FINAL PROJECT: CREATE AND MARKET A PRODUCT
This project will represent the culmination of all that you have learned during your stay in this economics course. As you
might imagine, it is very extensive, and will require quite a bit of work and coordination on the part of your group in order to be
successful. It incorporates all of the material that we have learned throughout the course. Some of the information has not been
covered yet, but it will by the end of the course, so do not worry if you are not familiar with some terminology. The most important
part of the project comes in the cooperation of all group members, so assign work accordingly! First, you will see a list or
requirements for the project, then a description of how the presentation and paper for the project will be graded. This will count for 50
points toward this quarter grade, and it will also count for 1/2 of your final exam grade in the course. Good luck, but most of all, have
fun creating and coming up with an EFFECTIVE product and marketing strategy.
REQUIREMENTS:
A. The product cannot have anything to do with the following: Alcohol, Tobacco, Illicit Narcotics, or Sexually Related
material!!!!!
B. Any idea, except as noted above, is acceptable. Just make sure that the idea is something that people will actually be
interested in buying. You do not have to invent anything here, but the product must be within the limits of modern
technology.
C. You must create a name, slogan, and logo for your product. The logo should be a symbol of some type, and the slogan
should capture the “essence” of your product.
D. Your group must make a presentation of your product to the class, as well as turn in a written description of the product
and how it meets the criteria of the project. Your paper and presentation will meet the same essential requirements, and
the presentation should closely follow the paper.
E. You must create each of the following items, each of which will be shared with the class during your presentation:
1.
FOUR (4) television commercials of no more than 1 minute in length.
2.
THREE (3) radio spots of no more than 1 minute in length.
3.
FIVE print ads or some form of print ads. Billboard, magazine, newspaper, table tent, or other forms of print
media are all acceptable.
INFORMATION: The following is a list of questions that you can use to generate your paper and group presentation. When
you write your paper and present the information, you MUST do it in the order that the questions are listed below, this makes grading
much faster for me. You must answer EVERY question on the list in a very thorough manner, and present it to the class in a very
thorough manner.
A. What is the name, slogan, and logo of your product? What image are you trying to create with these items, and how do
they help to create this image/idea for the product?
B. What type of market structure will you be competing in with your product, and why is it this type of market structure?
Include any major competitors that you will have, and explain how this type of market structure will help or hinder you
in selling your product?
C. How will you use non-price competition to sell your product, and differentiate it from the competition?
D. What price will you charge for your product, and why did you settle on the price that you did? Will you have any
pricing power, why or why not?
E. Will you face any barriers to entry into the market, what types would be included here? If there are no barriers tell me
why?
F. Who is your target market for this product? Include: age groups, gender groups, income groups, and any other relevant
information possible.
G. How will you sell your product? Will you use your own retail outlets, or will you sell to existing retailers to distribute
the project? Why did you choose the method that you did?
H. Are there any government regulations/guidelines that you will have to consider in the production and sale of your
product? Include any legal items that you can think of.
GRADING: The project will be graded on how well you answer each of the above questions, as well as how well you do with
regard to the different advertisements. I will base most of the grade on how well this information is provided in the ORAL
PRESENTATION to the class, the paper is mainly for me to fall back on if I have any questions regarding any of the information. I
will be looking for consistency between the images that you want for the product and how well your advertisements meet this image.
Remember, a well planned and executed business plan will always win, make sure you are consistent in your planning and execution!
The grade will count as follows:
QUARTER GRADE: 50 POINTS
FINAL EXAM GRADE: 1/2 OF YOUR FINAL EXAM GRADE
TIPS FOR THE PROJECT:
A. DO NOT PROCRASTINATE! The end of the year will be here before you know it, get organized now and start outside
work as soon as possible
B. KISS: Keep It Simple Stupid! (Do not take offense)! This simple rule has helped many products go from obscurity to a
household name in no time. Try to be as direct as possible in your marketing strategy, and be sure to hit the groups that you
wish to.
C. RESEARCH! Any successful product relies on thorough research of the competition. Go out and shop for similar products
to see what gimmicks and ideas they have in their marketing, also be aware of the price that they charge and what type of
market structure they exist in.
D. Divide up your work evenly, and assign tasks to the people who are best suited for that type of work. Example: If you have
an artist in the group let them make print ads and such.
E. COMUNICATION: Establish CLEAR lines of communication with all members of the group and make sure that you are all
informed about the progress of the other group members. I have seen groups fail miserably in this aspect of the project, and
their grades have reflected it!
F.
You can use anyone else outside of the group to help you get the job done. If you have friends who want to help or be in
commercials use them. All members do not have to be present when you do your part of the work for the project, just keep
them informed of your actions.
G. If filming commercials in public places be sure to get permission from wherever you have to! If filming random people, get
their permission, they are usually happy to be able to help! Use common sense if in public, the last thing that you want to
have to do is to explain your actions to the police or irate neighbors! Be safe and do not injure yourself or others when
making commercials!!!!!
H. Make sure the presentation follows the information section in order. Be prepared to answer any questions that I or any other
members of the class may have when you have finished your presentation, especially the ones that I may have!
I.
Above all else, have fun making and marketing your product. You will find that this project is a lot of work, but in the end
you will surely have a great sense of accomplishment when it all comes together.
CATEGORY
Overall quality of
advertisements
and congruency
with product
image
Development of
name/slogan/logo,
and congruency in
creating product
image
Development of
pricing strategy
and congruency
with market
structures
Development of
target market and
congruency with
product image
Presentation and
ability of group to
answer instructor
questions
Overall project
quality and
realistic appraisal
of chances for
market success
SCORING RUBRIC FOR FINAL MARKETING PROJECT
4
3
2
1
Ads were of very high
quality and are
thoroughly consistent
with product image
Ads were high quality
and were mostly
consistent with product
image
Ads were of average
quality or somewhat
inconsistent with
product image
Ads were poor quality
or very inconsistent with
product image
All elements were well
developed and
thoroughly consistent
with brand image
Most elements were
well developed and
mostly consistent with
brand image
Some elements were
poorly developed or
inconsistent with brand
image
Poor development of
brand image through
name/logo/ or slogan
Highly developed
pricing strategy that is
realistic within market
structure
Well developed pricing
strategy that is
somewhat realistic
within market structure
Weak pricing strategy
that may be unrealistic
within market structure
Weak pricing strategy
that is unrealistic
Target market is
congruent with product
image in all aspects
Target market is
congruent with product
image in most aspects
Target market is
congruent with image
in few aspects
Target market is
not congruent with
product image
Outstanding clarity in
presentation and group
responded to all
questions
Presentation contained
unclear elements or
group responded to
most but not all
questions
Presentation contained
several unclear ideas
and/or group could not
answer most questions
Presentation lacked
clear focus and group
was unable to respond
to most if not all
questions
A. What is the name, slogan, and logo of your product? What image are you trying to
create with these items, and how do they help to create this image/idea for the
product?
B. What type of market structure will you be competing in with your product, and why is
it this type of market structure? Include any major competitors that you will have, and
explain how this type of market structure will help or hinder you in selling your
product?
C. How will you use non-price competition to sell your product, and differentiate it from
the competition?
D. What price will you charge for your product, and why did you settle on the price that
you did? Will you have any pricing power, why or why not?
E. Will you face any barriers to entry into the market, what types would be included
here? If there are no barriers tell me why?
F. Who is your target market for this product? Include: age groups, gender groups,
income groups, and any other relevant information possible.
G. How will you sell your product? Will you use your own retail outlets, or will you sell
to existing retailers to distribute the project? Why did you choose the method that you
did?
H. Are there any government regulations/guidelines that you will have to consider in the
production and sale of your product? Include any legal items that you can think of.