CRS 481 Group project Overview 100 points of your overall grade will be based on a project in which your group will create, market, and sell a product to a specific consumer group. Seventy-five (75) points of your individual grade for the project will come from your performance in one of the team member roles. Twenty-five (25) points of your individual grade will be based on the overall performance of the group members on the written portions of and the success of project. Team Member Roles & Assignments Product Development Team (2 to 4 students; Designer; Manufacturer)—75 points The designer and manufacturer are responsible for conducting design and consumer research, creating sketches for a new product to be sold, and for providing flat and electronic patterns, a spec sheet, a production sample, and manufacturing instructions for the new product. For an individual grade, the designer will submit sketches of the product and prepare a one page report to explain the specific aspects of the product that will appeal to the target market. The designer will justify why the target market will want to buy the product based on the research conducted by the product development team. The designer and the manufacturer will work together to develop the flat and electronic patterns based on the sketches. The manufacturer will create the spec sheet, a production sample, and manufacturing instructions for the new product and provide the information to the factory for production. For an individual grade, the manufacturer will submit copies of the electronic patterns, a spec sheet, and manufacturing instructions for the product and prepare a one page report to detail the production process and any adjustments that were made to the original sketch during production of the sample and/or final product. Merchandising Team (1 to 2 students)—75 points The merchandisers are responsible for sourcing the materials necessary to manufacture the product in the correct quantities. The merchandisers will work in conjunction with the designer and manufacturer to determine costs and quantities. The merchandisers will obtain the materials needed to manufacturer the product in the appropriate quantities. All students in the group are responsible for paying for the supplies! The merchandisers will deliver the materials to the factory to begin production. For an individual grade, the merchandisers will prepare an item cost sheet for the product. The merchandisers will also prepare a four-week plan containing information about predicted sales and costs for each week. The merchandisers will write a one page report containing their written justifications for the material costs and product quantities, as well as the retail price to be charged for each product sold. Product Marketing Team (1 to 2 students)—75 points The product marketing team is responsible for creating a marketing plan for the product. The product marketers need to develop an advertising and promotional campaign for the item directed at members of the target market. The marketing plan should detail what will be done, where it will be done, and when it will be done. The marketing team should work with the operations team to coordinate visual merchandising efforts in the store (e.g., packaging, signage). For the individual grade, the product marketers will submit this plan, along with justifications for their decisions. The product marketers will also execute one aspect of their marketing plan during a specified week and will assess the effectiveness of their selected activity. Retail Operations Team (1 to 2 students)—75 points The operations team is responsible for picking up the finished products from the factory, delivering the products to be sold at the store and merchandising them in the store, tracking sales, collecting payments for sales, and collecting unsold merchandise from the store at the end of the selling period. All students in the group should receive payment for the sales of the merchandise! The operations team needs to analyze the sales receipts in comparison to the four-week plan prepared by the merchandising team. The operations team will also collect information about the actual buyers to compare to the information about the target market prepared by the design team. For an individual grade, the operations team will write a one page report to document the difference between the predicted and actual sales and the predicted and actual customers. The one page report will provide a potential explanation for the differences as well as recommendations for the future concerning the product design, the manufacturing, the merchandising, and the marketing. Please note, late assignments will not be accepted.