Product Decisions
Create a marketing strategy for the SBU (Virgin Hyperloop). Keep in mind the objectives that you have created for this marketing plan. Every one of those objectives should be addressed somewhere within the strategy and align with at least one of the four P’s. Think about all of the relevant product decisions as part of the marketing strategy within this marketing plan.
You may choose to develop a new product for the SBU selected, or you may choose to use an existing product. Either way the decisions must be yours. You should not simply list the attributes of an existing product as is. There should be some degree of change depending on the data that you have collected so far regarding the competition, marketing environment, and your target market. Remember to be a specific as possible. Ambiguous responses aren’t of much value here.
Also remember that under product decisions you will include things such as:
Product dimensions and weight
Product color design and aesthetics
All relevant product attributes and features
Packaging and the experience in unboxing the product
Warranties
Customer service and training that might be distinct from normal offerings
Anything else that relates to the decisions central to the product itself.
Step 1
List three product decision, explain as necessary, and then justify using either information you have discovered in your consumer research, your situational research, or new research that you have discovered using quality sources.
