Shark Tank PBL
Directions: Within your business,
you will come up with a product you would like to sell. You will have this in a
document format, PPT, and finally present your product.
Sample Presentation
https://www.youtube.com/watch?v=_5UntH7cr_w&safe=active
Class Library Dates: April 17th & April 24th
- Business Plan (Word document of answers) & PPT (10-15 slides):Due April 24th
- TV Commercial: Due April 30th
- Shark Tank Presentation (Professional Dress ): May 6th, 2014
- EMAIL to mrb.pearlcohn@gmail.com
- FYI: Any submissions after the three class periods used in library is considered to be late. Each day late is a letter grade
1) Product(s) description – what is your
product?
a)
Why did you choose this as your focus product(s)?
b)
Describe specific characteristics (ie. color, size,
weight, special features, etc.).
2) Business Name - come up with a creative
business name.
a)
You are to design your company logo and slogan.
3) Business description – describe what type
of business it will be (ie corporation, franchise, etc.).
4)
Market research – REMEMBER the most important concept to grasp is that
you must study potential customers’ needs.
a) Develop a survey using surveymonkey.com to
survey your fellow classmates.
ii) Some questions should be getting specific
information about the consumers (ie. Characteristics, likes, dislikes, etc.)
iii) Other questions should pertain to your
specific product
b) You will then analyze you results.
i)
Write a
brief report on how many people answered the questions the way they did; why
you think they answered them that way; what changes you think you could make
based on the results.
5) Describe your target market in detail
a) Demographics (characteristics): Age
range, Gender, Education, Occupation, Income,
Ethnic background, Family life-cycle (Single; Young Married w/o children; Young
Married with children; Middle-aged with children; Middle-aged Married w/o dependent
children; Older Married)
b)
Market size of each segment – you will search your specific company
location and printout the census profile.
You will then look at the market that you chose to target and decide
whether you believe it is feasible based on the census report. You will then write a few sentences
explaining why you feel they match. (Factfinder.census.gov.)
6) List your competitors & Research –
who and where are your competitors?
a)
Local, Regional, Global, Online
b)
Also explain
what type of competition you face and why: limited; monopolistic; intense.
c)
Research competitors’ products that are similar to
yours. Will your product be able to replace theirs or at least compete
successfully? Explain.
7) Location/Distribution of your store –
(City and State) why did you choose this location?
a)
Did you base it on the population of the specific area?
b)
Did you base on personal reasons? (ie. climate,
weather, scenery, family location, etc.).
c)
Did you base it on competitors’ locations?
d)
Since you all have a store, you will be selling
directly to customers.Will you also be selling your products to other
retailers? Why or why not?
e)
Will you be using a website ? Why or
why not?
f)
If you are selling through the website, which parcel
company do you plan to use? (USPS, UPS, Fed Ex, DHL, etc.)
8)
Price – What is your price and how did you come up with your price? Be
specific.
9) Promotion
– Sales Promotion – Choose at least
one sales promotion from the following list: (a) Contests and sweepstakes, (b)
Coupons, (c) Point-of –Purchase Promotion, (d) Sampling. You will explain why
you chose the specific promotion. You
will then create an example. (For
instance, if you are to choose a contest, you will develop a flyer that
promotes the contest with the explanation, the prize, the rules, etc… If you are to choose coupons, you can create
an actual coupon).
10) Promotion – Personal Selling – Explain
how your sales associates would assess customer needs when trying to sell your
product.
11) Promotion
- Advertising Options- Choose what
types of advertising you would use from the list below. You will then explain
why you chose what you did.
a)
Internet (website, social networking site, etc.)
b)
Print Advertising (brochure, fact sheet, magazine ad,
newspaper ad, direct mail)
c)
Broadcast Advertising (television commercial, radio
commercial)
d)
Transit Advertising (bus, subways)
e)
Outdoor Media
f)
Other ______________________________
12) Promotion – Creating Your Advertising –
You will create a television commercial for your
product. In addition, you will need to create one print piece.
.JPG)