product innovation Essay -- essays research papers

Marketing Principles PRODUCT INNOVATION AND PROMOTION PROJECT   Ã‚  Ã‚  Ã‚  Ã‚  Our assignment is to create and promote an innovative product. In developing a new product, we started with an idea generation. This is a systematic search for new-product ideas. Companies go through many ideas before they come to find some good ones. We had to do the same thing. We thought of many ideas on our own. It was more of an internal idea source as opposed to going outside of our partnership for ideas. Our first idea was a restaurant with half of it an actual restaurant and the other half an automobile tuner shop. The next idea was a new energy drink that would be less costly and better tasting. Our next idea came up when we were sitting there gathering ideas for the project. We were looking in chapter ten of the marketing principles book and reading about the Heinz EZ Squirt ketchup bottles. It popped up that one of the greatest American snacks of all time has not been put into a squeeze bottle like a lot of other products have. That product is peanut bu tter. This was going to be the idea of our project until we went to the store to buy some peanut butter for our package and we found a bottle of squeeze peanut butter already out. This led us to finding a new product last minute. We thought of what we are interested in. Cars, music, and liquor immediately came to mind.   Ã‚  Ã‚  Ã‚  Ã‚  The next step was to screen the ideas to separate the good ideas from the bad. Every product or service had good points and bad. The half restaurant half auto tuner shop was a very different concept, and with some fine-tuning could catch the interest of some people. The bad thing is that it probably would not catch enough people. It was not a promising idea. The idea of a new energy drink was okay, but there are various kinds of energy drinks already out on the market. To create one that all the other ones do not already say they can do is hard. It did not look that it was a good idea either. The peanut butter idea sparked our interests more than any of the ideas we had come up with. It is a very simple idea and it would not be too complicated or technical to create. Peanut butter is used in many snacks and it would be easy to prove why a squeeze bottle could make a lasting improvement from a regular jar. Peanut butter in a squeeze bottle was the final decision... ...ference and funding to them will help them out financially. Even though we are concentrated on stopping underage drinking, we want to be active in the lives of the drinkers of age. This is why we will sponsor local softball league teams for older men and women. It is a good way to keep alcohol drinkers active and doing something. Our company is all about creating a good image to the public for all ages of people alcoholic drinkers or not.   Ã‚  Ã‚  Ã‚  Ã‚  The bartender workers as well as the store clerks will be well trained in personal selling. They will have a very friendly face-to-face presentation as well as attitude. They will also take friendly telephone calls to questions to opinions on drinks. Our store also offers an email address for requests, suggestions, opinions, or just questions for our in-store bartenders. They will reply within the day as soon as possible. Again, we pride ourselves on quality and presence. â€Å"Barstop Mixes† is for alcoholic drinkers of all kinds. The only way to experience our store and service the best is to come and visit. We promise it will be worth your while and hopefully an â€Å"incredible† experience.   Ã‚  Ã‚  Ã‚  Ã‚