FINAL PROJECT:
You and a partner are trying out to be the next contestant on ABC’s hit show
“Shark Tank”. The hit series will be offering over $10 million in investment deals
to bankroll a creative array of innovative product ideas that the “sharks” think will
be most successful. You must create a new product to “sell” to The “sharks”.
Assignment:
Create a new GOOD/SERVICE – must be something that you can actually create
a prototype of one product from the product line or the entire line if necessary.
This can be done via an image or actual product.
Could be a new concept or a variation of an existing product – but you must
explain how it will differentiate itself from the competition
Must Identify:
 Product positioning
 Brand name
 Design brand mark or trade character to attract attention
 Packaging
 Warnings that should part of the package design
Product Portfolio:
Prepare portfolio/paper that includes
Title Page ,Name(s), Date, Product Name, Table of Contents, Outline (with
page numbers)
This is a paper and should be in complete paragraph form check grammar,
spelling etc.
Any appendixes can include but are not limited to charts, graphics, should
be put in the back ie. SWOT chart, pie charts
Arrange your ideas around the following topics:
PART I. Product/Service Idea –after reading this I should have a clear
understanding of the product
1. Based on your research/analysis make sure this is a clear, specific &
measureable objective and financial goal for your product
2. Concept and design
3. Features and benefits
4. Brand name, brand mark, trade character, and potential trademark of
scent/color/sound - describe why the name/mark will help “sell” the product
PART II. Product Positioning-Identifying and Analyzing Markets:
1. 4P’s ( explain)
2. Identify your customers’ needs, wants and demands. What type of needs is your
product trying to satisfy?
3. What will be your customers’ needs, wants and demands? Clearly identify and
define how your market offerings will meet your customers’ needs, wants and
demands.
4. Remember that often companies are selling more than just a product or service,
but an experience
5. SWOT – this can be a chart or written format . explain in detail
6. PEST – this can be a chart or written format explain in detail
List industry and describe the latest trends in the industry
(think colors, technology, go green, social ethical , what trending)
7. Relation to competition how are you going to compete against your major
competition what makes you better. Refer back to your 4p’s, SWOT &
PEST
8. YOU NEED TO KNOW WHO YOUR COMPETITION IS SO RESEARCH –
RESEARCH- RESEARCH 
a. How it is your product similar
b. Differentiation
PART III. Define Target Market: Make sure you refer to the chapter 1
&2 and you are consistent with who you are marketing to & your 4p’s,
market segmentation
1. Target market – primary target market description and number of
potential customers in target markets
2. Market Segmentation-What are your customers’ demographics,
psychographics etc ? AGE, INCOME, GENDER, EDUCATION, ETHNICITY,
OCCUPATION.
Using demographics provide a detailed explanation of your
customers. Using the internet you will need to research your TM how
many people etc.
3. Secondary market –who else might benefit but is not your direct TM
PART IV: Industry:
1. Competition (estimate market share –you will need to look at each
competitor and quasi-competitor) example Coke vs. Pepsi
2. Product’s potential profitability how much are you going to make it for?
How much are you selling it for? How much will the store sell it for?
Obviously these are estimates based on industry standards-again look at
what the competitors is doing and you will get a good idea
PART V. Advertising ,Packaging, Labeling, and Extended Product Features:
Promotion/Selling – list sector and industry and describe the latest trends
in the industry (think colors, technology, go green, what trending in terms of
anything) researching your competition will give you a good idea of where you
should be.
1. Where are you going to advertise (remember to think about all forms of
media
2. Where are you going to sell this product stores, internet etc? AGAIN
NEED TO BE CONSISTANT WITH TARGET MARKET!!!!
3. Package design
4. Labeling design, needs, type, and warnings
5. Who regulates product and relevant labeling laws (FDA etc)
6. Warranty and other potential extended product features
PART VI : Presentation/Commercial: separate presentation grade will not be
included in portfolio grade.
Here are some ideas as to what to prepare for the sharks
 Key topics covered in your portfolio (outline)
 Appropriate visual aids to support your presentation (power point, poster,
magazine billboard ad)
 Presentation of design/package/label/accessories
 Commercial to visualize how you would introduce the product into the
market place
Presentation Grading:
1. Clarity 5pts
2. Creativity10pts
3. Persuasiveness 5pts
4. Knowledge of your product ( don’t read off the power point)15pts