Innovative Product Business Brief – Customer Value (Product & Price)

Innovative Product Business Brief – Customer Value (Product & Price)

1- Write a 2- to 3-page business brief that builds on the marketing plan for your innovative product by integrating the marketing concepts learned in this week. Please note, this brief should focus on Week 3: Construct an integrated marketing program that delivers superior results (Product & Pricing). 2- Format this week’s marketing plan document according to the following Guidelines: • Introduction: Importance of offering innovative product. How can an innovative product fulfill the needs better, etc. Importance of a good pricing strategy. Role of pricing in customer choice, etc. • Product strategy • Good or service, consumer or industrial good • Product levels • Product classification • Product variants, brand name, etc. • Present the product prototype • PLC strategy • Pricing strategy o Cost-based, value pricing, skimming, penetration, etc. o Which strategy/strategies will you use for your innovative product? • Conclusion • Appendices: