Option #1: Introducing a New Product to the Market

Put yourself in the position of an entrepreneur who is developing a new product or service to introduce into the market. Briefly describe the product. Then develop the segmentation, targeting, and positioning strategy for marketing the new product. Be sure to discuss:
The overall strategy; why are segmenting, targeting and positioning useful methodologies.
Segmentation and targeting choices
Characteristics of the target market
Why that target market is attractive
The positioning strategy
Provide justifications, in the form of research, for your decisions and reference your textbook and required readings.
Your paper should be two to three pages in length, not including the title and reference pages, and conform to CSU-Global Guide to Writing and APA. Include at least two scholarly references in addition to the course textbook. The CSU-Global Library is a good place to find these references.

SAMPLE SOLUTION

Introducing a New Product to the Market
Introduction
Introducing a new product into the market can be one of the exciting moments to an entrepreneur but yet very stressful (Kim & Atuahene‐Gima, 2010). As an entrepreneur, I am intending to introduce fish as a new product in the seafood industry. There is an increased interest in consumption of white meat especially with the advent of many lifestyle related diseases in urban areas. Fish is a source of protein which is very helpful in many aspects yet very few people in urban areas consume it. This has partly been attributed to the myths associated with fish in the urban market and also lack of knowledge of its many benefits which include: a source of proteins, boosting intelligence levels of kids by providing omega 3 and has very little cholesterol content which is ideal for anyone trying to prevent lifestyle-related diseases…