Market Research
Before it is possible to market a product, a critical component is to conduct extensive market research. In this first part of your three part final project, your focus will be to decide on a local product in your community (it can be a local product or a national brand). Your research will be all about your local community and the potential viability of that product in your community.
In this Market Research Assignment you will answer the 6 topics below:
1. Why did you create or select this local product?
2. Why is this product important to your community?
3. What is the demographic of this community (will requires Census Data)?
1. Age
2. Income
3. Education
4. Population
4. Will any of the Census information impact the success of this product (explain)?
5. Explain how you fit in the demographic of this community and would it impact you buying this product (explain)?
6. What did you learn from this exercise (conclusion)?
Compile your 5 page (excluding cover and reference pages) Market Research report with three outside references using APA format and citation style.
Now that you have researched a local product in your community and selected the most viable product, the next step is to develop a story board that provides a complete picture of the direction of your advertising campaign. This pictorial is not just about the commercial, it is about the components that make the campaign.
You will utilize Prezi.com to complete the storyboard which will consist of four parts listed below. The storyboard sections will be:
1. Product Selection: Provide core detail on the product, what it is, why you use it, why is it important.
2. Define Demographics: Age, sex, family, economics, etc. and why they are important.
3. Global Marketing Position: Where would it sell and why did you select this area?
4. Build the Script: Write your script and place it in this storyboard. Please review the following link to help you write your 30 second TV commercial script at
https://www.procopytips.com/tv-commercial-script
Hint: If you have not used PREZI before it is recommended you visit the site and take the tutorials for using it. If you have used it before you might want to refresh your knowledge.