[SOLVED] Marketing Product Development

PRODUCT DEVELOPMENT Project Assignment- FINALI. INTRODUCTION· Product OvervieH.O.M.E kit focuses on supplying the consumer with simple non-perishable goods that are often looked over when making a move. Hence it provides ease of mind to the consumer because moving into an apartment can be very stressful and most college students are likely to miss out on some of the smaller details. The H.O.M.E kit is a bag filled with either cleaning tools or cooking tools like cups, plates, pot, pan, grater, cutting boards, utensils, flashlight, towel, dustpan, and spray bottle etc. It could also be a customizable kit where the customer can mix and match tools by themselves. The bag has two sizes, a medium size H.O.M.E kit that can carry 21 products and a large size H.O.M.E kit Plus that can carry additional contents like a mini-vacuum, lightbulbs, batteries, and a toolkit. Each kit comes in a considerable weight that can be easily carried· Idea Generation (why is there a need for your product?)Moving can be very hectic, it is considered the 3rd most stressful event in a person’s life. About 40 million Americans move every year making up 17% of the US population. (https://www.ctmovingandstorage.com/resources/15-interesting-moving-facts). Even though the idea of making kits is popular and the familiar to people, there are still students and couples who would rather spend money to get a kit that contains the essentials when moving in. Also, the trend towards gifting newlyweds couples or students already moved in kit that has everything in it has increased dramatically for the past years. This service would ensure when the consumer moves into their new living situation all of the small details will be taking care off· Value Proposition (why should a consumer purchase your product?)Recently the popularity of bundles or kits have become more apparent. For example, there are a wide array of services that offer premade meals for people that find gathering all the ingredients and preparing the meal may take too long for someone with a busy life. Therefore, and idea of replicating this type of product but in the form of necessities is needed when moving into a new college living situation. Young adults now are seeking the aspect of ease and simplicity so this product will align perfectly with that trend. HOME kit developed this product based off the needs for college students, and with that in mind it is created to be the cheapest alternative possible.