Please follow these instructionsStep 1: Identify a product.Identify a product fo

Please follow these instructionsStep 1: Identify a product.Identify a product for which you can easily explore identify the competition and note the purchase price. Describe this product in a short paragraph. Identify at least three major competitors who produce the same product type.Step 2: Describe the product.Write a brief statement about the value and benefits of this product.Step 3: Create components.Write a brief statement about the following components of the marketing mix for this product. Review the product at its point of purchase online in advertisements and so forth.o Producto Pricingo Place or Distributiono PromotionStep 4: Describe the market.Briefly describe the target market for this product including geographic variables demographic variables psychological variables and behavioral variables.Step 5: Describe market research.Write a brief paragraph explaining how you would conduct market research for this product.