PRODUCT AND TARGET MARKET PLANNING

Please select a foreign country and research a business opportunity for an American product or service you might introduce into that country. In this paper you should analyze and synthesize how the following variables may impact the success of this business venture/opportunity.
(1) PRODUCT CONCEPT: Identify the physical attributes, customer benefits, and competitive advantages of the product or service to be offered by the organization. Analyze geographic, economic, cultural, and legal factors that would influence offering a standardized or an adapted product for this market.
(2) PRODUCT LIFE CYCLE: Discuss economic, cultural, political, or technological factors that might affect the speed of movement of the product or service through the stages of the product life cycle (introduction, growth, maturity, and decline).
(3) TARGET MARKET: Describe the characteristic of potential customers in term of geographic location, demographics, media habits, consumer behavior patterns, and lifestyle activities.

SAMPLE SOLUTION

Lyft in Japan
Product Concept

Lyft is an on-demand transportation firm with headquarters in California. Launched in 2012, the company designs, markets, and operates an efficient transportation mobile app known as Lyft Car. It operates in more than 300 American cities including San Francisco, Los Angeles, and New York. Japan presents a wonderful business opportunity for Lyft | PLACE YOUR ORDER NOW AT writtask.com | its fuzzy pink mustaches on dashboards or front side of cars. Within its mobile app, travellers see a map with a pin at their current location, animated vehicles moving around in the neighborhood, an estimated distance from the nearest car, and “Request Lyft” button (“Lyft”, n.d.). The app offers multiple levels of service: Plain Lyft, (serves between one and four passengers), Lyft Line (a shared ride…