In: Economics
Choose a product for which you are interested in creating a marketing plan. It can be a product that already exists, or one you would like to launch. It must be a legal product.
Write a 1- to 2-page paper (250 to 550 words) that specifically describes your product. The most important requirement for this assignment is that the reader has a clear understanding of your product, what it does for the consumer, and how it works or functions.
Some information you should include is the name of your product. If you are choosing to write about a product you would like to launch, be sure to create a name for your product and try to be creative. Explain the features and benefits, making sure to differentiate between these two concepts.
The “product” section is the most important of the four Ps of marketing: product, price, place, and promotion. Effectively completing this part of the project should set you up for success for the rest of the project.
Answer) I would take an already existing product and describe its features,benefits,how it works for consumer.The product I am choosing here is Amazon Alexa,Alexa is an AI driven virtual assistant,it was launched in November 2014 by Amazon,in terms of physical structure of device,it can be best described as cylindrical and standing at little less than 1 feet,present in few colors,it has captured lot of imagination since its inception and Amazon is now adding additional features with it, its features include voice controlled functions such as setting alarm,reading news,displaying information and reading it out,booking restaurants reservations for dinner and movies reservations,it also has the ability to it benefits the consumer by assisting them their day to day tasks as well as being able to perform relaxing activities such as playing music or movies,Alexa by doing above activities efficiently is able to save a lot of time for its user.Alexa also helps user by remembering important dates and taking necessary actions associated with it,such as playing a birthday song on your loved one's birthday,so if we have to summarize,Alexa is a new age AI driven virtual assistant helping its user in rush hour of today's world by doing tasks related to day to day aspect of user 's life and at same time being an error free reminder device,it indeed is a product which takes technological advancement to next level and help user save tons of time and energy in daily tasks.
Answer is complete.Thank you!