Grading Descriptors

M1 – Identify and apply strategies to find an appropriate solution

M3 – Present and communicate appropriate finding

D1 – Use critical reflection to evaluate own work and justify valid conclusions

Conclusions are justified through deep analysis and research.

D3 – Demonstrate convergent, lateral, or creative thinking

Not only does the product/service occupy a truly unique position in the market, but it has also been shown that the student understands how to maximize the competitive advantage of this unique position.

Situation:

Welcome to the Dragons’ Den, my budding entrepreneur! 

You and your partners have chosen A) a product/service that does not exist in Czech Republic, or B) a product/service which exists here but does NOT exist in another market you would like to target. You are to prepare a presentation outlining your MARKETING PLAN to be presented in class to all fellow students, some of which will be DRAGONS considering investment in your product. Keep in mind that the whole point of this presentation is to get the Dragons interested enough to INVEST in your idea. Be clear about your objectives, needs, and plan.

Below are closer specifications as to how to answer the ‘pass criteria’ points so that they relate to your chosen product or service: 

A note: Every member of the group must be capable of showing a firm grasp of all the concepts listed below. Know that during the presentation, each of you will be called upon by the lecturer to demonstrate knowledge of sections of this assignment which you are not yourself covering. For example, if Bob Bobberson is discussing targeting strategy (2.3), the lecturer WILL require his partner, Jane Janesburg to display her knowledge of the subject as well.

• Show macro and micro environmental factors which influence your specific marketing plan. PESTLE and SWOT will be useful here (2.1)

• Choose a targeting strategy for your selected product/service. How will you reach the exact people you want to reach in order to sell as much of your service/product as possible? (2.3)

• Explain how your product/service is unique in order to sustain its competitive advantage. If it is not truly unique, which most products aren’t, how will you be able to differentiated it from others? Does this uniqueness hold any competitive advantage? If not, how will you create it? (3.1)

• Explain which distribution options you have chosen in order to provide maximum convenience for your future customers. Why is this the best way for your product to be made available? Can you realistically satisfy your customers while still keeping distribution costs at a manageable level? (3.2)

• Show and explain which price strategy you chose for your product/service to meet your marketing plan objectives and market conditions. How do you plan to enter the market- slowly and then build up customers? or slash and grab- get as many customers as you can initially and try to keep at least some of them? Or another strategy? What will your pricing look like after 1 year? (3.3)

• Create a simple integrated promotional campaign and illustrate how it will help you achieve your marketing objectives. Where, when, and how will your customers be educated about and encouraged to purchase your product? (3.4)

• Analyze the elements of the extended marketing mix that may pertain to your product/service. People, process, and physical evidence all play a role in how your product is received by the public. How are you going to shape that conversation? (3.5)

• A printed copy of your Executive Summary will be turned in to the lecturer on the day of your presentation

• In-class presentations will be made in the Friday class during Week 10 

• The presentations will be uploaded to Moodle by Friday, April 22^nd 2016 before 23:59