(Optional) Create a product or service.

Creation should involve examining alternatives such as

• developing a new product or service
• modifying an existing product or service
• assembling a product prototype or service presentation.

Creation should include consideration of

• the product/service life cycle (i.e., introduction, growth, maturity, decline)
• whether the product or service matches an established or anticipated need and/or want
• the cost of the product or service to the business
• the product or service availability requirements (e.g., for delivery to the business, for modification/manufacture)
• the shelf-life of the product
• the space requirements for display and inventory storage
• the product or service’s impact on the environment
• the unique value proposition of the product or service.

Process/Skill Questions:

• How are products and services similar? How are they different?
• Why is product/service planning important to a business?
• What is seasonality? What effect can it have on the sale of a product or service?
• Where will you source the necessary supplies to create the product?