New Product Marketing

New Product Marketing

For this elevator pitch, your goals is to get your listener to want to invest their “Garbarino Gelt” (see peer review mark for elevator pitch for more details) in your product. The pitch should cover the following aspects:

1)     What problem does your product solve?

  1. Describe what your product will do in one or two sentences. Not just what it is (e.g., “this machine scans your pheromones and those of all the people within ten feet of you) but what it does (e.g. “a device that helps you scientifically find your perfect match”)

2)     What is your solution to that problem?

  1. What is your product

3)     Who is your target market?

  1. Who will you be selling this to (hint: the answer is not “everyone’)
  2. How big is your market

4)     What is your revenue model?

  1. How will you make money from this idea

5)     Who are your main competition?

  1. The answer is not ‘we don’t have any’; who serves the same need now?

6)     What is your competitive advantage?

  1. What makes your way of serving the need superior and how will you hang on to this advantage.