Assignment:
PRODUCT ASSIGNMENT
A. List and describe the 8 value features for your product. Choose four (4) value features that you will use in your product description. Your description should be no longer than a paragraph (4-5 sentences). Use a ‘Unique Selling Proposition'
Approach for your description that is exciting and characteristic of your product offering.
USP EXAMPLE:
(Example: Toothpaste - "Cinnabrite...the new whitening toothpaste with a fantastic cinnamon taste. The revolutionary crystal ingredient promotes safe whitening and fresh breath. With an easy to use push button top, Cinnabrite is guaranteed to make brushing your teeth a new guilty pleasure...So Cinfully Good!
Tropicleen - the new all natural shampoo that leaves hair feeling soft n' healthy. With an easy to use innovative pump dispenser that pours the right amount of flavor leaving an all day refreshing tropical scent...Paradise in Bottle!
Sun Switch...The solar operated toothbrush with switch-able cartridges. Whiten...floss...brush with an easy-to-use comfortable design. Sun Switch...switch it up!
Hydra-Patch...first of its kind easy-to-use hydration monitor. Using long-lasting pads that produce fast results for active individuals our patented technology creates an easy to read color-coded system that indicates your hydration needs. What's your level?
Fuego...The revolutionary grill with three independent cooking surfaces adjusts with a simply touch of a button. Our uniquely designed hidden smoker provides maximum taste and quality. With convenient temperature controlled storage, Fuego's Smart Grilling System advances BBQ beyond the 21st Century...what's under your hood?!
B. Evaluate your product as an innovation as the intended market perceives it:
1. What is the relative advantage over competition - what makes it different?
2. Compatibility of product - can it be used in conjunction with other product?
3. Complexity of the product - how difficult is it to use or consume? Difficult? H/M/L?
4. Ease of trial - how will people find out about your product? Easy? Difficult? H/M/L?
C. Indicate any major problems or resistance to your products acceptance based on the analysis completed in item B above. (Information will be used to develop communications to overcome obstacles that may be used on your final Print Ad project.)
D. Positioning:
1. How is the product category defined? Indicate the industry category and the Standard Industrial Classification. (Google SIC or NAICS)
2. What is the estimated rate of growth for the product category? See attached.
3. How easy is it for a new competitor to enter the market? Explain?
4. Do substitutes exist for your product? If so, identify the product and companies.
5. How will you position your product relative to competitors? (Competitive price range?) HH, MH, LH...UM MM LM...UL, ML, LL.
E. Branding:
1. Who are the major competing brands in your market?
2. Create a Trademark or distinct logo for your product. Explain your conceptual idea in writing along with the logo.
3. Create a "Theme or Tag Line" that will help identify your product. (Use three words only in your tag line.)
seven tips to help create a logo:
1. Strong balanced image, little clutter.
2. Distinctive and bold, easy at a glance.
3. Graphic imagery that is appropriate for your business.
4. Works well with company name.
5. Easy to read font.
6. Communicates your business clearly.
7. Look good in B&W and Color.
F. Packaging: Review the following points before creating your package.
• View packaging as a promotion carrier.
• Make sure packaging clearly communicates the name and benefits of your product
• Be as creative as possible with our packaging. Make it unique and make it stand out...but keep it simple and functional.
• Packaging must provide a message that is both explicit and implicit which is consistent with your product positioning and brand image.
CREATE a rough draft of your package design that will communicate excitement and distinguish your product from your competitors.
Rules:
• Paper should be typed with illustrations of brand logo and packaging attached
• You will be graded on creativity and consistency of your work.
• All late papers will be subject to a full grade reduction.
• You should identify each section by the outline given on this assignment sheet.
Tips for developing a Tag line for your Product
1. Make certain you know what you want to communicate to your customers through the use of the tag line.
2. Brainstorm using other tag lines.
3. Pay attention on how words are put together, and whether they address the following:
4. Does your tag line answer the following questions?
a. Who are your customers?
b. What benefits do you give your customers?
c. What feelings do you want to evoke in your customers?
d. What action are you trying to generate from your customers?
e. How are you different from your competition?
Examples:
Aussie Shampoo - The Aussie Way
Lubriderm Lotion - Sensitive Skin Therapy
McDonald's - Just love-in it
Nike - Just do it
Burger King - Have it your way
Federal Express - On time...around the world
One of the tag lines listed above is not correct...can you determine which one?
Attachment:- Global market.rar