Social responsibility and measuring societal impact

Identify a new and developing technology, and select a product that you expect to be developed and marketed during the next 5 to 10 years. 1. What kind of innovation is this? How does it fit within the types of innovations framework? 2. How would you segment the market for this innovation? Which segment would you select as your target market and why? 3. How will you brand this product? Select a brand name, and identify the unique brand image and all relevant associations that you would like to be associated with this name. 4. What is your pricing strategy for your product? Does the Technology Pricing Paradox apply, and if so how will that affect your pricing? Will you change your pricing during the product’s life cycle, and if so, how and why? Which factors will be critical in designing your pricing strategy and why? 5. Describe the distribution strategy you will use for the product. List all relevant considerations, and provide explanations on why you have selected the particular method you are proposing, as well as how stable will this method be over the life cycle of the product, or how you will adapt it. 6. Promotion including web based methods. Identify the best core message. How should this message be communicated across different media and methods? Identify the most critical media/methods, explain why you selected them, and provide concrete examples/samples of how you will communicate the core message(s). 7. How to sustain competitive advantage over time. Identify the challenges and methods to deal with them. 8. Social responsibility and measuring societal impact. What is the impact of this innovation not only on the economy, but also on society? Are there any potential negative effects? Is there anything the company should be doing to maximize the positive impact on business and society?