Describe technology utilized to implement product selling strategy. Develop a 3–5-page product strategy to support the presentation and sale of a product to potential customers.
Preparation
Your product strategy will support the effective sale and presentation of a product or service to prospective customers. You may use the same organization or product or service (or both) that you used for the previous assessment, or you may choose another.
Get to know the product inside and out, along with how it is used (and sometimes misused) by customers. It is also important to understand how your product compares to others in the market. Not only must the salesperson be well acquainted with all product features, he or she must be able to link each feature to a particular customer benefit. Also, take into account the age and life cycle of the product for the product strategy to be effective.
Directions
Write a product strategy paper that addresses the following:
- Describe the product or service, or the created product solution.
- Explain the product’s current status in the product life cycle. Is it a new or emerging product? Is it a mature and well-established product?
- Identify the product features and benefits. (Note that there is a difference between features and benefits.)
- Identify close competitive products and compare your chosen product to the competition. This will help you understand product differential and advantage. You may use a chart to make this comparison if you also summarize your findings.
- Describe your product strategy regarding price, value added, or other elements of product strategy. Support your choice of strategy.
- Include a bulleted summary of the key points of the product strategy, which a new sales associate could use to learn about the product and situation.
- Describe the available technologies you would utilize to implement your strategy.
Additional Requirements
- Written communication: Written communication is free of errors that detract from the overall message.
- APA formatting:Resources and citations are formatted according to APA (6th edition) style and formatting.
- Number of resources:Minimum of two resources.
- Length of paper: 3–5 typed, double-spaced pages.
Explain the life cycle phase of a product and why the phase is critical to a customer product strategy.List features of a product or service being sold.Discuss benefits of a product or service being sold.Examine a competitive product.Describe elements of a product strategy that are necessary in order to be competitive.Describe technology utilized to implement product selling strategy.
