Explanation of the need that this product fulfills as it relates to the specific target market. Is it a “Me Too” imitator?
This project requires each individual student to investigate the marketing mix for an existing new consumer product (product must not be more than 3 years old. Penalty for selecting an inappropriate product [more than 3 years old] is -100 points). Students are not to have duplicate products of classmates. Please put your product’s name on the Project Product Selection discussion board (see DISCUSSION BOARD on Blackboard. As a courtesy, please list your product in the “Subject” line). First person to list product, gets the product for their project. List your name and name of product (-100 pt penalty if you use the same product taken by another student first). NOTE: I do not review or approve what is placed on the Discussion Board. It is only used to determine who has selected a product first.
The following sections are required in your project with points allocated per section.
1. Name of product, description of product and product category – 20 pts
2. Explanation of the need that this product fulfills as it relates to the specific target market. Is it a “Me Too” imitator? 10 pts
3. Information/Overview of product market and/or category 40 pts – Briefly include information such as size of total market, competitors and any other pertinent information that will shed light on the market and possibly justify the need for this product. This could also include information on problems with the existing product(s) in the product category, competing products, etc. You may want to mention if there are other environmental variables that are influencing the need in this category.
4. Target Market – 20 pts – describe the target market using market dimension variables. These are segmentation variables such as demographic, psychographics, behavioral or geographic if it is a product for consumer markets.
5. Description of Marketing Mix- 60 pts.
Product Offering – Things that should be included: name, features/attributes, packaging and any other item(s) that makes this offering unique and increases its ability to satisfy target market needs. Picture of product should be included.
Distribution – Explanation of distribution system (direct or indirect);
specify the major type of intermediaries if indirect. Provide justification if direct distribution is used.
Pricing – Give price per unit. Explain pricing strategy. Show price markup through the marketing channel as much as possible (Markup Chain).
Promotion – Explain all the promotion mix elements being used. Need to justify the reason different promotion mix elements chosen. Promotional examples are encouraged.
6. Product Positioning – and Differentiation- 10 pts
Indicate the product positioning that the producer of the product uses. Indicate the positioning that its strongest competitor uses.
7. Project Format/Verbal Communication Skills — 40 pts – PowerPoint with embedded narration (-40 pts if narration is omitted or doesn’t work properly) uploaded to YouTube (-50 pts if project is submitted in any format other than uploaded to YouTube) – the project should be prepared in PowerPoint format with embedded narration for each slide (if you don’t know how to embed narration in PP, Google it). The YouTube link must be submitted through Blackboard. It is the student’s responsibility to insure that the narration and YouTube link function properly. I must receive your project by the stated deadline or you will receive a zero. NO EXCEPTIONS. YOUR PROJECT IS DUE NO LATER THAN 5PM on 12/02/14. All submissions are time stamped and this will be what I use to evaluate timeliness. It’s not when you start the submission, but when it is received.
NOTE: It is your responsibility to leave yourself enough time to manage any difficulty you might encounter. Calls/emails/texts, etc. at the last minute indicating you are having difficulty with some aspect of your project/file will not excuse you from the consequences of being late. FYI, students with Mac computers have experienced more difficulty uploading their presentations to YouTube. PLAN ACCORDINGLY.
8. The following products may not be selected by anyone: iPhone, iPad, or posted sample projects. Penalty for selecting any of these products is -100 points.
9. Each project should contain [at the end] one or more PP slide(s) that list(s) in proper format all sources utilized in the development of the project. Failure to have a “Sources Utilized” page will incur a project penalty of -50 points. Additionally, students should be aware that utilizing sources without giving credit to the source is PLAGIARISM (see Section 13 of Syllabus) and MAY LEAD TO AN “F” IN THE COURSE AND/OR EXPULSION FROM THE UNIVERSITY.
Total 200 pts
|Academic Level||College (1-2 years: Freshmen, Sophomore)|
|Number of Pages||2 Page(s)/550 words|