MARKETING ANALYSIS PROJECT
Evaluate the market you have chosen to pursue. Primarily, you will create an advertisement that follows your research regarding the existing (or potential) market you plan to enter (or create).
Also, you must define the customer you hope to serve. You should have a pretty good idea of who the customer is after the external feasibility project – here you will get more specific.
For example, if you are planning to cater to the ritual spanking industry, find out how people are spanking each-other in your
chosen area, and how much they pay to do it.
You will need to figure out how you will get your product
or service to the target market and how much you will charge.
VIDEO:
Update your elevator pitch. You must update and record a new elevator pitch. Incorporate what you have learned! Upload your video to eCourseware.
You may want to record at 480p to ensure your file is less than 1GB. This 2-5 minute segment needs to be recorded on video separate from your commercial.
You must prepare a 60 second commercial (video) for your business. The most important factor is to align your commercial’s message with your target market. For example, if you are selling skateboards,
then it might be appropriate to be sarcastic and edgy. However, if you are promoting a high-end luxury salon, then you might want to be proper and elegant.
Your advertisement doesn’t need to win a Clio Award, but it does need to connect with your target market.
WRITTEN SYNOPSIS:
The synopsis should include all the information you find and want graded. Include/describe all work/effort you put into the project. Be comprehensive.
The synopsis can be an essay or an outline, but it must include everything you want the professor to review for your project grade.
You must include the scripts (verbatim) for your elevator pitch and commercial.
You must describe your products, in detail.
You must include your justifications for who your target market is. Be able to justify your data (this will take some research). Use the data/research from the Industry Analysis Project.
Describe how you will reach your target market. What is your distribution plan? Do your customers come to your brick & mortar store? Are you online? Be specific and detailed.
Synopsis Format:
Use MS Word, 12-point font, 1” margins, left justification. Your name and course number (MGMT 2820) should appear in the header.
You must submit the MS Word document (.doc/.docx) file, not a link to your work.
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