Product Development and Branding Project
200 points
Your task is to create a new product to be sold to the public. Your product must be original, but
may be a spin off of an existing product. The product developed must meet the needs of today’s
consumers and our environment. Be creative about how your product meets your target markets
needs. You will be responsible for creating the packaging of your product so keep that in mind
when deciding what kind of product you will make.
Develop a label for the new products packaging. (Front and Back)
This can be created on the computer in a Word document or
PowerPoint slide
1. The front of your label should include a brand name, trade
name, and logo (even a slogan if you want to create one)
2. The back of your label should include directions for use,
nutritional information, etc.
Complete a one-page typed summary of your product and packaging.
Your summary must include:
1. How you developed the product
2. An explanation of the product and how it works
3. An explanation of the products packaging
4. The target market of the product
Develop a price for your product. Determine how much it will cost to develop and what
your mark up will be.
Complete a one-page typed explanation of your pricing strategy and your plan for
competing in your market. If similar products are less expensive than yours, how
will you cope and adapt? Is your product a loss leader (low price) or is it an
expensive good sold at upscale retailers? (You will have to do some research on
existing products you will be competing with)
Develop a Promotional Mix for your product.
How will you promote your new product and create awareness and desire for
consumers to purchase it? You must come up with 3 promotional pieces for your
product.
When the project is complete you should have the following:
1. A complete label for your product (logo, brand name, nutritional info, etc.)
2. Two one-page typed summaries/explanations describing the product and the pricing strategies
3. Three promotional pieces for your product (sales promotion, advertisement, direct mail, etc.)
Each section will count for 60 points and the remaining 20 points will come from overall creativity and neatness