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· Project outline (worth 5%): Hard copy due in class,
· Strategy project (worth 15%): Hard copy due. In class
· Assignments submitted after the due date will lose 10% for each day late up to 5 working days. Anything submitted after this time will receive a mark of zero.
· 4-5 members per group
· Grammar and spelling count
You will be creating a “new” product for Best Buy Canada. You can create an entirely new product, or make a significant improvement to one of Best Buy Canada’s current products. You can find all of Best Buy’s products at www.bestbuy.ca
To decide how to change the product, you might consider the current target market’s needs or you might consider changing the current target market and adjusting the product to fit the new target market’s needs. Remember, all good product ideas start by thinking about customer’s needs first.
Comments on writing your project
Your project will be about 6 to 8 pages long (no more than 8 pages – marks will be deducted for projects longer than 8 pages), lines spaced at 1.5, with 12-point font. Any section that contains poor grammar or spelling will have the mark downgraded due to weak communication skills. If your team does not have someone with strong English skills, make sure that you leave enough time to have someone review your project to help you fix these problems. You can get help with English through the peer tutoring service, offered through the Learning Commons.
If you find information from another source, be sure to use MLA citation. It is no problem to include information from another source, but you MUST give credit to the original author (through citation). See the library website for help with citation at
Project Outline (1-2 pages, lines spaced at 1.5, with 12-point font)
Product Identification: Short name of your product
(eg. “solar-powered cell phone”)
Target Market: Describe your Target Market
Product: Briefly describe your new product and why people will buy it compared to similar products already available.
Promotion: general description of how you will promote your product? e.g.
advertising: tv, radio, internet, billboards etc
sales promotion: coupons, free samples
personal selling: salesperson
Distribution/Place: besides Future Shop, where else would it be sold?
Price: what pricing strategy are you going to use? e.g. charge a price that is lower/same/ higher than competition, why?
A 1-page summary of your entire report. This is not an introduction – it contains all the important information in your report. Try to write 1-3 sentences about each of the following sections.
Describe your target market. Be sure to use marketing terms from the textbook. Remember there is more to a description than just demographics. Reference chapters 5 and 7. See Target Market Example on last page of this document.
Describe entire new product. Use marketing terms from the textbook where possible. Reference chapter 9 plus pages 165-169.
Describe how you will communicate your new product to the target market (and the distribution/channel members if appropriate). If you are going to use advertising, describe or sketch the first ad. Don’t forget about promoting to retailers (and wholesalers if you are using them) as part of your Channels strategy. Reference chapter 14.
Describe how you will get your product to your end customer (your distribution strategy). Consider additional retailers (examples?), wholesalers and your own sales staff. Reference chapter 12.
What will be your MSRP? What price will the retailers pay? What price will the wholesalers pay? Explain your logic when outlining your strategy. Reference chapters 18 & 19.
Positioning and Perceptual Map
Create a positioning statement which clearly identifies why potential customers should choose your product. Create a perceptual map, which shows how your product compares to its competitors on the 2 most important attributes. Reference chapter 7.
Overall Business-like presentation
Overall look, spelling, punctuation, grammar, effective use of bullet points, headings, bolded or underlined, short concise paragraphs and use of tables, graphs, table of contents, etc.
Projects that are submitted with 5 or more spelling errors on the first page will not be marked and will be returned and considered a late assignment until it’s re-submitted.
MLA Citations (part of overall business presentation and academic policy to use MLA standards)
Citations must be done in-text as well as a works cited page.
Source documents (including Web sites) must be cited as per MLA standards.
Submissions that do not follow the MLA style will be returned with a mark of zero.
Wikipedia, Scribid or Facebook will not be considered as a resource in this assignment.
In text and works cited
as per MLA style
In text and works cited
with a few minor errors
In text and works cited
Citations not done as per MLA style
Target market Considerations:
Family size & lifecycle
Use of Free Time
Attitudes & beliefs about food
Attitudes & beliefs about personal health
User status: first-time, regular etc