Use the same company from your Week 2 assignment.
Pacific Gas & Electric has decided to launch a new line of products.
Create a 1,200 word report and include the following information:
•Choose the target market for your product, and describe your target market in detail.
•Create a new product that would appeal to your market.
•Develop at least one question for each characteristic of the target market (demographic, geographic, psychographic, and behavioral) that will be important for you as you determine the marketing strategy for this new product.
•Recommend the best methods of conducting marketing research to answer these questions. Be sure to include why you chose these particular methods.
•Outline the steps you will take to bring your product to market from idea generation to commercialization, using a multi-step product development process.
PG&E to Launch a New Product Insert Name: Institutional Affiliation: Due Date: Target Market of the New Product PG&E has decided to launch a new line product. To meet consumer needs, PG&E will seek to identify groups of consumers who are likely to be interested in the product. PG&E will, therefore, direct its marketing efforts majorly to such groups of consumers. According to Ferrell and Hartline (2014), target market refers to a group of people whose preferences and needs match the product and PG&E will market such product to those consumers. Grigsby (2012) stated that the first PG&E will have to identify its target market by understanding what its product will offer to the group of consumers or businesses. To achieve this, PG&E will identify its products’ benefits and features. PG&E is one of the biggest natural gas and electric utilities in the US. It provides electricity and natural gas to about 15 million people living in Central and Northern California (Grigsby, 2012). PG&E’s target market is residential consumers who need to use electric utilities and gas energy for domestic consumption, agricultural, and business use. The New Product PG&E has established a new product line known as Solar Choice program to enable its consumers to obtain half or 100 percent of their electricity from the sun. The program is tailored to consumers who cannot or do not want to place solar on their roof, for example, residents...