Some helpful hints for your project...

 

Format of Project

    Use a cover page with a picture of the product :)

 

                        Introduction

                                *              Product features and benefits

                                *              How is the product different from the competition

                                *              Who is the target market?

                                *              How important is this new product to the target market?

 

                                You can reference each of these items to sections in the text.  Please

                                source any research you do concerning targets and the competition.

                                Provide a great deal of detail about your product of choice.

 

                        Strategies

                                *              Brand name

                                *              Product positioning

                                *              Package

                                *              Price

                                *              Distribution

                                *              Advertising/promotion/merchandising

 

                                Again, support each of these sections with of overview of the

                                traditional methods of  packaging, pricing, distribution , and

                                advertising used in that industry.  Again, provide sources for your

                                research.

 

                        Issues

                                *              How does this new product fit into the company’s product mix?

                                *              Why did the company introduce this product?

                                *              What research was probably done before introducing the product?

                                *              How will competition likely react to this product introduction?

                                *              Will this new product be successful?  Why?

 

                                It will be essential for you to have a complete understanding of the

                                company for which you are doing the product research.  You will need to

                                provide an overview of the company, its products, its objectives, and the

                                fit of this new product into its strategic plan.

 

 

 

 

 

                                If adequate information is not available about your company or product,

                                you may need to select another product.  Contact with the company

                                marketing the product is essential.   Hopefully this will be an enjoyable

                                process.  At the end of the project you should be an expert on the product

                                and be very familiar with most all marketing components of the product.

 

                                The project will be worth between 150 - 175 points - it can really boost

                                your grade or make your current 'good' grade even better.   Grades

                                will be based on:

                                            Professionalism of Project

                                            Sources about the industry

                                            Primary sources about the company

                                                                Interview with marketing personnel

                                                                Company web sites and other company information

                                            Accuracy

                                            Essential components of project adequately covered

                                            Appropriate links back to text on marketing matters

                                            Demonstrated expertise on product and industry

                                            Demonstrated expertise on marketing essentials