Write

1. Select one of the following products, goods, or services as thebasis for your written assignment:

• An energy drink that uses all natural ingredients to boostenergy levels and metabolism. This drink eliminates all of theharmful side effects that competitors’ products have.
• An “intelligent” home system that monitors the residents’movements through the house and sends information to familymembers, caregivers, and medical providers. For example, handrailson the stairs contain heart rate monitors.
• A wireless virtual-reality headset that allows the user toexperience 3D virtual reality programs including travel andgames.
• A “smart bed” that monitors each partner individually and makesadjustments on its own to keep people sleeping soundly. As sleepingpositions change throughout the night, the bed self-adjusts tooptimize the sleep surface and comfort level.
• A chain of luxury hotels that offer luxury on-site petaccommodations for their guests’ dogs and cats. Pets can receivemassages, pedicures, chef-prepared gourmet meals, and outings tolocal parks, beaches, and lakes.

2. For the product or service you chose, prepare a Target MarketReport that includes the following information:

• Identify the customer need(s) that the product/serviceaddresses. This should include who the product/service is designedfor, the unique features of the product/service, and who would youwant your customers to be.
• Separate the large market you identified into smaller segments.After creating these smaller subgroups, determine which ones youbelieve would be the most profitable or productive to target.
• Create a profile of your target segments as described in yourtext.
• Now that you have identified a market segment to target, is itlarge enough to sustain the product/service in both the long andshort term? You may want to look at demographic information fromyour state or federal databases, such as www.census.gov.