Develop a written proposal outlining a specific product or service idea you have as the product manager for Triangle Solutions. Triangle’s company type and product area have been left unspecified in order to allow you creativity in invention of your own product ideas and exploration of areas of interest in the market.Be sure to include the following in your response:
- In the proposal, make a case for your new Triangle Solutions product that clearly states the need in the market, the pain points felt by customers, and the solution the new product will deliver.
- Research the industry and market for the product, providing data on its size, growth, and so forth. Ibisworld.com or Standards and Poor’s are great industry and market resources.
- Provide some ideas for marketing strategies may be used to effectively introduce this product to the market. What channels will be used? What aspect(s) of the product should be emphasized? How will it be priced? How will these approaches achieve results?
- Approach this from an entrepreneurial prospective as if you are launching a new venture without your company’s support.