t able to view this presentation (due to technological issues), you can click View Transcript to the lower left of the presentation window to read the content of the presentation.

• Choosing a Product – Topic Selection.

Instructions

Determine a new market for an existing product and submit your concept in the form of a 15- to 20-slide Microsoft PowerPoint presentation.

Once you have selected a product, create a presentation that completes the following:

• Describe the product or service you selected.
• Examine and describe the market segmentation information. This includes the demographics and psychographics of the existing customers for this product.
• Assess ways the product would have to be adapted to meet the needs of the new customers.
• Describe the demographic profile of the new customers.
• Describe the new market segment you plan to reach.
• Develop a strategy for pricing this item to attract this new clientele.

Your presentation should comply with the following format and style requirements. If you need help with PowerPoint visit Microsoft Tutorials.

• Length: 15 to 20 PowerPoint slides.
• Style: The text portion of the presentation must follow APA guidelines. These style guidelines do not necessarily apply to charts, diagrams, or tables.
• Writing and Grammar: Make certain that all project components are professionally written and free of grammar and spelling errors.
• References: You must use proper APA style and formatting when citing and creating references for your sources. Include a complete list of references, including books, Web sites, articles, and other resources. Visit Evidence and APA for help with APA.
• Submissions: Use Microsoft PowerPoint.

Competencies Measured

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

• Competency 1: Assess the role the customers assume to acquire, consume, and dispose of products and services.
  • Assess a company’s strategy to market a product, based on customer behavior concepts.
• Competency 2: Analyze consumer behavior.
  • Examine a market segmentation and potential customers for the use of a product.
• Competency 3: Assess the managerial application of customer behavior concepts.
  • Analyze strategies and concepts that influence consumer behavior.
  • Develop a strategy to market an existing product to a new market segment and customer.