Submit a proposal outlining the product/service you want to bring to market. Be sure to describe the product or service, the target market you envision reaching, and the problem your product or service solves for the target market. This should be a problem that is not currently being sufficiently addressed by current solution providers, i.e., your competition. Try to avoid "free" or "value-added" services that do not have a measurable source of revenue, and also avoid brand extensions.
Create a fictitious product or service for
Southwest Airlines or American Airlines
Submission should address the following: 12-point Times New Roman font, one-inch margins, APA formatting, and 2 pages.
Company information:
Company name, industry, traded name, stock symbol, publicly traded stock exchange, mission, status, marketing reports, and marketing domain (use EDGAR, D&B Hoovers, and MarketLine sites for reference)
New product idea:
What problem does your product/service solve for the target market (not you)? Would your target market say, “Yes, that is a problem and no one has solved it” about your product/service?
What competitive advantages does your product/service offer?
What challenges might you face in the marketing of this product or service?
Full Answer Section
Solution: Southwest Airlines will launch a Sustainable Flight Initiative, aimed at reducing the environmental impact of its operations. This initiative will involve:
- Fleet Modernization: Investing in fuel-efficient aircraft to reduce fuel consumption and emissions.
- Sustainable Aviation Fuels: Exploring and supporting the development and use of sustainable aviation fuels.
- Carbon Offset Programs: Offering passengers the option to offset their carbon emissions through partnerships with carbon offset organizations.
- Sustainable Practices: Implementing sustainable practices in ground operations, such as reducing waste and conserving energy.
Competitive Advantages:
- Early Mover Advantage: By taking a leadership role in sustainable aviation, Southwest Airlines can position itself as a pioneer in the industry and attract environmentally conscious travelers.
- Brand Alignment: The Sustainable Flight Initiative aligns with Southwest Airlines' existing brand values of friendliness, reliability, and community involvement.
- Differentiation: This initiative will differentiate Southwest Airlines from competitors and provide a unique selling proposition.
Challenges:
- Cost: Implementing sustainable initiatives can be costly, requiring significant investments in new technologies and infrastructure.
- Consumer Education: Raising awareness among passengers about the environmental impact of air travel and the benefits of sustainable options.
- Competition: Other airlines may also adopt sustainable practices, increasing competition in the market.
By launching the Sustainable Flight Initiative, Southwest Airlines can address a growing concern among travelers, demonstrate its commitment to environmental sustainability, and strengthen its brand reputation.