Describe the packaging benefits to consumers.
Product Design Strategy State your chosen product and its targeted customer segment.The major competing products in your market. Attempt to cover at least four relevant competing products. Athletic shoes example: Nike, Adidas, Puma Product Lifecycle – Briefly explain what stage of the product lifecycle this product is currently in: Introduction; Growth; Maturity; or Decline?Product Lines – What are the different product lines for this product? If there are none, what could be a possible line extension?Bundling and Similar Products – What other products are or could be bundled with this product? Briefly explain why they are bundled together.General Product Benefits Ranking – List at least 4 market benefits that your product offers the market. Backpack example: capacity, food, convenience, etc.For each benefit, rank each competing product in terms of how well they offer it. Athletic shoes example: Benefit: Basketball playing: 1. Nike. 2. Adidas 3. New Balance 4. Reebok3 Product Features each with a Response Function Description – List at least 3 features that products in this market commonly have. For each of your 3 features, describe the product response function consumers have towards it.Backpack example,Waterproofing: More is good to a point then ceases to have an effectComfort: More is always betterPackaging – Describe the product packaging or paste an image if possible. Describe the packaging benefits to consumers. (Information, safety, etc.)