The finished project should be a minimum of 5 pages of content, plus your title page and works cited page. Along with this paper, you will need to create a PowerPoint presentation of around 10 slides with audio narration OR you may film a video presentation of no more than 5 minutes that will explain the Product or Service Analysis to the class. 150 of the 400 possible points are for your presentation, and the remaining 250 points are for the content of your paper. I do not require AP or MLA style, but it must be readable and include citations. I do verify original work on this assignment through Turn-It-In.DO NOT copy and paste your paper into a PowerPoint. I expect bullet points, key phrases, visual aids (photos or graphic). Please keep the presentation to around 5 minutes in length.To Start:
You may select any existing branded product or service.
Examples: Ford Trucks, M&Ms, iPhone, Stanley Steemer, Tag Watches, Band Aid, McDonald’s, Holiday Inn Express, etc… Please use recognizable products or services unless you’ve cleared it with the instructor first.
Then, you may use this template to for this project but keep in mind: not every question may be applicable to your product or service, but this is a good start to ensure you analyze the product or service completely.
Product or Service name:
Describe the 4P’s of this product or service:
Product (or Service).
Place descriiption.
Pricing descriiption.
Promotion(s) descriiption.
Product/Service
Be sure to answer these questions in the analysis:
What does the customer want from this product or service? What needs does it satisfy?
What features does it have to meet these needs?
Are there any features you’ve missed out?
Are there costly features that the customer doesn’t need or use?
How and where will the customer use the product or service?
What does it look like? How do customers experience it?
What size(s), color(s), and so on, is it available as/in?
How is it branded?
How is it differentiated versus competitors?
Place
Be sure to answer these questions in the analysis:
Where do buyers look for the product or service?
If they look in a store, what kind? A specialist boutique or in a supermarket, big box store or multiple? Or online? Or direct, via a catalog?
What are the distribution channels?
Do the product use a sales force? Do they attend trade fairs? Do they make online submissions? Do they send samples to catalog companies?
What do competitors do, and how can you learn from that and/or differentiate?
Price
Be sure to answer these questions in the analysis:
What is the value of the product or service to the buyer?
Are there established price norms for products or services?
Is the target customer price sensitive? Will a small decrease in price gain you extra sales or market share? Or will a small increase be indiscernible, and so gain you extra profit margin?
What discounts are offered to trade customers, or to other specific segments of the market?
How does the price compare with competitors?
Promotion
Be sure to answer these questions in the analysis:
Where and when does the product or service get across the marketing messages to the target market?
Do they reach a target audience by advertising online, in the press, or on TV, or radio, or on billboards? By using direct mail marketing? Through public relations? On the Internet?
When is the best time to promote? Is there seasonality in the market? Are there any wider environmental issues that suggest or dictate the timing of your market launch, or the timing of subsequent promotions?
How do competitors complete their promotions? And how does that influence the choice of promotional activity?
Other/Visual
Logos, Slogans, Commercial links, Visual Aids (photos of billboards, print ads, etc…)
