Part BCompetitive Environment: In this section you will research and compose a summary of the competitive environment. Compare four (4) competitors in this section. Depending upon the product you have chosen, in this section you may want to describe the areas in which the proposed product is superior and/or inferior to the competitive products, determine the target consumer group of each competitor, and characterize how those target markets are divided. You may also wish to summarize competitive market shares, analyze the competitor’s marketing strategies, and determine who provides products that satisfy the same or similar customer needs. Tables and graphics in support of the text are encouraged.
Part COpinion and Recommendations: The final part of your report should be your own personal opinion of the proposed product’s prospects for success and an explanation of the reasoning behind your conclusions. This is the “bottom line” for your client as you see it. Include three (3) recommendations for steps that will improve the product’s chances to succeed.
NOTE: For an industry you are familiar with your own observations can be valuable. Specific supporting information is also available from many secondary research sources, including the following:
1. Company Web Sites and Literature
2. Industry Trade Show Observations and Contacts
3. Online Databases, including ProQuest, DIALOG, Lexis-Nexis, EBSCO, First Source, PROMPT, Trade & Industry, and Investext
4. TV Networks
6. Investment Houses and Brokers
7. Dow Jones/Factiva
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