Answer to Question #195931 in Marketing for Komal

Question

You are required to develop a new product and generate a marketing strategy. Headings have 

been provided for your reference, which will help you understand what to include in this 

assignment.

IDEA GENERATION

Generate an idea for your new product utilizing internal or external sources 

IDEA SCREENING

Screen your idea through R-W-W framework of screening

CONCEPT DEVELOPMENT AND TESTING

Generate any 3 concepts of your new product and Explain how you would test any 1 of these 

concepts.

MARKETING STRATEGY DEVELOPMENT

• Describe segmentation characteristics of your Target Market

▪ Geographic

▪ Demographic

▪ psychographic

• Marketing Mix

▪ Price 

▪ Product

▪ Place

▪ Promotion

Answer 1

Idea Generation

The business idea is to create an online application that assists farmers to access planting season's callenders and farming equipment and resources.

Idea Screening

Use of scoring models, market research and consultation from experienced professionals to fully undetstand the scope of the business and its application to the market.

Concept Development and Testing

Pretotyping the application to farmers is the best way of development and testing. For instance, professional farming assisstants can visit farmers and help them in planting and maintaining crops with an aim of understanding whether farmers need assisstance and what they really need.

Marketing Strategy Development

Geographic- based on the location where the farmer resides.

Demographics- based on personal features such as age, ethnicity, sex, and relligion.

Psychographic- based on farmer's personalities and interests such as hobbies, life goals and lifestyle.

Marketing mix- based on combining price, product, place and promotion in a manner that is most suitable for the consumer.