Developing Students for Tomorrow's Challenges
 

 

Project Approach

I. What Must Student Teams Do?

• Prepare Marketing Plan for introduction of a New Product into a Target Market

  • New Product is [*]
  • Target Market is [*]


North Allegheny High School: Bayer Final Competition Winners at Bayer Kansas City in May 2005.
Project: Marketing Advantage/Advantix in Switzerland. Team North Allegheny was invited to Bayer Kansas City to give its presentation to Bayer’s animal care team who works with these products. This picture shows the North Allegheny team, Barbara Zaun, Diana Kamyk and Bayer Kansas representatives. This was the first time that a team had been invited to present its findings to the Bayer group responsible for the target product.

 


• Present PowerPoint describing Marketing Plan to judges (including business people) within prescribed time limit.

II. How Might Each Team Organize and Work Together?

• Divide responsibilities for Project by function, for example:

  • Marketing and Sales
  • Research and Development / Product Packaging
  • Manufacturing and Distribution
  • Compliance with regulatory requirements
  • Finance
  • PowerPoint production
  • Mentor Liaison

• Seek effective mentor assistance (organize inquiries, undertake sufficient pre-meeting preparation and organization, record agreed mentor suggestions and follow through)

• Assign specific responsibilities and required outputs for each function

• Set sequential deadlines for progressive completion of assigned tasks

• Work individually or in groups on assigned tasks

• Meet regularly to share progress and monitor quality and timeliness of each team member meeting his/her responsibilities

• Provide additional support where required

• Finalize work product

III. What Steps Might a Team Pursue to Successfully Complete the Task?

• Gain comprehensive understanding of:

o How Product is currently marketed in USA

1. Product attributes and pricing

2. Target consumer(s)

3. Marketing approach(es) and media

4. Trademark and patent requirements

5. Manufacturing processes

6. Sales approach and distribution networks

 

o How Would that Approach Need to Change for Target Market

1. Analyze how current marketing approaches would work in Target Market, for example what are the challenges from a cultural, religious, economic, or practical standpoint?

2. Determine modifications that would be required to adapt current marketing, manufacturing, distribution, etc. to Target Market

• The results of this preliminary work should provide sufficient data on:

o Target audiences for the New Product

1. Demographics

2. Shopping patterns and trends

3. Practical considerations like storage space for product

4. Cultural influencers such as popular or taboo colors, numbers, names, label designs, superstitions, religious symbols or political angles

    • Language challenges and opportunities
    • Popular culture influences and influencers
    • Rules of business (e.g., restricted practices, licenses and permits, import restrictions, import duties)
    • Competitors

• Decide upon and prepare the PowerPoint presentation describing the Marketing Plan, including (but not limited to):

1. Description of Target Market from an economic, demographic and cultural standpoint

2. Proposed Product presentation (including product name, packaging and package size)

3. Sales approach (e.g., direct to consumers or retailers or through distributors)

4. Supply chain (manufacture and distribution)

5. Pricing and profitability (utilizing cost data supplied)

6. Proposed advertising campaign (slogan, etc.) for example sample print advertisement, commercial or website

7. Choice of media (TV, radio, print, internet, sms, etc.)

8. Economic dimensions, including sales volume and revenues

• Prepare one-page written summary of sources of research

• Assign presentation roles, make sure all technology operates properly and rehearse presentation

• At the competition(s), make the presentation, provide summary of sources of research and be prepared to respond to questions