Marketing+&+Design+Questions

We debated on making a bike seat that was fully functional yet comfortable. It would be soft and relieve pain normally felt while riding bikes. We also thought of a nail machine that would cut and paint your nails perfectly each time you place your hands under the machine sensors. Lastly, we came up with the idea to be able to mute parents or teachers with a simple handheld device.
 * 1. ****Detail three items you debated on producing before selecting your produced item. **

Yes, our produce does have a high demand in an age of abundance. It could be a very valuable product for each home, especially in homes in which parents are very busy. It would not only be quick and easy, but buying our product it would also be much cheaper than buying all the groceries and ingredients that people usually buy.
 * 2. ****Does your product have demand in an age of abundance? **

The competition for our product would be fast food restaurants and people that have the desire to cook, bake, and spend time with each other while doing it. We will win the market by advertising the advantages of our product. We will make it appealing to every type of person, so every family will want one.
 * 3. ****What is your competition for your product? How will you win the market for your product? **

It would be a big mistake if our product fails. This is because, in making this product we will have used many materials, time, and lots of money to do so. We will also spend a huge amount of money to advertise our product and get it out in the market place for our customers.
 * 4. ****Explain how, if your project fails, it is a “big mistake.” **

We will design our product with a catchy logo and different pictures of results of the product on each box to grab each customer’s attention and appeal to each customer tastes. We will also place a story on the back of each bag describing how this product can literally change lives, especially in the kitchen. With this design we will be sure to get a lot of business.
 * 5. ****How will you design your packaging? How will story play a part in the advertisement of your product? **

It looks similar to your everyday microwave…but it’s so much more… (See poster for prototype)
 * <span style="font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">6. ****<span style="font-family: 'Times New Roman','serif';">Create a prototype of your product (it can be a descriptive graphic). **

<span style="font-family: 'Times New Roman','serif';">Our product will be produced in an assembly line by KitchenAid. KitchenAid makes microwaves as one of their main products, which are similar to our product, therefore they have the materials, knowledge, and experience to make our product exceptional for our consumers.
 * <span style="font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">7. ****<span style="font-family: 'Times New Roman','serif';">How will you produce your product? **

<span style="font-family: 'Times New Roman','serif';">We will advertise using infomercials and commercials on television. We will also set up several billboards on major highways throughout populated areas. Our product is marketed towards any type of person, but particularly towards busy families. Not everyone has the time to make a home cooked meal every night and this product is especially for those people. It also appeals to people who want to save money on groceries and other ingredients because in our product all the works are right inside.
 * <span style="font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">8. ****<span style="font-family: 'Times New Roman','serif';">How will you advertise? Who are you marketing your product for? Why? **

<span style="font-family: 'Times New Roman','serif';">We will approach stores such as: Sears, Target, Walmart, Home Depot, Lowes, Bed Bath & Beyond, etc. We will approach these stores because many families shop here. Also we will sell there because they sell a lot of home appliances.
 * <span style="font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">9. ****<span style="font-family: 'Times New Roman','serif';">What stores will you approach with your product? **

<span style="font-family: 'Times New Roman','serif';">Our product will cost approximately $60 to make per parcel. Shipping will cost an additional $20 to $30. We will sell our product for $149.99, plus shipping and handling fees. With this price, our profit margin is about $90 per product sold.
 * <span style="font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman'; msofareastfontfamily: 'Times New Roman'; msolist: Ignore;">10. ****<span style="font-family: 'Times New Roman','serif';">How much will your product cost to make per parcel? This includes cost of materials, production, and shipping. For how much will you sell your product? What will the price be? What is your profit margin per item? **

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