Unit 2 IPAssignment DescriptionConsider the following scenario:Develop a written proposal outlining a specific product or service idea you have as the product manager forTriangle Solutions. Triangle’s company type and product area have been left unspecified in order to allow youcreativity in invention of your own product ideas and exploration of areas of interest in the market. You maynot use the same area or idea used in previous assignments. Be sure to include the following in your response:1. In the proposal, make a case for your new Triangle Solutions product that clearly states the needin the market, the pain points felt by customers, and the solution the new product will deliver.2. Research the industry and market for the product providing data on the target market’s size,potential growth and relative demographics of the client base, as well as major competitors orobvious potential regulatory issues such as environmental.3. Provide some ideas for marketing strategies may be used to effectively introduce this product tothe market. What channels will be used? What aspect(s) of the product should be emphasized?How will it be priced? How will these approaches achieve results?4. Approach this from an entrepreneurial prospective as if you are launching a new venture withoutyour companys support.Word document should be 3-5 pages and segmented into paragraphs addressing each section. Any assertions shouldbe backed up with actual data and referenced in APA citation style.
