FINAL PROJECT: Written 125pts + Presentation 25pts
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. The paper can include but are not limited to charts, graphics,
ie. SWOT chart, pie charts
Arrange your ideas around the following topics:
PART I. Product/Service Idea –after reading this I should have a very
clear understanding of the product and its purpose. 25pts
1. Based on your research/analysis make sure this is a clear, specific &
measureable objective and financial goal for your product
2. Features and benefits
3. 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: 25pts
1. 4P’s (explain each)
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
what’s happening in the world from a political, economic & social aspect
that would affect your business. (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/different to the competition 4p’s again
PART III. Define Target Market:30pts Make sure you refer to
the chapter 1 &2. You need to be consistent with who you are
marketing too & your 4p’s, market segmentation
1. Target market – primary target market description and number
of potential customers in target markets (use internet to find
statistics)
2. Market Segmentation-What are your target market customers’
demographics, psychographics etc. AGE, INCOME, GENDER,
EDUCATION, ETHNICITY, OCCUPATION. etc
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: Industry20pts
1. Competition (estimate market share –you will need to look at each
competitor and quasi-competitor) example Coke vs. Pepsi
if you want to introduce a new soft drink you could say Coke
represents 90% of the market share we hope to have 1% in the next 2
years
2. Product’s potential profitability.
a. How much will it cost you to make it ?
b. How much are you selling it to the retailer for? How much
will the store(retailer) sell it for?
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: 25pts
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? These need to coincide with
your target market & 4 p’s. 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:25pts 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
1. Clarity 5pts
2. Creativity10pts
3. Persuasiveness 5pts
4. Knowledge of your product ( don’t read off the power point)15pts