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  • Task 3 - Evaluating Consumer Needs: Product Name - Forever by Company X

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    tushar
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    The document evaluates consumer needs for a new cell phone product called "Forever By Company X". It provides an evaluation matrix scoring people's willingness to lease or upgrade phones within 1-2 years, trade phones after use, pay up to $500 as an upfront cost, and take or forego insurance. Based on the analysis, the target segment is identified as individuals who need to rent phones, purchase premium phones, are under 30 years old, upgrade every 12-24 months, and trade phones after use.

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    The document evaluates consumer needs for a new cell phone product called "Forever By Company X". It provides an evaluation matrix scoring people's willingness to lease or upgrade phones within 1-2 years, trade phones after use, pay up to $500 as an upfront cost, and take or forego insurance. Based on the analysis, the target segment is identified as individuals who need to rent phones, purchase premium phones, are under 30 years old, upgrade every 12-24 months, and trade phones after use.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    9 views4 pages

    Task 3 - Evaluating Consumer Needs: Product Name - Forever by Company X

    Uploaded by

    tushar
    The document evaluates consumer needs for a new cell phone product called "Forever By Company X". It provides an evaluation matrix scoring people's willingness to lease or upgrade phones within 1-2 years, trade phones after use, pay up to $500 as an upfront cost, and take or forego insurance. Based on the analysis, the target segment is identified as individuals who need to rent phones, purchase premium phones, are under 30 years old, upgrade every 12-24 months, and trade phones after use.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 4

    Task 3 – Evaluating

    Consumer Needs
    Product Name – Forever By Company X
    Criteria for Shortlisting Plans
    • Monthly Lease Instalment Amount
    • Monthly Phone Plan
    • Insurance
    • Upgrade Fee
    Evaluation Matrix
      Will Do Will Not Do Remarks

    People Below 30 Lease and upgrade after 12 months 315 185  

    Target portion is individuals underneath 30 looking to upgarde their


    People willing to upgrade their phone after 2 years 240   telephone following 1-2 years

    People willing to trade phones after use 240    

    Pay 500 or less as upfront cost 230   Upfront cost should be around 500

    Will not take insurance cover 460   Can convert money from insurance cover at reduced upfront fees

    People willinf to take smartphones on lease 140   28% of the market up for grabs
    Target Segment
    • Individuals who need to rent cell phones

    • Individuals who are eager to purchase premium telephones ($500 or more)

    • Individuals beneath 30 years old

    • Individuals who ready to change cell phones after each 12 two years

    • Individuals who exchange their cell phones after use

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