Task: Approach this from an entrepreneurial prospective as if you are launching a new venture without your company's support
Part 1:
Locate an advertisement for a food or beverage product on the Internet. Attach a copy of the advertisement or provide a URL to the ad with your response:
Explain the advertisements intent, and critique its effectiveness.
- What type of person - social class, culture, lifestyle, values/beliefs - does it intend to target?
- What consumer need is the advertiser trying to fulfill?
- How would you describe the ad's effectiveness in targeting the consumer?
- Describe the persuasive technique being used in the ad (humor, sex appeal, shock appeal, etc).
- Would you recommend this technique for other products in the same category? Why or why not? If not, what products might be appropriate for this approach?
Part 2:
Develop a written proposal outlining a specific product or service idea you have as the product manager for Triangle Solutions. Triangle's company type and product area have been left unspecified in order to allow you creativity in invention of your own product ideas and exploration of areas of interest in the market. You may not use the same area or idea used in part 1. Be sure to include the following in your response:
1. In the proposal, make a case for your new Triangle Solutions product that clearly states the need in the market, the pain points felt by customers, and the solution the new product will deliver.
2. Research the industry and market for the product, providing data on its size, growth, and so forth. Ibisworld.com or Standards and Poor's are great industry and market resources.
3. Provide some ideas for marketing strategies may be used to effectively introduce this product to the market. What channels will be used? What aspect(s) of the product should be emphasized? How will it be priced? How will these approaches achieve results?
4. Approach this from an entrepreneurial prospective as if you are launching a new venture without your company's support.