City Colleges of Chicago Strategic Marketing Process New Product Idea Paper

Come up with a new product idea for your favorite brand/company (you need to use an existing company)

1. Explain the three phases of the strategic marketing process for this product (450 Words).- i.e.explain what you would do/need to do in each phase and step, not in general, but specifically for your product
2. 2.) Explain the concept of positioning. How do marketers typically use perceptual maps to develop effective positioning strategies? Illustrate your answer by describing how you plan on positioning your product.(300 Words)- This refers to the product idea from Q1. Positioning is part of the planning process, so this means that you don’t need to go into detail about this specific topic, in your answer to Q1