Product Idea Wal-Mart Service Idea Business & Marketing Essay

You will create a marketing plan for a product idea (either a good or a service) you have developed for an existing organization.
In this milestone, submit a proposal outlining the product/service you want to bring to market. Be sure to describe the product or service, the target market you envision reaching, and the problem your product or service solves for the target market. This should be a problem that is not currently being sufficiently addressed by current solution providers, i.e., your competition.
When developing your product or service idea, please keep in mind that you will be required to write a pricing, promotion and distribution strategy as part of the overall marketing plan. Try to avoid "free" or "value-added" services that do not have a measurable source of revenue, and also avoid brand extensions.

MKT 500 Final Project Milestone One: Product Idea Guidelines and Rubric Overview: For the first milestone, choose an existing organization from the list below and submit an idea for a new product or service. This product or service idea will be used to create your marketing plan for the final project. If your idea is a product, describe the product, its functionality, and how it works. If it is a service, describe the service offering so that readers understand what they would receive. Your product or service should address a problem that is not currently being sufficiently addressed by current solution providers, i.e., your competition. This milestone is due in Module One. Create a fictitious product or service for a company from the following list:  Southwest Airlines or American Airlines  Microsoft Corporation  Heinz Corporation  Caterpillar  3M Co  Costco  Tesla  Amazon  WalMart  Comcast Your submission should address the following:  Company information: o Company name, industry, traded name, stock symbol, publicly traded stock exchange, mission, status, marketing reports, and marketing domain (use EDGAR, the SEC, and the Bureau of Labor Statistics sites for reference)  New product idea: o What problem does your product/service solve for the target market (not you)? Would your target market say, “Yes, that is a problem and no one has solved it” about your product/service? o What competitive advantages does your product/service offer? o What challenges might you face in the marketing of this product or service? Ensure that you have adequately described your product or service. By the time your product or service description is written, the reader should understand and be able to envision what you want to bring to market. If you have a service description, the reader should know where you are located, what your service offers, and so on. Rubric Guidelines for Submission: Your paper must be submitted as a 2- to 3-page Microsoft Word document with double spacing, 12-point Times New Roman font, one-inch margins, and APA formatting. Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value Main Elements Includes most of the main elements and requirements and cites many examples to illustrate each element Includes some of the main elements and requirements Does not include any of the main elements and requirements 60 Inquiry and Analysis Provides in-depth analysis that demonstrates complete understanding of some concepts Provides analysis that demonstrates some understanding of concepts Does not provide in-depth analysis 10 Integration and Application Most of the course concepts are correctly applied Some of the course concepts are correctly applied Does not correctly apply any of the course concepts 10 Research Incorporates some scholarly resources effectively that reflect depth and breadth of research Incorporates very few scholarly resources that reflect depth and breadth of research Does not incorporate scholarly resources that reflect depth and breadth of research 10 Writing (Mechanics/Citations) Minor errors related to organization, grammar and style, and citations Some errors related to organization, grammar and style, and citations Major errors related to organization, grammar and style, and citations 10 Total 100%