Question

select a relatively new product on the market, and brainstorm ideas for product growth using each of the categories in the market matrix.

For example: Propel Enhanced Water (vitamin enhanced bottled water): Penetration—sell Propel in gallon jugs; New Market—sell to Mom’s trying to get children to take vitamins; New Products—develop Propel gum; Strategy Diversification—develop line of Propel sportswear. Please be more detailed than this example in your post, it is only meant to help you start the brainstorming process

Answer 1

Brain Storming: Brain storming is the process of exploring the power of brain for generating multiple ideas for the given subject with the help of all team members. This is a team based activity and whole team is engaged in idea generation for the given problem.

The new product select for the market: Battery Charged Movable Fan

Brain Storming :

Product: Battery Charged Movable Fan

Purpose : Growth of the Battery Charged Movable Fan in the target market

Idea Generation for below head for the growth of the new product.

Market Selection:

• Select the market for high temperature and humidity
• Select the market which has high demand of movable fan
• Select the consumers which do not have high paying capacity

Marketing and Branding

• Marketing the new concept of movable fan in the target market
• Branding the new concept of movable fan in the target market
• Promotion of the new concept of movable fan in the target market
• Branding in sports events for more consumer attraction.

Market Launch:

• Right strategy for launching the product in the market
• Sample products in high people flow locations for marketing/branding
• Use of this product in public places for easy attractions.

Pricing:

• The pricing of the product should be competitive in the market
• Pricing should be attractive and buying support concept.
• Pricing should be easily payable by consumers.
• The price is worth of value addition to the consumers.

Quality/ Reliability:

• The quality of the product should be excellent
• Quality should attract the consumers towards its benefits.
• Reliability should influence the purchase decision
• High reliability will have larger benefits in the product launch and promotion.

Retail Market Connectivity:

• Better connection with retail market
• Higher branding at retail market
• Enough availability of the products in the retail market
• Easy serviceable and repairable in market