FINAL PROJECT

Due Next THURSDAY

Are you Good Enough to Fail?

The Assignment:  You are to come up with a GOOD Commercial that uses good strategies and captures people’s attention.  Since you are experts in Marketing, that should be easy enough.  However the challenge is that you have to make a good commercial that is for a bad product.  In other words, come up with a bad idea, and then sell it with excellent promotion.   You may work alone, or in a group up to a MAXIMUM of 3 people.

Outline for the assignment:

• You must create either a video commercial or a series of print advertisements that are good quality and use proven marketing strategies.  The ad must be for a BAD idea.  It must be a GOOD commercial. (30)

•  After you finish your commercial/poster/video presentation, the class as a whole will decide whether or not your commercial is a ``GOOD``  and whether or not it would actually Backfire.    (10 marks) {Peer evaluated}

• TOTAL 40 Marks

FINAL EXAM NEXT WEDNESDAY

Here is a list of terms for Chapter 1

Here is a list of what you are responsible for knowing for the Final Exam. Today we will have to computer based review activities and then you are to work on writing brief definitions for the following terms to study from. We will work on the difficult ones as a group.

* = Not in Textbook

Marketing:

Supply and Demand

Marketing Organization (Regional, International, Brand, Distribution)

Target Market

Marketing mix (4 P's)

Product Mix

Promotions Mix

Pricing Mix

Place Mix

Brand / Branding

Push strategy

Pull strategy

Chapters 2 and 3.

Here is a list of what you are responsible for knowing for the Final Exam. Today we will have to computer based review activities and then you are to work on writing brief definitions for the following terms to study from. We will work on the difficult ones as a group.

Chapter 2

Customer

Consumer

Gatekeeper

Product Life cycles (traditional, seasonal, fad, niche)

fad vs trend

demographics

baby boomers

Thorndikes Law of Effect

Maslow's Hierarchy of Needs

Household name

* Celebrity endorsement

Bust

* Spin off product

Chapter 3

profit

free market

perfect competition

monopoly

oligopy

private property

public property

R & D (research and development)

direct competition

indirect competition

customer loyalty (card)

production cost

Top of the mind

Service base

Product base

value added service

market share

* communism

market segment

landed cost

category killer

Chapter 4

market research

hard data

primary data

secondary data

quantitative research

qualitative research

test marketing

closed ended questions

open ended questions

Chapter 5

invention

innovation

utility

form utility (material, sent,flavour, colour, design, packaging)

information utility

place utility

time utility

possession utility

* GATT

* WTO

* Subsidies

* Hyperinflation

* Tween

* Age Compression

* Word of mouth marketing (idea virus)

* commercial real estate

* residential real estate

(*) Slogan

(*) Jingle

* Knock off

Here is the list of terms from Chapter 9.

Advertising is most important for

1identical

2mass marketed

3easy to describe

4low priced

5new

6heavily competitive

Brand awareness

brand trial

brand preference

brand reminder

brand repositioning

Unique selling proposition

biological appeal

emotional appeal

rational appeal

social appeal

8 Types of media with advantages and disadvantages for each.

Lobbyist

Contests and sweepstakes

refunds and rebates

self liquidators

Chapter 6

Mark-up
margin
variable costs
fixed costs
break-even point
economy of scale
price-fixing
msrp
bait and switch
skimming
marketing boards

June 7

Commercial Day.

Talk on Pricing and the Oil Price Game.

Questions.

1. Please define the following terms (Ch 7 in the textbook)

Mark-up
margin
variable costs
fixed costs
break-even point
economy of scale
price-fixing
msrp
bait and switch
skimming
marketing boards

2.  Come up with 2 examples of economies of scale.

3. Come up with 2 examples of diseconomies of scale.  (pg 250-254)

June 6

Talk on positioning.  Read pages 206-210

Next, use the following chart to compare 2 brands. 

THEN:  Write a summary paragraph on which Brand is better and why, using the evidence from your chart. 

COMPARISON OF THE PRODUCT POSITIONING OF THE JONES SODA COMPANY AND THE ARIZONA BEVERAGE COMPANY Type of Positioning Benefit      Target      Price      Distribution      Service

Today we will be continuing to look at Brand Extensions, Spin Offs, and Co-Branding.  We will be doing this using LEGO.

We will start by watching a short documentary on LEGO.

1. What did the Lego company do to turn the company around and make it more profitable?

After watching the movie, go and explore the LEGO website HERE.

2. List 5 or more areas where LEGO has Extended itself.

3. List at least 5 Co-branding examples with LEGO.

4. For the following LEGO lines HERE, pick 5 and explain who are they targeting (the target market for that line)?

Junen2

Commercial Day

Finish your packaging,

Read pages 221-225 

1. What is a brand extension? 
2. Using the internet find 2-3 good examples of brand extensions.
3. Find 2-3 bad examples of brand extensions. 

4. What is brand licensing?
5. Find 5 examples of licensed products. 

6. What is co-branding? 
7. Find 2 examples of co-branding and explain why they brand well together?

8. Give 3-5 examples of brand acquisitions.  The parent company, and what brand they acquired.

I'm sorry but I had to leave to pick up my son and take him to the doctor.  Please carry on with the packaging assignment.  We will be moving on tomorrow.

Good luck,