Goal: To develop a product , production plan, and marketing strategy that can be used to recruit investors.
Step One: Select a Product
In groups, select which product you’re going to produce.
Identify any competing products currently on the market. How will this affect your plan of attack?
Step Two: Development
Your group will need to decide all of the following things:
-what resources are needed to produce the product?
-What is the total cost to produce the product?
-Where are you going to produce the product?
-What are you hoping to charge for the product?
-What is the supply schedule for your product?
Step Three: Marketing
Your group will need to decide all of the following things:
What groups is your product targeting?
What are their demographics?
Age? Income? Interests?
Where are you planning on selling the product?
How are you going to market? What mediums will be most effective given your audience?
Step Four: Final Project
You will turn in:
1. The answers to your production questions, typed.
2. The answers to your marketing questions, typed.
3. A model of your product (small scale; it doesn’t have to work)
4. 3 examples of marketing/advertising that your business is going to use. Examples can include:
a. A television commercial
b. A radio commercial
c. A website
d. A print ad
e. A mock-up of a billboard
f. Or anything else you can think of….
You will be presenting your product, production plan, and marketing plan to the class as if you were trying to get them to invest in your business.
Due Date___________________
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