You will submit your Product (or Service) Overview section of your Market Research Proposal. This is your opportunity to get feedback from your Instructor to ensure you are on the right track. You should submit a complete first draft of your Product (or Service) Overview that should be edited and include the following, at minimum:
Target market segment definition including demographic, geographic, psychographic, and behavioral variables. The more important behavioral variables pertain to usage: frequency, quantity, social aspects, etc.
Importance/relevance of the brand. How important is this brand to the target segment user? Are any other brands relevant, or does your brand hold a strong and unique competitive position? Explain your reasoning and support with desk (secondary) research resources.
A description and analysis of current product (or service) uses. For example, what is its primary use? Can you identify other uses?
An analysis of current consumer needs and motivations for your product and brand. For example, meeting the need for clean hair is provided by many shampoo brands, but many consumers select one brand over another based upon a specific set of motivations.
An analysis of marketplace trends including overall demand, competitors, and economic considerations.
Note: After you get your feedback from your Instructor, along with the rubric assessment, you will further refine this section for final submission of your complete Market Research Proposal on Day 3 of Week 8.
General Guidance on Assignment Length: Your Assignment will typically be 2 pages