April 30

Finish Presentations

Introduce Positioning, our next topic. 

Thursday April 26

I'm sorry for being away.  We will do your Ad Presentations TOMORROW.  I had to go and pick up my sick son from school

Please answer the following questions fully (minimum 5 sentences each).

1)  Could it be valuable for a company to offer items even if they are not profitable? Why or why not?

2)     In your opinion, what are some of the ethical issues surround the use of some research observation methods? 

Today we will be looking at Market Research.

Questions.

1. What is a customer tracking device?  Give and example.

Use the following links to help you with questions 2 and 3.  LINK 1    LINK 2

2. What are some of the companies that will pay for market research?  Why would they do this?

3. (this question is not mandatory).  Sign up or download an app for market research.  What type of questions do they ask you?  Why do they ask you this information?  Do you think that your answers while signing up will affect what survey's you receive? Why/why not. 

Commercial Day

Market Research Project.

Now that you know a little bit about Market Research, it is time for you to conduct some of your own.

First Step: Decide a topic to 'research' or find out about?  Think about who your target research group will be (probably 13-18 year olds)

Second Step: Do some internet research to see if there is any SECONDARY research on your topic.  Record what you find.

Third Step: Conduct PRIMARY Research.  You are to create a survey of at least 5 questions and ask at least 30 different people your questions (half can come from this class).  You can do this on paper, or on-line.  You may use social media if you wish.  You may use Survey Monkey or Google Forms.

Final Step: You are now to compile a report of your findings.  Include, what questions you asked.  What were the Hard Data (numbers) results.  Include at least one graph.  What secondary evidence did you find.

Commercial Day

Notes on Market research 

(power point available here:)

http://www.tutor2u.net/business/presentations/marketing/marketresearchmethods/default.html )

Good morning, sorry for being away today ill.   We are going to look at the world largest auto show. This is where cars are announced and the process of selling to the public begins. Some cars here are just CONCEPT cars, others are ready for production. The idea of a concept car is where Research and Design meet market research.  It is where they can start to see how the public react to the car.  Please use the following link to answer the questions. 

LINK

1. What is a concept car and why are they made?

2. You are now to pick 2 of the cars highlighted at this link. For each one, please give a brief write up (in your own words) and include a picture. In your write up include the main interesting features of the car, a picture, how is it different than its competition, its target market and whether or not you feel it will be successful. 

Quiz

Marketing advertisement presentations:

Each student is to choose on advertisement and present it to the class. Your presentation must include:

* the ad itself

* the target market

* advertising strategies that are used

* strengths of the ad

* weaknesses of the ad

* at least one question for the class and then you are to guide the class in a discussion.

OUT OF 30 MARKS!!!!

Due Next Tue and Thur, April 24 and 26.  

Quiz Tomorrow! (Terms below)

Go to the following link and answer the following questions.

https://www.virgin.com/

1. What is the product mix for the Virgin brand (look under the discover Virgin Tab)?

2. What challenges would such a diverse product mix present for the people in charge of marketing?

4. What type of person is Richard Branson, what are his characteristics, and do you think that his personality has contributed to his success? Explain.

5. Explore the virgin website. What are 5 things that you find interesting or ways that they market themselves in a not typical way?

CHAPTER 3 and 5 STUDY TERMS

All of the following are fair game for MONDAY's Test!!

innovation
invention
freasability study (study to see if it can be made and if it will make money)
utility
form utility
information utility
place utility
possession utility
product mapping
knock off
word of mouth marketing
tween
age compression
ergonomics
What can be done in store layout to Increase sales and Decrease Shrinkage.
loss leader
Product Life Cycle (introduction, growth, maturity, decline/decision point)
Economic Cycle
Free Market and some benefits
Command Economy

Commercial Day

All of the following are fair game for MONDAY's Test!!

innovation
invention
freasability study (study to see if it can be made and if it will make money)
utility
form utility
information utility
place utility
possession utility
product mapping
knock off
word of mouth marketing
tween
age compression
ergonomics
What can be done in store layout to Increase sales and Decrease Shrinkage.
loss leader
Product Life Cycle (introduction, growth, maturity, decline/decision point)
Economic Cycle
Free Market and some benefits
Command Economy

NEW PROJECT

New Products /

Igniting the Buzz

We have been looking at Product Development.  Some products are Fads, some are Niches, and some are here for the long haul.  In this assignment, you are to take your knowledge as a marketing professional and predict some of the newest ‘hot’ products in on the market.  In other words, you are to find one product that is less than a year old (or has only been available to the general public for less than a year) that is not currently popular, but you think it will become popular and successful. 

You may do this in partners. 

Your assignment should include:

• Name and description of the product/service (what it does, a picture, price etc)
• Who do you think the intended target market for this product/service are? Will it be a niche, fad/trend, or a main stream product?
• Next you must describe the Products Utility.  (Form Utility: material, scent, flavour, colour, design, packaging, Information Utility, Place Utility, Time Utility, Possession Utility)  Some of these may not apply to all products
• You must then write a paragraph, using the information that you have presented above, to explain why you think the product will be successful.  Remember to take into account how the product is being marketed.  Sometimes good products do not sell well if they are marketed poorly and poor products can sell well if they are marketed well. 

Here are some links to help get you started finding New Products (You are welcome and encouraged to find products on your own as well)

Great new product site of products that are just hitting the market

https://www.shopify.ca/blog/best-products-sell-2018

https://www.livescience.com/topics/invention

Due on Friday.

Start by reading 'Product Mapping' on pgs 191 - 193 in your textbook.

1. Define Product mapping in your own words.

2. Look at Figure 5.26 on page 193. This is an example of a product mapping chart. You are to create your own chart (ON THE COMPUTER) using the following Information:

The TOPIC is Snack Foods

Use the same category rating scales:

messy ---------------------------- easy to eat

unhealthy/fattening -------------- healthy/low fat

boring/traditional ---------------- fun/interesting flavours

expensive ----------------------- inexpensive

The snack foods that you are to put on the chart are:

pudding (chocolate, vanilla, etc)

cut up veggies

fruit (apples, bananas, etc)b

granola bars (and similar products)

cheese snacks (handi snacks, cheese strings etc)

crackers (saltine, ritz, etc)

chips (tortilla and potato)

3. When you are done, share your results with someone else. Explain how similar or different your chart was.

Commercial Day

Notes on product utility.  

Assignment.

If things like deodorant, lipstick, and toothpaste serve the same basic purpose, how do marketers DIFFERENTIATE their brand?  Pick two similar direct products and compare them looking at the Form Utility each.  Compare in a chart using the following categories.  Some may not apply to your products. 

Function (what does it do)
Material (What is it made out of)
Scent
Flavour
Design (this would include the packaging, how is it designed)

Is there one that stands out more even though they both serve the same basic function?  Why?

Field trip on April 20th

Includes, snacks and lunch!!!

LINK 

Assignment:

Failed Products Assignment!
Go to the following links or you can search for your own and find 3 products and answer the following questions for each product. Answer in SENTENCES and YOUR OWN WORDS please.

http://www.businessinsider.com/biggest-product-flops-in-history-2016-12

https://247wallst.com/special-report/2017/04/14/50-worst-product-flops-of-all-time/2/

1. What company did you choose? Is the failure a product or service?
2. Can you find a picture of the product on the internet? If so, paste it into your work. (google images might help)
3. Describe why the product/service failed?
4. Do you think that this product/service could have been successful if it was marketed differently? WHY/WHY NOT?
5. What can other companies and marketers learn from this failure?

Remember you must choose 3 products.

Talk on inventions and innovations.   (Discussion videos HYPERLOOP, DEEP SPACE)

Today we are going to move onto inventions and innovations.

Use this LINK for the following questions.

1. Pick 5 different products from the list. For each one, say if it is an invention or an innovation and explain why.

2. Pick one product that you think will be a success and explain why?

3. Pick on product that you think will not be (very) successful and explain why?

4. Go to the following link listing some Canadian Inventions and pick THREE (3) 'inventions' and answer questions a,b, and c

LINK

a) Who is the 'inventor'?
b) What is the invention?
c) Is this actually an invention or an innovation? Why?