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Marketing a New Product (Steps/Objectives)

In five to six paragraphs:

Provide a quick overview of the product or service you created.

State the features of your product. Show how it's innovative and different.
Provide a Mission Statement.

State your short-term objectives (one year). Objectives need to be quantifiable. Use the SMART acronym?simple, measurable, achievable, relevant, and time-specific---in formulating your objectives.

The product I would create is an on-the-go cereal and milk product that contains both products in separate compartments that when ready to use, can be combined through a simple procedure such as peeling a strip or cracking a harder section next to a softer section. I have no idea how this could be done. But for a product this has appeal to many different types of people. The most obvious would be children who need breakfast. When they are running late or need to take it with them this would be ideal. The cereal is housed in box with waxy lining, much like the small boxes are currently and when the strip is pulled to open the box the milk (something like Parma lot or soy) is released into the cereal.

Adults on the go would like this as well. They could carry it and eat it on the train or bus or once they get to work. Some people eat cereal as a snack and this would be ideal. Older people also like to buy individual products so this would be a good target market. Cereal is becoming more important for health reasons, whole grains, as a replacement for cookies and other sugar snacks. The cereals can be current types. There could be sweet, fruit included or just grains. The possibilities are endless. While there are a number of products that are carrying along, you still have to buy the milk and get the bowl and the spoon. This way (if you include the spoon on the package) you eliminate all of the pieces to one piece and conveniently all together.

Solution Summary

The solution examines marketing a new product.

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