Begin by reading the Nascar Case in the text. Assume the year is2015 and prepare a 3 page proposal memo to the CEO with acomprehensive new product strategy for a clearly identified targetmarket. Your proposal must include: Identification of the rootproblem you feel needs to be addressed in no more than oneparagraph. Identification of the target market you plan to attractwith the new strategy including demographic behavioral geographicand psychographic segmentation descriptors. Include rationale forwhy this particular market was selected supported by data. NewProduct Strategy comprehensive description of tangible andintangible attributes of the product type of product form ofstrategy option used for this new product developmentdifferentiation and positioning strategy. Be sure to include yourrationale supported by data. Be sure your proposal is comprehensiveand includes the appropriate marketing concepts that will convincethe CEO of your expertise and validity of ideas.