Marketing Project: Product or Service Identification

Prepare a 3 – 4 page double-spaced paper that describes your product or service, your target market, the need(s) this product or service meets, and how it is different from the competition. Support your analysis with three (3) academic sources, which may include your textbook, and/or credible business journals such as Barrons, The Wall Street Journal and/or Business Week. Your analysis should include: • Briefly describe your previously approved product or service for which you will develop a North American marketing strategy during MKTU 301, discussing how you will differentiate your product or service from current or anticipated competitors • Identify and discuss your target market supporting your analysis with data from one or more credible published sources. Be specific in defining the target market. • Describe what consumer or business (B2B) need(s) your product or service meets supporting your analysis with data from one or more credible published sources. • Assess where your product or service fits in the Product Life Cycle supporting your analysis with data from one or more credible published sources.
The product that I will develop for North America and the rest of the world is called Snapbac. This company develops and manufactures compression garments, which comes in shirts, shorts, elbow and knee garments. Snapbac is not only a compassion garment but it also inquires heat and cold pods that can be inserted into the garment to increase circulation and fasten the healing process by two times the time of the regular compression garment. Hot and cold temperatures do different things to your body, and should be used at different times. Cold therapy reduces swelling by slowing blood flow and circulation, and is generally best within 24-48 hours of an injury. If you leave the cold compress in place for more than 20 minutes, you could actually irritate your injury, so make sure to take 10-minute breaks in between sessions. In contrast, heat therapy increases blood flow and oxygenation, and relaxes muscles and tendons, thereby improving flexibility