Introduction
By: Miss Fisher
Introduction
It's time to show your creative side!
Over the past 2 weeks, we have learned about wants & needs, and different business activities.
For your first project, I am going to assign a webquest for this class. You individually or your group are going to generate a new product that you will market to us (the consumers) and will present to the class.
Task
Task
You or you & your group, are going to create a new product or idea to present to the rest of the class.
The idea is to create something you think will generate interest, add on to an already existing product, or just create something new and cool that you think consumers would purchase.
You will look at different products and services and then decide what product or service you would like to create or improve upon.
You will then do some research via the internet, and then create a PowerPoint presentation that conveys your product or service.
In the end, I want you to report your results in a professional manner as well as come up with a demo (picture or actual representation) of what you have created. You will present your idea to the entire class will vote on the best new product. The group who wins will receive extra credit, and no, you cannot vote for yourself!
I want this to be fun as well as allow you to apply everything we have learned thus far. Be creative and work together - no idea is too small!
Process
Process
First Step -
To truly understand the market you will be selling to, I would like you to do some pre-research. Forget about your product for the moment and just get a good understanding of what the economic situation currently is and the opportunities and weaknesses any product could face. I have listed a couple resources below, which I would like you to use, but please find 3 other resources (a total of 5) and cite them for your final project.
http://www.marketresearch.com/
http://www.sba.gov/content/do-your-market-research
After spending about 20-30 minutes in each of the 5 websites, you and your group will come up with a product you want to market to the consumers (reminder your class) and will continue onto the next process with this product in mind.
Step two -
Now that you have decided on your product, you will need to start doing some research directly related to it and the market you will be selling it in. This is where you will be analyzing your current market situation, creating a SWOT analysis and deciding on your groups marketing goals.
Please refer to the internet, as to what is included in the market analysis as well as your marketing goals. Also, please list 7-10 different bullets in your SWOT analysis.
https://www.mindtools.com/pages/article/newTMC_05.htm
This information in step two will allow you finish the project in step 3.
Step 3 -
This is where your creativity will come into play! You are going to essentially create your marketing campaign for your product in step three using the information you have learned in the first two steps.
Now, make a Powerpoint presentation with the information you gathered. I want you to tell me your marketing strategy which includes the following:
- Will you produce a product or a service?
- What product or service will you produce?
- Will it satisfy a need, a want, or both?
- Who is your competition?
- What makes your product or service different from the competition?
- Who is your target market? (Definition:A specific group of consumers at which a company aims its products and services)
- Draw a sketch of what your product will look like or write a paragraph describing your service
Your final project not due until (May 27th) will include a business plan as well as a formal presentation. In the paper I want you to put into words everything you found in steps 1-3 as well as include an illustration of your product. You will then give a marketing pitch to the class and we will all vote to see who came up with the best idea!
Good luck and get creative!
Evaluation
Evaluation
This is how your work will be evaluated. It is at my discretion - There are 35 total points for paper content, another 15 for providing an example of your product and the total project will be out of 100 points.
| Excellent 5 |
Good 4-3 |
Satisfactory 2-1 |
Not Satisfactory 0 |
Score | |
|---|---|---|---|---|---|
| Current Market Situation Analysis | Includes situational analysis as well as internal and external environment at a high level | Includes situational analysis as well as internal and external environment at a moderate level | Includes situational analysis as well as internal and external environment at a low level | Does not include any analysis of market situation | |
| SWOT | Describes product strengths, weaknesses, opportunities, and threats at a high level | Describes product strengths, weaknesses, opportunities, and threats at a moderate level | Describes product strengths, weaknesses, opportunities, and threats at a low level | No description of SWOT analysis | |
| Marketing Strategy | Group uses 4 or more strategies | Group uses at least 3 strategies | Group uses less than 3 strategies | No Marketing Strategies Used | |
| Stated Objective or Performance | Description of identifiable performance characteristics reflecting a beginning level of performance. | Description of identifiable performance characteristics reflecting development and movement toward mastery of performance. | Description of identifiable performance characteristics reflecting mastery of performance. | Description of identifiable performance characteristics reflecting the highest level of performance. | |
| Marketing Mix | Group describes 4 P's of their product at a high level | Group describes 4 P's of their product at a moderate level | Group describes 4 P's of their product at a low level | No description of 4 P's | |
| Results | Group provides a high level of analysis of product overall/summarizes findings from data collection | Group provides a moderate level of analysis of product overall/summarizes findings from data collection | Group provides a low level of analysis of product overall/summarizes findings from data collection | No analysis of product or findings provided | |
| Group Work | Group worked together and collaborated very well | Group worked together and collaborated well | Group worked together and collaborated not well | No group collaberation |
Conclusion
Conclusion:
My goal of this project is to get you all to truly understand how creating a new product works. This project will also be the start of looking at how wants and needs generate the desire to satisfy those by producing goods and services.
You are all taking this class to become business enthusiasts and this is a quick introduction into what some marketing groups do on a day to day basis. Also, this will be a great review of all the concepts we will learn over the next months and will show me which students grasp what I have taught.
Please let me know if you have any questions and good luck!
Ms. Fisher
Credits
Credits
Author Biography
Permissions
(Briana Besser & Miss Fisher)
We all benefit by being generous with our work. Permission is granted for others to use and modify this WebQuest for educational, non-commercial purposes as long as the original authorship is credited. The modified WebQuest may be shared only under the same conditions. See the Creative Commons Attribution • Non-Commercial• Share-Alike license for details.
