Analyzing the Sales and Marketing of a New Software Application
In this homework assignment you are asked to determine the sales and marketing approach you would recommend for a new software application. The intent of this assignment is for you to apply your learned knowledge so far in the course to a realistic situation. It is not uncommon for a product manager to have a fellow employee come to you with an idea and be asked to determine how it would be marketed and sold. The focus here is to demonstrate your understanding of the marketing concepts and to be creative on how they are applied to the scenario. It is NOT for you to become an expert on marketing health related software products.
The Scenario
Imagine work as a product marketing manager for a software development company that offers a wide range of software products designed to help consumers manage their health. The typical products are exercise trackers, sleep trackers, nutrition trackers, etc. Some are desktop application-based and some run on portable devices such as Android and Apple tablets as well as Apple and Android phones. In other words, there is a wide depth of expertise in your company and they have asked you to analyze a new product idea. Don’t concern yourself with the product development costs or timeframes, strategy, etc. at this point. You might consider competition when determining the price.
The Product Idea
The new product idea is for an application that will provide allergy information to consumers so that those persons with food allergies can make informed choices about the risks of eating a specific food perhaps in a restaurant or while in the grocery store.
Your Analysis
Your job is to create a framework for understanding the target audience, some guesstimates about demographic aspects that could be used for determining the marketplace size as well as how to contact them, apply the 4 Ps as applicable, and to take a look at the key features as well as potential benefits to focus on when promoting/selling the product. How you mix and match these is up to you, but make sure to utilize enough concepts to show your understanding.
Provide your analysis using the following sections headings (as a starting point). (Feel free to add additional sections if you would like but please follow this format so I can track your thinking processes.) Make sure that you include references from the course readings and other sources using APA format to support WHY you are approaching the section topic/solution in the way that you present. You can express your opinion along the way but this paper cannot be based primarily on your opinion. If you need more information to perform the analysis feel free to make assumptions and then explain that it is an assumption and why you chose it.
Instructions
FA 208 Sales and Marketing Management – Homework 1
Analyzing the Sales and Marketing of a New Software Application
In this homework assignment you are asked to determine the sales and marketing approach you would recommend for a new software application. The intent of this assignment is for you to apply your learned knowledge so far in the course to a realistic situation. It is not uncommon for a product manager to have a fellow employee come to you with an idea and be asked to determine how it would be marketed and sold. The focus here is to demonstrate your understanding of the marketing concepts and to be creative on how they are applied to the scenario. It is NOT for you to become an expert on marketing health related software products.
The Scenario
Imagine work as a product marketing manager for a software development company that offers a wide range of software products designed to help consumers manage their health. The typical products are exercise trackers, sleep trackers, nutrition trackers, etc. Some are desktop application-based and some run on portable devices such as Android and Apple tablets as well as Apple and Android phones. In other words, there is a wide depth of expertise in your company and they have asked you to analyze a new product idea. Don’t concern yourself with the product development costs or timeframes, strategy, etc. at this point. You might consider competition when determining the price.
The Product Idea
The new product idea is for an application that will provide allergy information to consumers so that those persons with food allergies can make informed choices about the risks of eating a specific food perhaps in a restaurant or while in the grocery store.
Your Analysis
Your job is to create a framework for understanding the target audience, some guesstimates about demographic aspects that could be used for determining the marketplace size as well as how to contact them, apply the 4 Ps as applicable, and to take a look at the key features as well as potential benefits to focus on when promoting/selling the product. How you mix and match these is up to you, but make sure to utilize enough concepts to show your understanding.
Provide your analysis using the following sections headings (as a starting point). (Feel free to add additional sections if you would like but please follow this format so I can track your thinking processes.) Make sure that you include references from the course readings and other sources using APA format to support WHY you are approaching the section topic/solution in the way that you present. You can express your opinion along the way but this paper cannot be based primarily on your opinion. If you need more information to perform the analysis feel free to make assumptions and then explain that it is an assumption and why you chose it.
I am not looking for you to write a major novel in this assignment. You are to explain your thinking behind the application of the class concepts to this real-world situation, supporting your approach with the course readings, etc. Please follow the rubric –
My expectation is that this assignment will be between 4 and 6 pages in length with APA page and paragraph formatting not including the references and front matter. To get you started, use this APA format listing from https://www.scribbr.com/apa-style/format/ :
Set page margins to 1 inch on all sides.
Double-space all text, including headings.
Indent the first line of every paragraph 0.5 inches.
Use an accessible font (e.g., Times New Roman 12pt., Arial 11pt., or Georgia 11pt.).
Include a page number on every page.
Complete the following sections:
Describe your understanding of the situation and product you are investigating.
What is the name you are giving to the app you are evaluating? (Have fun!)
Describe your Ideal Customer for this application? What would be the primary need that the ideal customer is looking to fulfill.
Describe AT LEAST 3 demographic characteristics (i.e., age, gender, education, income, family status, etc.) of your Ideal Customer for this product. Explain your rationale for picking these characteristics.
For each characteristic from number 4, describe how you would use that demographic trait to find prospective buyers.
List AT LEAST 3 key features of the application that would be important to your Ideal Customer. Explain your rationale for picking these features.
List AT LEAST 3 key benefits that your Ideal Customer would gain from the purchase of this product or service. Explain our rationale for picking these benefits.
Discuss your analysis of the 4Ps with respect to this product and your Ideal Customer. Explain your analysis of each “P” and explain how it informs how you intend to sell the product. Briefly describe your rationale for: how you would explain the product to your ideal customer (product), where and how would you plan to sell the product to them (place), at what price would you offer the product (price) and what special offers (promotions) you would try to get them to use it.
How do you feel about your analysis? What is missing from it? What more would you have liked to know? Now that you have completed your analysis, what additional features do you think this product should have to make is most saleable?
