What is the product or service and why is it appropriate for selection

Marissa DonezWhat is the product or service and why is it appropriate for selection?The product I would choose is a GPS tracker for children with autism. This is appropriatesince there is not many on the market and could use some marketing upgrades and as Ihave a child with autism and have experience with a “wanderer” it would be nice to createa product that would benefit me. If the product or service will compete with one that already exists, how will you change it tobe different? What is your competitive edge?The most prominent GPS tracker for children with special needs is AngelSense. If I couldchange my product to be more competitive I would make it so that it lasts a long time, issmall and able to be placed conveniently (I think there should be various types for varioussituations), there could also be different style to make it less obvious because the lastthing you want is a child with special needs to feel even more like an outsider. I think therecould also be products such as cases to protect against water much like phones havecases. AngelSense has a monthly service fee and has voice monitoring as well as updatesof when child might possibly have left school or other common areas. It also has a specialmagnet key lock that is needed to remove the device, but it can only be attached to achilds belt or inside pocket. This is where different types would come in handy such aswatches, necklaces, or even discretely hidden or made on shoes. To me it’s almost like aphone but just a different market. My son would never wear a watch due to sensory issuesbut if it was already made onto or within a shoe he would never notice. Having it in hispocket would make him anxious because he would want to take it out. Eventually peoplewill begin to recognize when a child has the device in their pocket and in cases ofkidnapping their clothes could easily be changed and thrown out. There are severalsituations to think about but a line of products for this market could potentially beextremely successful.Marketing Project: Product or Service IdentificationMKTU 301 Week 3 Assignment and RubricLength:Due:Value:Post: Paper: 3 – 4 double-spaced pages (excluding title and references pages)Week 3 by Sunday Midnight100 Points for 10% of the gradeWeek 3 Assignments By Sunday midnight, prepare a 3 – 4 page double-spaced paper that describes your product orservice, your target market, the need(s) this product or service meets, and how it is differentfrom the competition. Support your analysis with three (3) academic sources, which mayinclude your textbook, and/or credible business journals such as Barrons, The Wall StreetJournal and/or Business Week. Your analysis should include:• Briefly describe your previously approved product or service for which you will develop aNorth American marketing strategy during MKTU 301, discussing how you willdifferentiate your product or service from current or anticipated competitors• Identify and discuss your target market supporting your analysis with data from one ormore credible published sources. Be specific in defining the target market.• Describe what consumer or business (B2B) need(s) your product or service meetssupporting your analysis with data from one or more credible published sources.• Assess where your product or service fits in the Product Life Cycle supporting youranalysis with data from one or more credible published sources.Rubric: Evaluation CriteriaInstructor feedback on how enhance analysis: Criteria Exemplary Proficient Developing Emerging Product or Service 20 – 19Clearly andconcisely describesa product or service,and how it it will bedifferentiated fromcurrent oranticipatedcompetitors.Product concept iscreative, innovativeand viable. 18 – 17Fairly clearlydescribes a productor service, and howit it will bedifferentiated fromcurrent oranticipatedcompetitors.Product concept isfairly creative,innovative andviable. 16 – 15Somewhat clearlydescribes a productor service, but maynot discuss how itwill be differentiatedfrom current oranticipatedcompetitors.Product conceptmay lack originality,and/or viability. 14 – 0Limited if anydescription of aproduct or serviceand how it will bedifferentiated fromcurrent oranticipatedcompetitors.Product conceptmay not be viable. Target Market 20 – 19Clearly andconcisely identifiestarget market(s)accuratelysupporting analysiswith credible datafrom academicsources. 18 – 17Identifies targetmarket(s) fairlyaccurately Fairlythoroughly supportsanalysis withcredible data fromacademic sources 16 – 15Somewhat identifiestarget market(s).Somewhat supportsanalysis withcredible data fromacademic sources 14 – 0Limited if anyidentification oftarget market(s).Limited if any dataprovided. Consumer/BusinessNeed(s) Product Life Cycle 20 – 19Clearly andconcisely describesthe consumer orB2B need(s) productor service meets;comprehensivelydiscusses howproduct or servicefulfills need.Supports analysiswith credible datafrom academicsources.20 – 19Accurately assesseswhere product orservice fits in theProduct Life Cycle.Supports analysiswith credible datafrom academicsources. APA and Sources 8Uses 3 or moreacademic sources tosupport analysis.Accurately adheresto APA standards;reference page andcitations are correct.All sources listed inReferences are citedin paper Writing Mechanics 12 – 11Paper is logical andwell-written; spelling,grammar andpunctuation areaccurate. Paper isthe required lengthof 3 – 4 pages ofcontent, andincludes a correctlyprepared title page. 18 – 17Fairly clearlydescribes theconsumer or B2Bneed(s) product orservice meets, Fairlyclearly discusseshow this product orservice fulfills need.Fairly thoroughlysupports analysiswith credible datafrom academicsources18 – 17Fairly accuratelyassesses whereproduct or servicefits in the ProductLife Cycle. Fairlythoroughly supportsanalysis withcredible data fromacademic sources7Uses 2 – 3 academicsources to supportanalysis. Adheres toAPA standards;reference page andcitations are correctwith minor (1-3)errors. . All sourceslisted in Referencesare cited in paper 10 – 9Paper is logical andwell-written but withminor (1 – 3) errorsin spelling, grammarand/or punctuation.The content may be5% too long or short;includes a correctlyprepared title page. 16 – 15Somewhat clearlydescribes theconsumer or B2Bneed(s) product orservice meets.Somewhatdiscusses how thisproduct or servicefulfills need.Somewhat supportsanalysis withcredible data fromacademic sources16 – 15Somewhataccurately assesseswhere product orservice fits in theProduct Life Cycle.Somewhat supportsanalysis withcredible data fromacademic sources6Uses 1 – 2 academicsources to supportanalysis. APAstandards aresomewhat followedin the paper andReference page; thework of others iscited but withnumerous (errors.Sources listed inReferences andcitations may notmatch8-7Paper is somewhatlogical and wellwritten but withseveral (4 – 10)errors in spelling,grammar and/orpunctuation. Contentmay be 10% toolong or short; andmay not include acorrectly preparedtitle page 14 – 0Limited if anydescription ofconsumer or B2Bneed(s) product orservice meets orhow product orservice meets it.Limited if any dataprovided 14 – 0Limited if anyassessment ofwhere product orservice fits in theProduct Life Cycle;limited if any dataprovided. 5- 0Uses 0 – 2 academicsources. Limitedadherence to APAstandards in thepaper andReference page;work of others maybe cited or withmultiple errors.Sources listed inReferences andcitations do notmatch6-0The paper lacksclarity and may beconfusing; maycontain numerous(11+) errors inspelling, grammarand/or punctuation.The content may be15% too long orshort, and may notinclude a title page