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.
Your Word document should be segmented into paragraphs addressing each section. Any assertions should be backed up with actual data and referenced in APA citation style.
Proposal for New Product
Product Name: Social Connect
Product Description: "Social Connect" would enable users to integrate social networks such as Facebook and Twitter into their site. Users would be able to share information from their site with their friends on Facebook or Twitter directly without separately logging on to the social media. The product would incorporate tight security to protect user information from unauthorized access.
The rapid popularity of social networks has created a huge customer base for sites like Facebook and Twitter. Users are hooked to these sites for their entire information requirement and for communication. This has created a new world of opportunities for the corporate to tap the potential. Networks such as Facebook could be utilized for building instant and strong brand awareness. Until now organizations were in dilemma of wanting to explore social media but not at the cost of jeopardizing the security of their network. The product, "Social Connect" would help organizations link the social network sites to their site or the intranet. This way organization would allow employees to access their accounts with Facebook and Twitter without having them leave the company intranet. It would provide publicity to the company and reduce wastage of productive time of employees. The integration would encourage sharing of new ideas internal to the organization as well as from other industries. Other benefits include reduced incidents ...
The solution assists with developing a written proposal for Triangle Solutions that outlines a specific product or service idea.