Visit Perk Energy’s (Links to an external site.) website, exploring their current product offerings and information about the company, as well as watch this short video that shows how their product lines can be used throughout the day.
Word count at least 550
Perk Energy Company Questions
- Product Analysis: Analyze Perk Energy’s existing product decisions, making your argument for whether Perk Energy has created value with their current products – meaning that they have generated benefits for the consumers above and beyond the cost. You can and should analyze product decisions such as their attributes, branding, packaging, labeling, augmented services, product lines/mix decisions, etc. If so, why? If not, why not?
- Product Improvement Recommendations: Taking in to account your response for Q1, discuss individual product decision improvement recommendations you feel would make this product stand out in the competitive energy supplement market, and to ultimately build your product and your brand. Consider recommendations regarding the product itself (attributes), branding, packaging, labeling, and support services, supporting your recommendations with your rationale.
- New Product Strategy & Idea Generation: Perk Energy is looking to expand their product line and mix in order to grow and meet changing customer needs. You are hired as a consultant for the new product’s development. First, outline your strategic review (target market, objective(s), and characteristics you’d like your products to have). Then, brainstorm ideas for multiple new products, generating both product line ideas as well as product mix ideas. (Go wild, y’all – generate as many ideas as you can!)
- Idea Screening & Selection: Selecting the idea from Question 3 that you believe is the most “real,” “winnable” and “worth doing”, develop its concept in greater depth and provide your argument for why you believe this is the best idea to move forward with, considering the likely R-W-W.
- Likelihood of Adoption Success & Recommendations: Using your idea from Question 4, supposing Perk Energy was going to put your product idea into production, present your argument for the likely adoption of this product by consumers by utilizing and applying the pre-requisites for successful new product adoption to your idea, making any needed recommendations for Perk Energy as to how they could improve the likely adoption.