Round I- Formative Collaborative Project

 Create a cohesive market entry strategy plan for your innovative product.  What is a Market Entry Strategy?  a plan that guides a company through all aspects of the product-exporting process.  A completed plan should include a: Market entry strategy. Marketing advertisement. Eight minute PowerPoint presentation

 Market  Goals  Target Market  Product Distribution  Pricing  Marketing

Goals  The short-term goal for our market entry strategy is:  Fido, Inc., will: 1) export 1,000 dog collars over the next year to Canada at a product price of $20 (USD), and 2) sell all collars through Amy’s Dog Shop in Vancouver, Canada, by July  The long-term goal for our market entry strategy is:  Our JA Company, Fido, Inc., will sell 50,000 collars through pet stores in British Columbia, Canada, by  Hint: Your goal is to make money. Please use the goals above as a model for your company’s goals.

RequirementsHINTS!  Who is your target market? Why?  What is the average yearly income of someone in your target market?  How would you describe the ideal customer, or end user, in this market?  What other information may be important to know about your target market?  These are also known as demographics and might include  Geographic Location Region Urban/Rural  Age  Gender  Education  Income Level

RequirementsHints!  What is your product? Why did you choose this product?  What are some product positives that you want customers to see?  What are some (if any) potential product negatives?  Do you foresee any product competitors? How could you set your product apart?  Are there any product changes that need to be made for the target market?  Be very clear about the design of your product  Make your product unique  Develop a sample of your product to share with the class – this could be electronic

 What type(s) of transportation systems are available within the country (rail, highway, shipping lines)?  Which transportation systems will you use primarily? Why?  Once you transport the product to your market area, how will you distribute your product?  Hint! Will you sell it in a store? Mail order? Mall? Road side stand?

 Do you have any information about, or price comparisons with, potential product competitors?  What is your product price (in your home country’s currency)?  Are there other costs that may need to be factored into your pricing strategy?

Marketing:  How will you primarily market your product?  Are there secondary marketing strategies you also could use?  Marketing Advertisement Requirements  Must include some type of visual of the product.  Must be integrated in the PowerPoint presentation; other visual aids are allowed.

 Project Rubric  Collaboration – Peer Evaluation  Daily participation

Presentation Collaboration Market Entry Strategy Marketing Advertising The advertisement conveys a product prototype visual and description. Students analyzed and evaluated a target market. Market Entry Strategy The topics, ideas, concepts, knowledge, and opinions included in the presentation demonstrate mastery of the entry strategies faced when a product is launched internationally. Presentation The presentation includes text, graphics, PowerPoint slides, overheads and/or video to convey information to the audience. Collaboration Working together, students create a feasible market launch of a new product. A successful group strategy accomplishes superior results that could never be attained working alone. Rubric

 10/1 – Introduction to Project  10/2 – 4 th – Math Lab  10/3 – 5/7 – Math Lab  10/4 – All Math Lab  10/5 – All Math Lab  10/8 – All Math Lab  10/9 – 4 th Presentations  10/10 – 5/7 Presentations

 Remember you are selling your product  Be excited about it  Be creative  Include everything that is required  Use your time  Don’t be deadweight on your team… that sucks  Present professionally  Create an effective/professional PowerPoint

 South Korea  Hansik – Korean Cuisine  Typical Daily Meal  Steamed rice  Side dishes of seasoned veggies  Soup and/or Stew  Meat and/or Fish  Essential utensils  Spoons for rice/soup  Vessels to carry the food  CHOPSTICKS!