Final Marketing Project
Mrs. ToubIntroduction to Marketing
Throughout the nine weeks of Marketing you have learned the necessary steps to create and market a new product. There are five parts listed below that will guide you in completing this large task. You and your partner are required to complete a written report and an oral presentation.
Your final project paper must be 5 – 7 pages typed. The format is as follows: 12pt. size, a professional font style, 1-inch margins, and double-spaced. Each group will hand in one report UNLESS one partner is not contributing. In that case, both group members will hand in an individual report. Be sure to proofread and spell check your work carefully. Spelling and grammar will be important elements of evaluation.
Your title page should include:
NAME OF YOUR PRODUCT
Created by “Your Name”
Introduction to Marketing
Your written report is due on __________________. Any written project turned in late will receive 10-point deduction for each day it is late. If you are not in school that day, make sure someone else turns in your paper. (Example, your paper due date is December 5, the highest grade for a paper turned in on December 7 would be a C.) Please be sure to include an introduction and concluding paragraph.
Your oral sales presentations (7 to 10 minutes) will begin on ___________________. Your goal for the oral presentation is to create a mock sales presentation with your partner and attempt to persuade your classmates to purchase your product. There will be a 3-5 minute defense period after your presentation. The audience will ask questions and you will be graded on how well you defend your product. If you do not present on your assigned date, you will be required to present after school to a panel of teachers.
The requirements on the next several pages must be included in your project and in the order they appear.
CREATE A NEW PRODUCT
1. Respond to the following:
- Describe your product in 2 paragraphs. (Include the obvious, beyond obvious and extended product features.)
2. How did you and your partner come up with your product idea?
A. Describe in detail how your team hypothetically followed the 6 steps in new product development (GSDTIE)
3. Explain what would happen to your product as it would travel through each phase of the
Your description should include what is going on in each phase. For example: During the Introduction phase your company’s focus was to draw attention to your product; times were tough as you were pouring all your money into advertising, training, etc. During the decline stage, you may want to explain what you did to prevent getting there or if you did reach the decline phase, what is your company going to do to reach the growth phase?
- Create a Brand Name, Trade Name, Brandmark and slogan for your product or service. If you are legally protecting your brand, be sure to include a trademark. Describe why you used the design and how you came up with the names.
5. Market Research
Write a paragraph defining your marketing research results. What did your research tell you? Include at least two limitations you encountered while completing your survey. What were the advantages and disadvantages of conducting primary data?
Reference Chapters 13, 32, 33 34, and 35.
PRICING OF YOUR PRODUCT
1. Set a price for a new product. Use the following questions to structure your responses:
A. What price will your product be introduced at? Explain how you calculated this figure and how you would justify to a customer the price you are charging. (Use the Return on Investment formula to help create a price.)
B. What are the MAIN features/benefits the customers will receive that will make them believe the product is worth the above price?
C. How does competition play a role in your price?
D. Do you intend to offer discounts, sales promotions/coupons, or sale prices after the
introductory period? What specific types of discounts, why and when?
E. What pricing technique will you use and why?
Reference Chapters: 30, 31
PART 3DISTRIBUTION and PLACE DECISIONS
A. Why did you choose the above channel? Direct or Indirect?
B. What type of distribution intensity will you use and why? Intensive, Selective or Exclusive?
C. What specific types of stores/locations will your customers be able to find your product?
D. Why did you choose these locations?
E. What type of physical distribution will you be using and why?Reference Chapters: 24 and 25.DETAIL YOUR PROMOTIONAL MIX
· Advertising –
o Broadcast Media – describe what type of media you will be using; Radio and/or Television. What stations do you plan to use and why did you choose them? Time of day? Time of year? What are the advantages of the type of media(s) you chose?
o Print Media – there are three types of print media we discussed; newspaper, magazine and direct mail. What magazine(s) will print your ad? Why? Choose one other print media for advertising. Describe the media chosen and why.
· Personal selling –
o Will you be using order getters or order takers? Describe.
· Publicity –o How will you get your company name and/or product on the news? Be creative and describe.· Sales promotion –o Will you be sending coupons? Samples in the mail? Flyers? Post cards? Describe.Please be sure to defend each of the above answers with details and supportive facts.
Reference Chapters: 19 and 20.
A. The students will assume the roles of a sales representative making a presentation to a potential buyer. Each group will have a maximum of 10 minutes to complete the sales presentation.
· Refer the Sales Presentation outline to ensure the necessary components are included
· You will be graded on your preparation – strongly encourage the use of note cards
· Visual aids required for presentation:
· Feature/Benefit chart – this chart should be large enough for your audience to see
· Magazine ad
· 30 second Commercial
B. Include the following personal selling techniques in your presentation:
1. Start with one of the three approaches you as a salesperson could use when selling your product.
2. Finish your presentation with one of three (3) close methods discussed in class.
Reference Chapters: 9, and 13-17.
PROJECT VISUAL AIDS
1. Prototype (poster board, clay, legos, boxes, etc.)
2. Features Benefit Chart
3. Magazine Ad – include the four components
4. 30 second commercial (poster board, PowerPoint or video)