Thankyou Water Vision is to fund life-changing water projects in developing countries. The report will firstly focus on the background of the Australian-owned social enterprise founded in 2008. Secondly it will address how Thankyou water identified the opportunity in the market and by what method the company generated the product concept . Thirdly, the report will discuss how Thankyou Water evaluated the product development strategy and branding concept before development, also the report will analyze the triumphs and failures of the organization's product launch and how Thankyou Water changed the own marketing strategy by understanding emerging media. Finally, the report will provide recommendations on how to extend the life cycle of the Thankyou Waters product and maintain its maturity. The following section discusses the background of Thankyou Water, an Australian owned and operated social enterprise. Thankyou water was founded in August 2008, when a group of university students were struck by the injustice that 900 million people around the world do not have access to clean drinking water and that Australians spend “$600 million ” every year in bottled water (Thankyou.co, 2014). . “Knowing what the market needs is essential to develop innovative new products,” by joining the extremes, the team aimed to enable people to simply make a change in the refrigerator, thus making a change (Annacchino M, 2014). The college students began by searching how to start a water company on Google, their primary resource, however, from a group assignment, How to Start a Business from Scratch. Daniel Flynn, one of the co-founders of Thankyou water, contacted a water bottle company asking how to start a water bottle...... middle of paper ......ch, viewed April 6 2014Van Lunenburb, B, Zubcevic, N & Bracic, N, 2014, 'Lesson 4', MKT20016_HED_2014_HS1_2568, Product Management, Teaching Materials on, Whiteboard, Swinburne University of Technology, 24 March, viewed 6 April 2014Van Lunenburb, B, Zubcevic , N & Bracic, N, 2014, 'Lecture 5', MKT20016_HED_2014_HS1_2568, Product Management, Teaching Materials on, Whiteboard, Swinburne University of Technology, 31 March, viewed 6 April 2014Van Lunenburb, B, Zubcevic, N & Bracic, N , 2014, 'Lecture 6',MKT20016_HED_2014_HS1_2568, Product Management, Teaching Materials on, Whiteboard, Swinburne University of Technology, 1 April, viewed 6 April 2014Wilhelm, WB 2013, 'Incorporating Product Life Cycle Impact Assessment Into Business Coursework', Business Education Innovation Journal, 5, 1, pp. 45-52, Business Source Complete, EBSCOhost, viewed April 10 2014.