Cereal project - PDF

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Comprehensive notes from Mr. Zapfe ...

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MARKETING PROJECT MARKETING A NEW CEREAL SEE RUBRIC FOR EVALUATION THIS IS A MAJOR PROJECT DUE DATE: Monday March 7, 2016 INSTRUCTIONS: This project can be done in groups of 1, 2 or 3. There is a detailed mark breakdown in the file called Cereal Rubric. You have been hired by BZ Food Company to market this new cereal that rivals all other cereals on the market. BZ Food Company wants a well thought out marketing strategy for this new cereal. Listed below is all the jobs that will need to be done for this project. Know who your target market is first before you start this project, as all else should fall into place. USE THE FOLLOWING WEB SITE TO HELP WITH IDEAS: http://www.advergize.com/advertising/33-creative-cereal-slogans/ JOB 1 Brand Name Development - design a brand name for this cereal (similar to what you did with the mystery product). Brand name must capture the essence of what this cereal is all about. It should go be part of the front design of your cereal box. JOB 2 Trademark/Logo - design a trademark for this cereal, keeping in mind who might be your target market. Trademarks can be how the name is designed e.g. Coca Cola. JOB 3 Slogan/Jingle - come up with a suitable slogan that again matches what this cereal is all about and captures the attention of your target market. JOB 4 Target Market -Describe in a paragraph or two, your target market in detail. Refer to notes on the consumer market and the various segmentation of the consumer market i.e. Demographics (Age, Gender, Family Life Cycle, Income Level, etc.) vs. lifestyle(the way people live: their values, beliefs and motivations). JOB 5 Product Life Cycle -Using the form in your file called Product Life Cycle for the Cereal Project; complete the form according to the instructions. JOB 6 Market Strategy -Describe in a paragraph or two a well thought out marketing strategy. Refer to notes on the 4 P’s of marketing. For the promotion aspect of your market strategy you must design a promotional piece for the cereal (i.e. a coupon, contest, premium, samples, etc.)

JOB 7 Package - Create a package that follows the three main guidelines of protecting, containing and promoting this new cereal. Refer to the article on the importance of packaging. Actually, find a cereal box that you can adhere your front, sides and back. REMEMBER, cereal comes in different size boxes. JOB 8 Presentation -You and/or your group will do a professional presentation in which you will need to sell your idea to the board of directors (Mr. Zapfe and class). It is highly recommended for the presentation that you do it in power point. YOU ARE EXPECTED TO HAVE ALL WORK COMPLETED BY THE DUE DATE. THERE ARE NO EXTENSIONS FOR THIS PROJECT. IF YOU ARE NOT READY TO PRESENT OR ARE ABSENT ON THE DUE DATE, YOU WILL RECEIVE A FAILING MARK. CAREFULLY READ THE RUBRIC ON HOW YOU WILL BE EVALUATED. YOU AND ONLY YOU WILL DETERMINE WHETHER YOU WILL GET A LEVEL 1 MARK, OR A LEVEL 4 MARK. GROUPS THAT WORK IN TEAMS WILL BE GIVEN EVALUATION FORMS TO EVALUATE THEIR TEAMMATES. MARKS WILL BE GIVEN OUT ACCORDING TO HOW YOU PERFORM WITHIN YOUR TEAM. ALL MAJOR PROJECTS RECEIVE WORK ETHIC MARKS. LOOK AGAIN ON THE RUBRIC ON HOW YOU WILL BE EVALUATED ON THIS.

NAME: _______________________________________

DATE: ____________________________

PRODUCT LIFE CYCLE FOR CEREAL PROJECT When this product enters the product life cycle, it will be up to the customer to determine how long the product lasts on the market. However, as the marketer behind the product, you need to have a strategy in place for each stage of the product life cycle. Using the space below, recommend how you will advertise and place the product at each stage of the life cycle. Provide a rationale for your choices. Consider your choice of advertising mediums that will be suitable to your target market. You cannot do this form until you know who your target market is. Refer to your note on Product Life Cycle.

INTRODUCTION STAGE

GROWTH STAGE

MATURITY STAGE

DECLINE STAGE

CEREAL PR PROJECT OJECT EV EVAL AL ALU UATION SHEET NOTE – PRODUCT LIFE CYCLE DOES NOT NEED TO BE COVERED IN PRESENTATION, ONLY IN WRITTEN PACKAGE. IF PART OF A GROUP, EACH MEMBER MUST PARTICPATE IN PRESENTATION. THOSE THAT DO NOT, WILL NOT GET A PRESENTATION MARK. MARK BREAKDOWN BY CATEGORY (each criteria is followed by a letter which indicates the category) KNOWLEDGE

/25

THINKING/INQUIRY

/20

COMMUNICATION

/40

APPLICATION

/20

BRAND NAME, TRADEMARK AND SLOGAN BRAND NAME REFLECTS IMAGE OF PRODUCT (T)

1

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5

BRAND NAME IS EASY TO READ (A)

1

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5

BRAND NAME IS CREATIVE AND HAS SHOWN REAL EFFORT IN DEVELOPMENT (T)

1

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4

5

TRADEMARK IS CREATIVE AND REFLECTS BRAND NAME AS WELL TARGET MARKET (T)

1

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SLOGAN IS CREATIVE

1

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(T)

TOTAL

/25

PACKAGING PACKAGING REFLECTS IMAGE OF PRODUCT (A)

1

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PACKAGING HAS A GOOD FORM (K)

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PACKAGING IS FUNCTIONAL (K)

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BRAND NAME IS CLEARLY SHOWN ON PACKAGING (A)

1

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OVERALL GOOD QUALITY ON (A) CREATIVITY AND USE OF COLOUR

1

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TOTAL

/25

PRODUCT LIFE CYCLE Students show a clear understanding of each stage of the product life cycle (K)

1

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5

Students communicate well their strategy at each stage of the product life cycle (C)

1

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5

/10

TOTAL

MARKET STRATEGY Students incorporate each of the 4 P’s Into their market strategy (K)

1

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Students are thorough in their Communication of their market strategy (C) 1

2

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5

/10

TOTAL

TARGET MARKET DESCRIPTION Students demonstrate a good understanding of market segmentation through their target market description. (K) 1

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5

Students communicate well who their Target market is. (C)

2

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5

1

/10

TOTAL

PRESENTATION Good overall presentation of cereal project that shows the following: (C) - Confidence in product that was created - Creativity in design of cereal - Well-spoken during presentation - Market strategy explained well - Target market was described

1 1 1 1 1

2 2 2 2 2

3 3 3 3 3

4 4 4 4 4

5 5 5 5 5

/25

TOTAL

WORK ETHIC - Consistently on time for class - Attendance is good

1 1

2 2

3 3

4 4

5 5

- Project handed in on time - Good use of class time TOTAL

1 1

2 2

3 3

4 4

5 5

/20...