Marketing 11

NOTES

NEW PROJECT

New Products /

Igniting the Buzz

We have been looking at Product Development.  Some products are Fads, some are Niches, and some are here for the long haul.  In this assignment, you are to take your knowledge as a marketing professional and predict some of the newest ‘hot’ products in on the market.  In other words, you are to find one product that is less than a year old (or has only been available to the general public for less than a year) that is not currently popular, but you think it will become popular and successful. 

Your assignment should include:

• Name and description of the product/service (what it does, a picture, price etc)
• EXPLAIN the stage of product development that the product is in. (Remember to see ‘Stages of Product Development’ in your notebook or on pgs 176-177)
• Next you must describe the Products Utility.  (Form Utility: material, scent, flavour, colour, design, packaging, Information Utility, Place Utility, Time Utility, Possession Utility)  Some of these may not apply to all products
• You must then write a paragraph, using the information that you have presented above, to explain why you think the product will be successful.  Remember to take into account how the product is being marketed.  Sometimes good products do not sell well if they are marketed poorly and poor products can sell well if they are marketed well. 

Here are some links to help get you started finding New Products (You are welcome and encouraged to find products on your own as well)

Great new product site of products that are just hitting the market

http://www.inventionconnection.com/whatsnew.html

New Gadgets from ‘Wired’ Magazine

http://blog.wired.com/gadgets/

Slim cream, slim patch etc

http://www.cracompany.com/

N.B. Students that pick products that actually to ‘take off’ by the end of the year will win a prize!!

Due Date: MONDAY   25 Marks!

Marketing 12

Part one of you new Marketing Plan Project: Create your own brand

With your team, (up to 3 people) you are to brainstorm and come up with ideas for a brand.  You will ultimately have a full marketing plan for this brand including plans for distribution, packaging, slogan, logo, promotion etc but first you need to come up with ideas.  Read page 34 in the textbook and then come up with an brand idea.

Prepare to 'pitch'  your idea to Mr Southwell

Next, create a customer profile for your Target Consumer.

Read page 80 to help.

The next step will be tomorrow.