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					BMI 3CI                          Mr. Chumley                               2011


1.   Read your task carefully!
2.   This is your chance to show your creativeness and marketing skills.
3.   You may work in teams of up to 3 team members.
4.   The efforts of each team member will be evaluated on a daily basis.
5.   Each team will divide their mark amongst the individuals on their team.

         ********It will count as 20% of your final mark. ********

            Good Luck! Have Fun! Work Hard! Be Creative!

The Situation:

You are a High School graduate and are not going to College or University. You have
decided that your expertise in the field of marketing is sufficient and are going to be
starting a company in order to begin your business career.

                                  Executive Summary:

This section will be attempted once the entire project has been completed.

        1 – 2 pages maximum (1 page preferable)
        Objectives of the business
        Clear, concise overview of the project
        Structure of business
        Key personnel and how they relate to the venture
        Description of product and service
        Overview of the market and estimated market share

Please complete this project in the order of the steps given. Good luck and ENJOY!
                         Step 1: Create a Company

                      PLEASE NOTE:
Certain restrictions have been placed on your product.
       It must be able to be carried by one person.
       It must be packaged.
       It must have some form of competition.
           No Energy Drinks, Energy Gum, Food Products.
   Company Name (provide rationale/reason for choosing the name you did)
   Company Mission Statement
   Describe its type of ownership structure (Sole proprietorship, Partnership, etc.)
    along with names, photos, and job titles and descriptions.
   Location
            Must be realistic and specific – it must be in the K-W or surrounding area.
            Property must be suitable for your business.
            Provide actual real pictures of the location.
   Logo for Company Identity (rationale)
   Slogan for Company Identity (rationale)
   Create business card for each team member.
   Fill out the necessary business registration forms for your type of business and fill
    them out. The local business registry office in City Hall in downtown Kitchener.

                                Step 2: Product

   Create a brand name for your specific product. Explain your choice
   Describe in detail your product. Explain whether you believe it is a need or a
    want for society? Why?
   Discuss things such as image, warranty, and what stage of the product life cycle
    your product and related products are in.
   Create a Benefit Analysis. (see Chapter 5, page 202 in textbook ) Include both
    Utility and Benefit Analysis together.
   Classify your creation as a convenience, shopping, specialty or unsought good.
   List the features of your idea. Describe what it does, what it is made of, its price,
    and where it can be acquired. Give details of colors and sizes and any special
    features. You should research features of similar products or services. Use
    information found in Consumer Reports, Business Magazines and the Internet.
    Photocopy some of the information you find to insert in the Appendix Section of
    your project.
   Create a Benefit Analysis. (see Chapter 5, page 202 in textbook)
                      STEP 3: Distribution Channel

   Where and how would your product be sold? (Discuss distribution.)

                           Step 4: Target Market

   Clearly identify your target group. Provide demographic and psychographic
    information to clearly explain your group. Provide a rationale to give credibility
    to your choice of target group. (i.e. Why is this group the target audience?)
    (Provide both a primary target group profile and a secondary target group
    profile. Give some thoughts to expanding your target group in the future.

   Complete an MOA (marketing opportunity analysis). Include the three parts:
    Overall Market, Indirect Competition and Direct Competition. (Chapter 5 can
    help you with this)

                         Step 5: Market Research

   Discuss Primary Sources that you would use.
   Discuss Secondary Sources that you would use. (Stats Can: size of target market)
   Create a questionnaire to be administered to at least 100 people. It can be on-line
    using “Survey Monkey” or on paper. It should be completed by a variety of
    people not just students to determine if you identified the right target market and
    if there will be enough demand for your product. Be sure to follow the guidelines
    studied in class. Be sure to include at least three demographic questions and at
    least 12 - 15 questions in the body. Be sure to include a large variety of question
    types in the survey. A copy of this survey must be included in this section.
   Summarize your findings in “tabulations form”.
   Prepare an analysis of your collected data. (Conclusions format) This should be
    done for each question individually.
   Include visual summaries for at least five questions. (Graphs/Tables) Be sure to
    choose questions that have some validity to the actual product. These visual
    summaries must be computer generated and in colour.
   Make clear recommendations based on your findings. What is the public telling
    you about your “new product”? Were there any interesting “common findings”.
   The actual surveys administered should be collected and put in a separate file
    folder. These will be handed in with your project for proof of completion.
   In addition to your survey work, complete a SWOT analysis.
                                     Step 6: Price

      Set a price for your product based on your research.
      State the pricing strategy you will use based on your classroom notes.
      Identify the specific pricing of your competitors.
      Estimate the Market Potential of your product.
       (Statistics Canada website and your marketing research data to calculate this).
       The formula: MP = N * P*Q

   N= # of target consumers in K-W, P=Retail Price, Q=number of purchases per year

                                 Step 7: Packaging

      How will your product be packaged?
      Explain in detail how your package meets the three functions of packaging as
       discussed in class. (Protection, Preservation, and Promotion).
      Prepare a professional, actual scale package for display purposes. The label
       should include all of the legal requirements (research the Internet if necessary). In
       addition, you may use marketing textbooks as additional references.
      Certain colors mean certain things. What colors were chosen and why?

                                 Step 8: Promotion

a. Product Launch
    Create a sales promotion you will use in introducing your new product/service. It
      can be a contest, coupons, sponsoring an activity, unveiling the product or service
      at a trade show or exhibition, giveaways, or any other idea that you feel work.
      Often times, a company will use a variety of the above. Be creative in this part of
      the project but also it is important for you to set a realistic budget. I expect a
      number of different ideas will be incorporated into the launch. Be thorough in
      your explanation of each.

b. Press Release
    Prepare a press release to inform the public about this product launch. Go on-line
      and find an example of a press release.

c. Newspaper Advertisement
    In order to inform potential earthlings about your product, you have decided to
      run an ad in the K-W Record. Complete the following:

                      Finished Copy
                      Rationale Sheet (reasons for your choices)
d. Radio Advertisement
    Create a 30-second or 1-minute spot.
    Include a copy of the script as well as a tape of the actual commercial
    When exactly would you air this commercial?
    Identify the type of commercial.
    Calculate the cost and frequency of your commercial.
    Be sure to identify which two radio station’s you used to calculate the exact cost.

e. Magazine Advertisement
    Create a finished full page Ad.
    Where would you place it within the magazine? In which magazine(s) Why?
    Discuss when you would schedule this ad to run.
    Cost out the ad.

f. Billboard Advertisement
    Prepare a billboard.
    Location of billboard. Be specific. You must find an existing “approved”
       location in this area. Provide rationale.

g. Yellow Page Advertisement
    Prepare a final copy of the ad you would place in the local yellow pages.
    Include pricing and scheduling. Identify your “contact person” at Yellow Pages”

h. Television Advertisement
    Prepare a 30-second or 1 minute television commercial on video.
    When and where would you air this commercial? (rationale)
    What are the costs associated with this type of advertising?

i. Web site Creation

      Create an actual web site that promotes your company and makes specific
       reference to your new product.
      Be creative and have various links included.
      What, if any, type of advertisers will you have on this web site?
      What are the costs associated with this venture?

i. Facebook or Twitter Ad
               Step 10: Appendix/Supplementary Information

      Anything to support the business plan

                                 WORK SCHEDULE

Students will have a great deal of class time to work on this project. It is, however,
understood that the group is expected to work outside of the classroom time. A specific
work schedule for this project will be distributed in the near future.

                                   Assigned: TBA

                                      Due: TBA

Oral Presentations

(30 minutes per group) will take place TBA. All students must be present for all
presentations and each student must have an active role in the presentation.

**After receiving your group mark, individual groups will distribute
Their marks based on the efforts of the individual group members.
Daily work logs must be kept.

Executive Summary                                                        /15
                             Creation of Company
     Company Name/Rationale (3+2)                                 /5
     Company Mission Statement                                    /5
     Organizational Structure (Diagram/Photos/Job Descriptions)   /13
     Location/Rationale           (5 + 2)                         /7
     Logo/Rationale               (10 + 5)                        /15
     Slogan/Rationale             (10 + 5)                        /15
     Business Card                                                /5
     Business Registration Forms Filled Out                       /5

                         Product/Service Description

     Idea                                                         /10
     Brand Name (Rationale)                                       /10
     Full Technical Description/Features                          /20
     Discussion of utility                                        /10
     Classifying product                                          /5
     Benefit Analysis                                             /15

                             Distribution Channel
   Your Distribution Channel/Rationale                            /15
   Market Opportunity Analysis                                    /60

                                 Target Market
   Primary Target Market Consumer Profile                         /15
   Secondary Target Market Consumer Profile                       /15
   Future Target Market Consumer Profile                          /15
                                Market Research
     Survey                                      /25
     Tabulations                                 /15
     Written Analysis of Data (Conclusions)      /25
     Visual Summaries/Graphs of Data             /25
     Recommendations                             /15
     Completed Surveys Included                  /20
     SWOT analysis                               /25

   Pricing Strategy                              /10
   Competitor Pricing                            /10
   Market Potential Calculation                  /10

   Explanation                                   /15
   Actual Package                                /50

     Product Launch Strategy                     /10
     Press Release                               /10
     Newspaper Ad.                               /10
     Radio Ad                                    /10
     Magazine Ad                                 /10
     Billboard Ad                                /10
     Yellow Page Ad                              /10
     Television Commercial                       /25
     Promotional Web site                        /30
     Facebook/Twitter Ad                         /15

Appendices                                              / 25
                                Report Set-Up
     Title Page                                                     / 5
     Table of Contents                                              /10
     Proofreading/Proper Use Of English (any spelling Mistake –1)   /30
     Daily Log/Work Reports Included (Attendance sheets provided)   /20

Total for Setup                                                             /65

Total Written Report:                                                       /810
Total Oral Report: (30 Minutes)                                             /200

Grand Total:                                                               /1010

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