FND109 Introduction to Marketing

FND109 Introduction to Marketing

Module 2 – Individual Assessment

Due date: Friday - Week 6

Weighting: 25%

Instructions:

Students will complete this assessment individually.

You have been employed by GOAT Productions Pty Ltd as part of their Marketing Department. GOAT Productions have identified several needs/wants that have not yet been satisfied.  It is YOUR JOB to create a product that will fill the gap in the marketplace.

Important Facts:

· Your task is to create a new (tangible!)  product to sell in Australia. (NO services/apps!)

· Production cost of no more than $30AUD per item.

Look at the list below and choose one need/want that you will satisfy with a product created entirely by YOU!

Create a product that….

Your new product idea should also be something that can be produced in large scale, so it needs to be cost efficient.

This Individual Assessment will form the possible basis for your Partnered Assessment (Module 3) late in the trimester. This Individual Assessment will require you to analyse yourself first, the potential product, and the proposed target market. This will include segmenting, targeting, and positioning your chosen target market.

The Module 3 Partnered Assessment will require students to form into partnerships (or small groups). Each group will then select one members Individual Assessment product, to form the basis of the Module 3 Assessment.  The product itself will form the basis of a marketing pitch / promotion, that will be pre-recorded and presentation in week 12.

More information will come in week 7 for Module 3.

How to complete the Individual Assessment:

Step 1:

1. Do a brief self-analysis.

Step 2:

2. Decide on a product idea,

3. Set a S.M.A.R.T. Goal

Step 3:

4. Segment your target market,

5. Outline your target market strategy,

6. Create a clear positioning statement.

You must work on your own to complete the 3 steps of this assessment. Once you have completed all tasks / requirements, you will then need to save your assessment in Word Document format. Once saved, submit / upload it to the Assessment Tile link – Module 2 Individual Assessment [25%]

Step 1: Know yourself - Goal Setting (5%)

1. Write your name and student details here:

2. What are you good (and not so good) at doing? (Strengths & Weaknesses) List here your major strengths (e.g., You are creative, well organised and a good communicator), and weaknesses (e.g., You sometimes struggle with time management, or lose focus / motivation).

3. What grade do you willing to work for (not want) in this assessment?

4. How will you achieve this goal / grade? List some steps/ideas that you can follow to be successful.

Step 2: Product Idea & S.M.A.R.T. Goal (10%)

1. Brainstorm your ideas here. List at least 3 possible merchandise ideas you considered.

2. Which product idea are you choosing to do? Do you have a brand name in mind?

3. Describe how your new merchandise product satisfies the target market needs/wants? Why would the target market want it? (50-100 words)

4. Create one (1) S.M.A.R.T. Goal for your New product. (use the supporting documents in the resource tile to assist you with creating a S.M.A.R.T. Goal)

Step 3: Segmenting, Targeting, and Positioning (10%)

1. Using the segmentation theory, describe the target market you feel is suitable for your merchandise idea. Link as much as you can to the theory learned in class.

2. Which marketing (targeting) strategy will you use?  Why? How will this strategy help market your product? (50- 100 words)

3. Create a positioning statement your product.  How do you want your target market to view your product?  (use the supporting Positioning statement document in the resources tile to assist you here)