Conduct an analysis of the first P for your chosen company’s product or service. The central focus of a marketing program is on the product. It is the sole basis and driving force behind all marketing activities and what excites a target market. Your product analysis should include the company, competition, and target market requirements. Complete the following:
Analyze the product and the company’s primary target market. What are the niche characteristics of the product and the traits of the primary target market?
Analyze the branding of the product, including the intended audience and the product positioning. What influence, if any, does the brand have on its product category?
Analyze the competition for the product, and the overall marketing environment.
Synthesize product strategies for the company to achieve business success. Why will those strategies yield success? What would you recommend the company do in terms of this product to assure its long-term success?