Create a pitch for funding. In this pitch, you will have to convince senior management to greenlight the new product or service. Aspects of the pitch that must be addressed:
Value proposition: Describe the company’s current value proposition in the market.
Describe the selected company’s main product or service.
Discuss the company’s overall strategic plan.
Competitive advantage: Describe the competitive advantage the company will gain by funding the project.
Describe how you discovered an opportunity to do something better than your competitors.
Determine how the new product or service shifts the value proposition of the company.
Risks and opportunities: Establish the risks and growth opportunities of the company.
Determine if the new product or service could disrupt the current industry.
Identify the risks associated with the development of this new product or service.
Growth opportunities: Describe the areas of potential growth for the company.
Identify the growth opportunities within the company.
Explain how the competitive advantage allows for growth.
Distinguish as a new product or innovation: Distinguish the new product/service as an innovation or improvement on an existing product/service.
Determine if the product or service fits within the capabilities of the company.
Note: a company’s SWOT analysis or 10-K is an indicator of whether the new product or service could be feasible.
Explain how the new product or service adds to the portfolio of the company.
Target segment: Describe the targeted segment.
Identify the target customer.
Explain your blue ocean strategy.
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