This is a semester-long project for Principles of Marketing. Students create their own company and a new product and then must come up with a marketing plan to launch the product onto the marketplace. Assignments include:
1. General company description
2. Company mission statement
3. Product description
4. Market Research
5. Situation Analysis
7. Positioning and Key Points of Difference
8. Marketing Mix
9. Start-up expenses
11. Evaluation and control
Below you find some additional information about some of the assignments:
Market research: Students must survey 50 potential customers and then, using the cost to produce and the results from their survey, create a Supply/Demand curve showing their market price.
Situation analysis: This includes a SWOT analysis and an environmental scan.
Objectives: This includes both financial and marketing objectives.
Marketing Mix: As part of this section, students must create a commercial and a print advertisement. Click the link below to see one of the commercials made by my students during the project.
I grade the project as we go, and have them make changes. Then when they present, I use the project binder and presentation as their final.
Link to commercial: http://www.youtube.com/watch?v=6lER0ymCjt0