This week, you have been hired as a market researcher to complete an exploratory study on innovative market sectors:
- Aerospace, aircrafts, and drones
- Games, apps, and social media
- Green technology
- Biotechnology, Drugs, and genetics
Use research results from Week 4 Homework (Anticipated consumer behaviors/Anticipated consumer needs)
Choose only one innovative market sector, and using the Plunket Research Online Database, the class textbook, and at least one article from a marketing journal, complete the following:
- Summary of the market analysis and anticipated consumer needs
- Competitive forces
- Create a prototype of one potential product or service using the “Layers of the Product” (Salomon et al., 2017, p. 236)
- Use images, designs, or blueprints
- Outline potential market and marketing challenges
- Present your results to the classroom as a 10-minute audiovisual deliverable with slides (e.g., narrated PowerPoint, visual Voice Thread, Kaltura, Camtasia, etc.) no later than Thursday of Week 5.
- See the presentations of two class peers and synthetize your critical perspectives on the research results. What you learned? What you confirmed? What additional marketing consequences have these results for the future of that specific industry market?
- At the end of the week, close the discussion with an additional post addressing the following:
- What you learned?
- What you confirmed?
- What consequence has this exercise to your professional career?
Please see MGMT 501_Week 5_Activity_Product Innovation.xlsx (Links to an external site.)Links to an external site. (Also located in Files) for grading criteria.