Advanced Entrepreneurship: Products and Marketing for Triangle Solutions
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Products & Product Marketing
Consider the following scenario:
Develop a written proposal outlining a specific product or service idea you have as the product manager for Triangle Solutions. Triangle's company type and product area have been left unspecified in order to allow you creativity in invention of your own product ideas and exploration of areas of interest in the market. You may not use the same area or idea used in previous assignments. Be sure to include the following in your response:
1. In the proposal, make a case for your new Triangle Solutions product that clearly states the need in the market, the pain points felt by customers, and the solution the new product will deliver.
2. Research the industry and market for the product, providing data on its size, growth, and so forth. Ibisworld.com or Standards and Poor's are great industry and market resources.
3. Provide some ideas for marketing strategies may be used to effectively introduce this product to the market. What channels will be used? What aspect(s) of the product should be emphasized? How will it be priced? How will these approaches achieve results?
4. Approach this from an entrepreneurial prospective as if you are launching a new venture without your company's support.
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Solution Summary
The proposal is given in 1025 words with 2 references and 3 additional resource links. It outlines the market need and customer pain points as well as research into the relevant industry an marketing strategy ideas, delivered from an entrepreneur viewpoint.
Solution Preview
1. In the proposal, make a case for your new Triangle Solutions product that clearly states the need in the market, the pain points felt by customers, and the solution the new product will deliver.
The new Triangle Solutions product will be called the Business Class. This will be an airline service exclusively for the Business Class. The Business Class will be high punctuality, full service, and highly reliable air services for the business traveler. There is a strong need for the Business Class separate from the present airlines. Even though business/executive class tickets are issued and there are separate seating arrangements for the business class passengers there are no different planes or flight plans for the business class passengers(Jones, G, 2001). Even though there are separate checks in counters for the business class, the security checks often lead to queues and the need to turn up at the airport at least an hour ahead of departure. Business Class will guarantee boarding if a passenger turns up at the gates of the airport just 15 minutes before departure. There will be a high-speed check in and security clearance system for the Business Class. The pain points for the business traveler are turning up long before the flight, and lack of punctuality of the flights.
The Business Class service personnel will take charge of the passenger the moment she arrives outside the airport and ensure that she is whisked through then entire procedure of boarding within seven minutes. Once the passenger makes contact with the Business Class personnel outside the airport it becomes the ...
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