1 5 New Product Introduction Strategies Twana Allen Dr. Doreen Young AMP- 425-0500 04/11/2021 Introduction New product introduction refers to the process which involves an idea from an initial working technique to a thoroughly refined final product. This process requires enough investment of time, resources, and careful planning and therefore each step requires careful analysis to ensure that the results produced are worth the effort. Various steps are involved in the process of introducing a new product into the market. These steps include ideation, research, planning, and prototyping, sourcing, and costing. In this case, I will come up with a new product that will be in a position to serve two business markets. Body In the last year, we have experienced a global pandemic that has changed how we live and interact with many parts of the world going through lockdowns even to date as well as curfews. This has greatly affected how we live and the need to mainly focus on healthy living. Many products have been introduced in the market to help prevent contracting the virus-like face masks and protective gears which have played a major role in the prevention and control of the disease spread. In my case, the product I wish to introduce concerning the pandemic is mobile grocery supply. In my area, we are forced to go out looking for groceries at specific points. With the pandemic, many people fear going out to look for such products which are basic for every one of us. A mobile grocery supply for me means that I will be able to meet my customer's needs by delivering them to their doorsteps and reducing the burden they may encounter of going out to find the same. My strategy for entering the market will involve using social media platforms to first address the idea and see how people respond to it. This will be effective to me since in the current world people spent a lot of time on the internet bearing in mind that technology advancement and development is high. This strategy will also help me in understanding what exactly customers need during this period of the pandemic. Besides, I will also help customers who might be busy working from home in saving their time and concentrating on their main work since they will not have to take a break and go find groceries However, such a business idea may come with challenges like failing to meet customer's needs at first since different customers have different preferences. There may be also issues to do with safety since in most cases it will involve meeting new people and this may pose dangers. Some customers may also be concerned about the safety of the products offered is concerned. This will call for the need to apply all the possible strategies to ensure that customers are satisfied and continue to order from my business. In ensuring that my product is successful, I intent to first research how the pandemic has affected businesses and how people are responding to the same. This will help me i ...

1. 1
5
New Product Introduction Strategies
Twana Allen
Dr. Doreen Young
AMP- 425-0500
04/11/2021
Introduction
New product introduction refers to the process which involves
an idea from an initial working technique to a thoroughly
refined final product. This process requires enough investment
of time, resources, and careful planning and therefore each step
requires careful analysis to ensure that the results produced are
worth the effort. Various steps are involved in the process of
introducing a new product into the market. These steps include
ideation, research, planning, and prototyping, sourcing, and
costing. In this case, I will come up with a new product that
will be in a position to serve two business markets.
Body
In the last year, we have experienced a global pandemic that has
changed how we live and interact with many parts of the world
going through lockdowns even to date as well as curfews. This
has greatly affected how we live and the need to mainly focus
on healthy living. Many products have been introduced in the
market to help prevent contracting the virus-like face masks and

2. protective gears which have played a major role in the
prevention and control of the disease spread. In my case, the
product I wish to introduce concerning the pandemic is mobile
grocery supply. In my area, we are forced to go out looking for
groceries at specific points. With the pandemic, many people
fear going out to look for such products which are basic for
every one of us. A mobile grocery supply for me means that I
will be able to meet my customer's needs by delivering them to
their doorsteps and reducing the burden they may encounter of
going out to find the same.
My strategy for entering the market will involve using social
media platforms to first address the idea and see how people
respond to it. This will be effective to me since in the current
world people spent a lot of time on the internet bearing in mind
that technology advancement and development is high. This
strategy will also help me in understanding what exactly
customers need during this period of the pandemic. Besides, I
will also help customers who might be busy working from home
in saving their time and concentrating on their main work since
they will not have to take a break and go find groceries
However, such a business idea may come with challenges like
failing to meet customer's needs at first since different
customers have different preferences. There may be also issues
to do with safety since in most cases it will involve meeting
new people and this may pose dangers. Some customers may
also be concerned about the safety of the products offered is
concerned. This will call for the need to apply all the possible
strategies to ensure that customers are satisfied and continue to
order from my business.
In ensuring that my product is successful, I intent to first
research how the pandemic has affected businesses and how
people are responding to the same. This will help me in
knowing if my idea will receive positive feedback. Secondly, I
will be clean and offer fresh groceries to my customers. In most
cases, customers require products that are appealing and healthy
in the case of food products. I also intend to be timely in

3. delivering my orders and ensure that I will also get delivery
personnel that will help me in reaching my customers at the
right time and avoids circumstances of delays. Besides, I ensure
to take the health precautions and comply with the health
protocols to make sure that my customers are secure from
contracting the virus. To also meet a large clientele and be in
apposition to grow in my business, I will consider advertising
my business on social media platforms like Facebook,
Instagram, and also prepare tutorials and short videos on
YouTube explaining what my business does and how it is
helping individuals in the society. With time I will also get a
website that will help people to easily search and find me
without much hassle.
Conclusion
In conclusion, a new product introduction requires thorough
research to determine how customers may respond to your
business. This means that having a good strategy is very
important to avoid circumstances of being affected negatively
and your business failing to thrive in the highly competitive
market. Besides, being competitive is also important and this is
facilitated but being unique in the market. In many cases,
businesses tend to copy each other and this ends up
disappointing the owners since they are not unique and they do
not understand how the other person is running their business.
References
Cooper, R. G. (2019). The drivers of success in new -product
development. Industrial Marketing Management, 76, 36-47.
Parker, O. N., Krause, R., & Covin, J. G. (2017). Ready, set,
slow: How aspiration-relative product quality impacts the rate
of new product introduction. Journal of Management, 43(7),
2333-2356.
Baum, D., Spann, M., Füller, J., & Thürridl, C. (2019). The
impact of social media campaigns on the success of new product
introductions. Journal of Retailing and Consumer Services, 50,
289-297.

4. Sidor, A., & Rzymski, P. (2020). Dietary choices and habits
during COVID-19 lockdown: experience from Poland.
Nutrients, 12(6), 1657.
Target Market Worksheet
Part 1: Description of Target Market
Write a 250-500-word description of your target customer (i.e.,
your customer persona). Describe the key demographics of your
target market, including customer description, location,
behaviors, psychological profile, and other population
attributes.
My buyer person includes middle class working families, small,
medium and big companies. There are robots made for all
purposes both domestic use and commercial use. There are
robots designed for different uses which attracts a large
demographic. Domestically the robots can be used for purposes
such as cleaning the house, kitchen garden monitoring among
others. Commercially we have robots that can be used in
production. The target market demographics include age. The
product can be used different ages. The availability of variety of
the robots, which can perform different purposes, allows
different ages to use. The geographical location targeted in this
case is the US domestic market, however in future the com pay
will open to international business. The household income
targeted is from low earners to high-income earners. There are
ranges in the products and they are priced in a way that there
are ranges in prices to enable all income level earners to afford
it. The robot technology used in making the robots requires a

5. certain level of education. The demograp hic targeted is the
educated people who want to apply robot technology to make
their work easier. However, the technology is easy to use and
the product comes with a manual so that it can easily be
understood. People with occupations that relate to information
technology in general are likely to find the products extremely
easy to use because the technology used relates to their areas.
Using the products will also be fun for people who are
adventurous because creativity is highly used in making the
products.
Part 2: Table
Consider how you would expand into other markets. These may
include other demographic groups, other regions, other
countries, etc. Then, select a second and third target market to
focus on. Customers in alternative markets will likely have
similar attributes to the initial target market with some major
differences. Complete the table below comparing similarities
and differences between the primary, secondary, and tertiary
target markets.
Segmentation Basis
Segmentation Attributes
Primary Target Market - Persona Description
Secondary Target Market
Tertiary Target Market
Demographic
Age
Between 16 years to 35
Between 40 to 50 years
55 years and above
Gender
Both men and women
Both men and women
Both men and women

6. Education
People with high school education
People with below high school qualification
People with high education
Income
Middle income earners
Low income earners
All groups of income earners
Family Status
Married people with children
Single people
Married people
Other Demographic Attributes
Adventurous hobbies
Introverted people with less adventurous hobbies
People with adventurous hobbies but risk averse
Geography
Country
United states of America
Europe
Other parts of the world
Region
Different states
France
Africa

7. Environment (Rural/Urban)
urban
rural
urban
Other Geographic Attributes
Psychographic
Social environment
People who are not more influenced by cultures and traditions
Cultural people
Cultural people
Personality
expressive
amiable
analytical
Lifestyle
Rural lifestyle
Healthy lifestyle
Healthy lifestyle
Lifestyle Changes
Learning skills
Learning skills
Learning skills
Other Psychographic Attributes

8. interests
attitudes
opinions
Behavioral
Purchase Drivers
value
price
Both value and price
Purchasing Behavior
efficiency
Price influences
efficiency
Other Behavioral Attributes
value
price
value
Part 3: Graphic
Design and create a one-page graphic (advertisement, brochure,
or flyer) about your product or service created in the Topic 3
assignment to appeal to customers. The goal is to generate
customer awareness and interest in your product or service. You
may paste it in this worksheet or attach it as a separate
document.
Part 4: User Journey Map
This portion of the assignment is to document the process by
which a customer engages with your business, purchases, and
utilizes your product or service. You may refer to the topic
Resources for more information about journey maps.

9. Create a journey map of how your customer interacts with your
business to purchase and use your product or service. This
should be submitted as a bulleted list of all steps in the
purchase and use processes. Be sure to include the entire
process (i.e., every step the customer takes from first
considering purchase [location, product, etc.] until product is
used or service delivery is completed).
Our company sells directly and through retailers. The process of
retailers is different from the process of direct customers.
Direct customers make a purchase either through online
channels or by conducting the company directly. When they
make an order, the logistic s department prepares the order in
the customer’s name and delivers it. With retailers, there is first
contacting the company by the retailer, if the retailer is willing
for a long-term commitment with the company we enter into
contractual agreement. A meeting is set with such retailers and
they are given terms of the agreement. When the agreement is
done, the retailer makes an order, which is then prepared and
delivered. There is time for inspection to ensure the goods
ordered are in the right quality and state require. When the
retailer is satisfied then they are given their goods. Payments
can be made before or after the goods have been delivered
depending on the agreement.
© 2021. Grand Canyon University. All Rights Reserved.
2
Key
PartnershipsKey
ActivitiesValue PropositionCustomer RelationshipsCustomer
SegmentsCost Structure
Key ResourcesChannelsRevenue Streams

10. Business Model Canvas - Intro and Template
What is BMC? – It is a one-page template summarizing key
aspects of business.
What does it look like? – It is a grid of nine boxes, each one
addressing a key aspect of business (see diagram below).
How do I complete the nine boxes? – Slide 2 details information
required for each box.
Why is it arranged like that? – Value proposition is critical to
success, so it is centered. The four left-side boxes focus on
operations. The four right-side boxes focus on customers.
What do I do next?
Slide 3 is a blank template for you to complete.
Complete Slide 3 addressing Slide 2 questions.
Template has three bulleted key elements for each box. Your
business may have more or fewer key elements in each box. Add
or delete as needed.
Write a summary (just a few words) for each key element.
Save Slide 3 as PDF or PowerPoint document using new file
name and submit to instructor.
1
Project Name
Key Partnerships
Who will help you?
Who are the people outside of your organization that you need
to work with?
What are the most important motivations for the partnerships
that you are seeking?
Customer Relationships
How do you interact?

11. What relationship does the target audience expect you to
establish?
How can you integrate that into your work in terms of cost and
format?
Key Activities
How do you do it?
What key activities does your value proposition require you to
do internally?
What activities are most important for your distribution
channels, customer relationships, and revenue streams?
Value Proposition
What do you do?
What core value do you deliver to your customer?
What unmet needs are you satisfying?
What problem are you solving?
In addition to the financial value, what higher purpose does
your innovation serve?

12. Customer Segments
Who do you help?
Which customer groups are you creating value for?
Who is your most important customer?
Cost Structure
What will it cost?
What are the most important costs in your work?
What key resources/activities are most expensive?
What are the key deadlines or time constraints?
Revenue Streams
How much will you make?
For what value are your audiences willing to pay?
What and how do they pay?
How would they prefer to pay?
How much does every revenue stream contribute to the overall
revenue?
Distribution Channels
How do you reach them?
Through which channel does your audience want to be reached?

13. Which channels work best?
How much do they cost?
How can they be integrated into your and your audiences'
routines?
Key Resources
What do you need?
What key resources does your value proposition require?
Where can you obtain these resources?
2
Student
Key Partnerships
I need to work with other business incorporating partnership
relations.
The most crucial motivation for considering partnerships is
simply getting access to various new markets and new
customers.
Another motivation is to build brand awareness.
Customer Relationships
The target audience expects the business to establish an
interactive relationship where customers freely express
themselves and their needs responded to.
Additionally, the target expects improved customer services in a
conducive atmosphere.
Key Activities

14. Internal value proposition activities include;
improving product and service performance, Pricing strategies
relatively lower brand marketing, ensuring Product usability.
Activities important for customer relations, distribution
channels and revenue streams are better performance, ensuring
accessibility and good marketing strategies respectively.
Value Proposition
The values delivered to the customers are standard services and
better product performance.
The unmet needs to be satisfied are customer satisfaction issues.
The organization is working on ways to best satisfy customers
through improved performance on both goods and services, and
creating a healthy rapport with the customers.
The problem I am solving is looking into various ways in which
the business can align its products and services to the needs,
preferences and tastes of the customers for maximum
satisfaction and convenience.
Additionally, business innovation saves time and ensures
quality values apart from financial value.
Customer Segments
The business is creating value for customers based on
behavioral changes of the customers.
Generally, all the customers are important to the business.
However, the business employs more emphasis on behavioral
segmentation methods in customer analysis.
Cost Structure
The most important costs are cost of production, distribution
cost and marketing costs.
Expensive resources are raw materials and production
equipment.
Key deadlines and time constraints mostly apply to distribution.
Distribution is scheduled to take a maximum of three days.
Revenue Streams
The audiences are willing to at the business set product prices

15. as long as quality is guaranteed.
The customers pay money both through business number and
cash terms
Consequently, the customers prefer paying both in cash and
through the business number.
Generally, every revenue stream contributes 20% to the overall
revenue.
Distribution Channels
The business audience wants to be reached through marketing
personnel and business ecommerce platform.
The business ecommerce and platform and marketing expert
works best. The two channels have a total cost of $800,000.
The two channel can be integrated by teaching both customers
about the platform and hiring marketing experts.
Key Resources
Key resources for value proposition are employees, expert
knowledge, plant and equipment
Obtaining these resources incorporates employing expert
professionals, purchasing plant and equipment
Project
3
2
Summary of the business model canvas
Twana Allen
ENT-436-0500
Professor Dawn Price

16. Nov. 28, 2021
Summary of the business model canvas
In the business industry, considering partnerships are key for
the success of a business. It is the plan of the business
stakeholder to partner with other businesses in the same field.
Generally partnering would see the business cover a wider
market and access more customers as compared to not
partnering. Additionally, a partnership is important for building
and enhancing brand awareness (Mazzarol, 1999). Through
such, there will be maximum marketing hence maximum sales.
Similarly, there is a need to look into the cost structure of the
business. The business majored in production costs, marketing
costs, and distribution costs. Looking into the production cost is
critical since it is from the production cost, that every other cost
and related pricing values can be determined (Rosemann &
Yom, 2015). On the same note, the distribution and marketing
cost equally form part of the business's most important costs.
Generally, the most expensive resources in the business include
raw materials and production equipment.
Significantly, the business key activities required by the value
proposition to be carried out internally include improving
various products and related service performance, incorporating
relatively fair pricing strategies, ensuring product convenience
and brand marketing. Generally, these activities are within the
reach of the business to ensure the smooth operation of business
activities. Notably, good service performance will enhance
customer relations, ensuring accessibility will improve product
distributions, and marketing and sales would result in more
revenue streams (Buttle, 2004). Additionally, the key resources

17. necessary for the business value proposition are employees,
expert knowledge, plant, and related equipment. Generally,
value propositions deal with the reasons why various customers
prefer certain businesses to others. This sets in as a result of
better performance in services and products, good customer
relations, and fair pricing strategies. Therefore, all these
activities can only be carried out by employees with expert
knowledge and purchasing plant equipment.
Concerning value propositions, the business delivers goods and
services of high standard and quality. Significantly, this is
through better performance and maintaining a good customer-
employee rapport (Biazzo & Filippini, 2021). Currently, the
unmet needs of the customers is satisfaction. The business is
working on the problem to ensure maximum satisfaction for the
customers majorly through improved performance on the
specific customer complaints. The target audience, therefore,
expects the business to ensure an interactive relationship with
its customers (Osterwalder et al., 2014). Ensuring interactive
relations provides the best platform for customer expressions
and complaints. Equally, the audiences expect quality product
and service performance.
Generally, the business audience prefers to be reached through
the business eCommerce platform and the marketing personnel.
Reaching customers is crucial in the business setup as
customers are the backbone of any business. The two channels
work best in communicating with, many customers as they cover
a wider market scope. In line with customer segmentation, the
business categorizes the customers in terms of their behaviors.
The behaviors of the customers convey so much information to
the business (Dibbs & Simkin, 2014). Through the analysis of
customer behavior, the business can adjust accordingly where
necessary for better results and sales. The two channels can be
incorporated into the audience routine by teaching the audience
how to use the eCommerce platform. Finally, on the revenue,
each revenue stream contributes 20% to the total revenue. The
customers pay through cash and business number. Significantly,

18. the reason for selecting these key elements for the business is
that they form the core operations of every business.
References
Biazzo, S., & Filippini, R. (2021). Creating the Project Value
Proposition. In Product Innovation Management (pp. 107-130).
Springer, Cham.
https://link.springer.com/chapter/10.1007/978-3-030-75011-4_7
Buttle, F. (2004). Customer relationship management.
Routledge.
https://scholar.google.com/scholar?cluster=86056983335914975
77&hl=en&as_sdt=0,5
Dibb, S., & Simkin, L. (2010). Judging the quality of customer
segments: segmentation effectiveness. Journal of Strategic
Marketing, 18(2), 113-131.
https://www.tandfonline.com/doi/abs/10.1080/09652540903537
048
Mazzarol, T. (1999). Partnerships—A Key To Growth In Small
Business. Journal of Enterprising Culture, 7(02), 105-125.
https://www.worldscientific.com/doi/abs/10.1142/S0218495899
00008X
Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. (2014).
Value proposition design: How to create products and services
customers want (Vol. 2). John Wiley & Sons.
https://books.google.co.ke/books?hl=en&lr=&id=LCmtBAAAQ
BAJ&oi=fnd&pg=PA8&dq=Key+activities+in+value+propositio
n&ots=e8m2e8bxiV&sig=Jki_2jv6xyEahj83DypJkNdSlys&redir
_esc=y#v=onepage&q=Key%20activities%20in%20value%20pro
position&f=false
Rosemann, M., & vom Brocke, J. (2015). The six core elements
of business process management. In Handbook on business
process management 1 (pp. 105-122). Springer, Berlin,
Heidelberg.
https://link.springer.com/chapter/10.1007/978-3-642-45100-3_5
The purpose of this assignment is to build and defend financial

19. projections for your business idea. This includes estimating
units sold, revenue, and costs for the first 3 years (12 Quarters)
of the business.
Part 1
Build a pro forma Excel sheet estimating revenue and all
operating cost items of the business for each of the first 3 years
(12 quarters) of operation. Review the pro forma examples
provided in the topic Resources. Pro forma estimates should be
based on researched information and rational assumptions.
APA style is not required, but solid academic writing is
expected.
Part 2
Write a 750-1,000-word summary of your pro forma
spreadsheet. Include the following items:
1. Describe how you developed the pro forma projected
expenses and operating costs.
2. Explain your revenue estimates, variable costs, fixed costs,
margin, and how your arrived at your figures.