1. PRODUCT CONCEPTIdentify the physical attributes, customer

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This document outlines the key elements needed to develop a new product or service for a target market. It specifies that the product concept section should identify the product's physical attributes, customer benefits, and competitive advantages, and analyze factors influencing a standardized versus adapted product. The product life cycle section discusses external factors affecting the speed at which the product moves through introduction, growth, maturity, and decline. Finally, the target market section describes the characteristics of potential customers including location, demographics, media habits, consumer behavior, and lifestyle.

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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 characteristics of potential customers in terms of
geographic location, demographics, media habits, consumer
behavior patterns, and lifestyle activities.
Criteria: 1-2 pages, APA format

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