28 Jun You have identified a product or service concept
Question
To go with the Uber driving answer… this is the additional assignment to that… due this evening that I’m having a hard time with
You have identified a product or service concept that potentially offers a great opportunity for the company. At this stage, your concept is still very broad, without specifications of all of its features.
Prepare a company memo of 2–3 pg length that will describe the process you have in mind for identifying the product or service features that will be incorporated in your new concept. In preparing the process, you need to include the following elements in your memo:
Provide a brief review of the category in which you are competing. Specify the attributes the category currently delivers to its users, as follows: What category attributes does your concept potentially fill that are not currently being fulfilled by existing products?
What would be a list of potential product or concept attributes that could be incorporated in your new concept?
Since not all attributes can be incorporated, discuss how the use of conjoint or discrete choice modeling research can be used to select the most powerful consumer features.
Assume that optimization research has been conducted. List the features that will be part of your new concept moving forward.
What are some of the potential ways your concept can be positioned (key benefit) with consumers? Provide a rationale for which positioning (benefit) you believe will be the most motivating to consumers.
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