New Service/Product Idea:
Epic Systems aims to develop a new telehealth service to improve dementia care in older adults. Older adults experiencing different types of dementia tend to require constant attention from their caregivers. Therefore, there is a huge need to develop a service that will allow the caregivers to monitor, communicate, and care for their patients remotely.

Rubric attached along with instructions below:
Context
My chosen company is Epic System.
Write a paper that addresses the following:
o Describe  corporate mission (Epic Systems) and brand description and how these two components drive business decisions.
o Assess how your new idea fits into the brand.
o Evaluate the effectiveness of  organization’s current brand and how this influences your new product/service.
Need
For your idea, continue your paper by addressing the following:
o TargetMarket
 Define basic demographics of your targeted consumer or buying style of organizational buyer, and analyze why they are a good choice.
 Define behavioral and/or psychographic characteristics of your targeted consumer or buying style of organizational buyer, and analyze
why they are a good choice.
o Want or Need
 Analyze what your target demographic(s) want or need and how the new idea meets those wants or needs.  Defend why your chosen target demographic(s) is best for this new product/service.
 Pricing and Costs
Using the idea that you have chosen, finish your paper by covering the following:
o Determine your fixed and variable costs and how they fit with your company’s short- and long-term goals. Use a narrative with a table to show calculations for cost categories. Provide reasonable estimates for each of the categories. Specific or in-depth financial analysis is not necessary.
o Judge how much your target market is willing to pay for your product/service. Examine competitors’ pricing and explain reasoning for differences.
o Evaluate how much your target market is willing to pay for your product/service if it aligns with their corporate social responsibility (CSR) preferences. Weave CSR into the launch of your new idea.
o Justify your pricing strategy (skimming, penetration, economy, or premium).