Shark Tank

 

Step 1: Watch the Shark Tank video

https://www.youtube.com/watch?v=v_a0mzD9DJQ

If the link doesn’t work, please copy paste the URL.

(Bottlecap Jewelry)

Step 2: Stop the video immediately before Sharks give their decisions.
Step 3: Answer the questions. 
             All the answers combined should be no less than 250 words
             The answers are based out of your marketing ideas, NOT what the Sharks say and
              NOT what the pitch presenter’s information provides.
              Refer to your textbook for marketing terminologies and concept to submit
              marketing-based responses.
Step 4: Resume watching the video if you like.

Q1. Should the Sharks invest? Why, Why not?
This is based NOT on the what happens in the show, but whether YOU think Sharks
should consider this pitch a good business investment.
Discuss: (a) product idea, (b) marketability, (c) future growth, (d) investment

Q2. Would YOU invest? Why, Why not.
Discuss: (a) product idea, (b) marketability, (c) future growth, (d) investment

Q3. If this were your marketing idea, who would YOU select as the Target Market?
(a) Who would  be the primary target market?
How large in number are they according your research?
(b) Who would be the secondary target market?
How large in number are they according your research?

Q4. What would be YOUR Product Positioning?  Remember, if the product is not CLEARLY
different from the existing competition or similar products,  consumers will not find the
justification to change their behavior to take a risk to try your product.
(a) How would you present this product to the market?
(b) What would you say is the Competitive Advantage?
(c) How would you clearly position the product different from competition, whether it be
direct  competition or indirect competition?

Q5. How (what media platform) would you communicate?  Do not just select Social
Media – Social Media is not necessarily the best way to promote for  most of the
products.
What will your promotional message say?

Q6. How would you distribute the product considering your maximum profitability and
exposure, as  well as customer convenience?
Explain your response.

Q7. How would you price the product, considering customer’s perception of value, your
goal of penetration / selectivity, and in accordance to the product positioning?
Explain your response.

Q8. Using your marketing creativity, how else do you think the product can be used?
Explain your idea in how this core product can be made into other line extensions
(e.g. cereal made into cereal bar, packaged together with yogurt or ice cream for
topping, etc.)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s