WebQuests (ICT Integration)
Can your ideas bear fruit? Do you believe that it is possible for your ideas about creating a product or service to sell to teens will actually succeed? What does it take to succeed as an entrepreneur? It certainly requires talent and hard work, but even the smallest business will not sustain itself in the long run without a market plan. In this unit you will build your ideas into a marketing plan.
You are a member of a company with your friends. You have a product or service that teenagers will want to use. You would like to market this product, but you will require financial backing. You did some market research and took this to a small business funder. The funder listened with interest to your idea and seems very interested in supporting you. The funder has asked your team to produce a marketing plan.
ProcessIt is your task to think of a product or service that teenagers will want to use. You could use an existing product and service and adapt it, or you could consider a completely original idea. Once you have thought of this idea, produce a marketing plan for this product or service. The marketing plan must conform to the template but should be enhanced with whatever your team deems appropriate. Your team will present the plan in the format of a presentation, accompanied by a printed document in the format of your choice.
For this assignment, you will work in teams of five and you will divide your task into roles as follows (click on each role for more information):
Your team presentation will clearly show the identity of your product and provide an explanation of why you have chosen this packaging.
Product pricing usually includes three kinds of calculations:
- Price/cost for producer (total expense of production)
- Price/cost for retailers (wholesale price)
- Price/cost for consumers (retail price)
1. A one-page colourful flyer advertisement with graphics.
2. Instructions on how to use the product, in a brochure.
3. A press release that would be intended for e-mail distribution.
» You may like to use this exercise to help you achieve your deliverables.
How to do market research
How to put together a marketing plan
How Stuff Works: How Marketing Plans Work
ConclusionHopefully you have gained a real insight into what it takes to plan a product release, from idea to action. You have experienced an important process in successful entrepreneurship. Now all you have to do is take your talent and work hard.
» Download the Presentation Assessment
Related Scenarios» Know your Market: Gender
» Know your Market: Culture
» Know your Market: Age
» Spotlilght on Ads
» Sales Pitch