Mini Presentations / 4 P’s / SWOT / Market Research Schedule Mini Presentations / 4 P’s / SWOT / Market Research 3:28 AM

1st Mini Presentations 3:28 AM

2nd 4 P’s “Putting the right product in the right place, at the right price, at the right time” 3:28 AM

4Ps - Purpose To effectively market a product These 4 elements are viewed as 1-single unit 3:28 AM

Perceived Value What I give In order to get How to be provided to customer? What problems will it fix? Where and When? Benefits & Features Online / Supermarket / Call order? Potential buyers Perceived Value How to Communicate? What I give In order to get Technique? 3:28 AM

Think of your own product What are the 4 P’s for that product? Brainstorm with your team Share the information with another team in about 5 minutes What information do you need from your consumers? Make 5 questions. 3:28 AM

STOP 3:28 AM

3rd SWOT Page 1 3:28 AM

Making a SWOT analysis 3:28 AM

S - Strengths W - Weaknesses O - Opportunities T - Threats SWOT stands for: S - Strengths W - Weaknesses O - Opportunities T - Threats It is a tool that business use to analysis: Preexisting products New products Business 3:28 AM

S- Strengths W- Weaknesses O- Opportunities T- Threats (NOTES) SWOT Stands For: Characteristics of the idea that gives it a benefit over others. Characteristics of the idea that gives it a disadvantage over others. Chances to improve profit/sales etc. Things that could cause problems for the idea. S- Strengths W- Weaknesses O- Opportunities T- Threats 3:28 AM

Think of the iPhone…In Groups…SWOT 3:28 AM

From Here, Which Do You Think Are Opportunities, Threats Strengths, Weaknesses, Opportunities, Threats Style. Intense competition from other phones. Can sell music with iTunes. High price. People may be more likely to use other apple products. Easy to use. 3:28 AM

iPhone SWOT Analysis Strengths Weaknesses Style / Brand Rich UI User Base Hype High price / High end Limited distribution channels Missing features Unsafe for corporate use? Migrate people to Apple Port existing apps New social device Distribute iTunes content Intense competition Highly developed market Opportunities Threats 3:28 AM

Practice Make a SWOT analysis for the following products… 3:28 AM

Ramen Square 3:28 AM

Insect Bakery 3:28 AM

Apple iWatch 3:28 AM

Step 2 (notes) Think of your product Create a SWOT analysis of it Present it to another group of students in 5 min 3:28 AM

Market Research - Survey 4th Market Research - Survey Page 3 3:28 AM

NOTES 3:28 AM

Why is it important? The Purpose of Market Research is to go from: Thinking about what you want TO Thinking about what the market wants or needs and demands 3:28 AM

How Do Your Do Market Research? Primary: First-Hand Information Surveys A general view of a market gained usually via questionnaire Interviews 1 on 1 Q & A’s with target consumers to gain opinions about a product or service Focus Groups A small group selected from a wider population and sampled for its members’ opinions about or emotional response to a particular product Trial and Sampling The introduction or promotion of a product by distributing trial packages of it 3:28 AM

3:28 AM

Chocolate Bar Activity Instructions: Working within your team presentation, develop a 6 question market research survey to research what would be the best type of chocolate bar to sell to Konkuk University students. Remember to ask questions that will help you design a new product that people in that age group will want to buy. Ask your teacher if you need help thinking of questions. !! This Is Practice !! 3:28 AM

Sample Questions What is your favorite type of chocolate? Rank your top 3 favorite ingredients (1 being the most favorite, 3 being the least favorite) Rank your top 3 favorite chocolate bars How often do you purchase chocolate bars? Where do you buy chocolate bars? __ Newsstands __ School __ Grocery store, Market __ Friends __ Supermarket __ Convenience Store How much are you willing to spend for a normal size chocolate bar? 3:28 AM

Survey The Class Ask students within the class the questions that you created Gather information in your team Tell me what sort of chocolate bar students in the class would like to have 3:28 AM

Presentation Information 5th Presentation Information Handout 3:28 AM

6th Homework… 3:28 AM