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Name: _ryan winston______________________ Chapter 1 – Group Project You are going to create a NEW company. The company should sell a product/service that you understand and be in an industry that you are familiar with. However, I do not want to discourage you from being creative. If you are hesitant if the company you want to create is acceptable please ask me. After getting the “ok” from Mr. Monroe, you are going to design a marketing strategy based on many of the concepts and strategies discussed in Chapter 1. The following is a list of each section of the project and minimum requirements: Part 1 – Basic Introduction Create your company, name, and mission statement. Include a description of the industry your company is in and what product or service company will be selling. Part 2 – Defining your Identify your customers’ needs, wants and demands. Product and Customer What type of needs is your company trying to satisfy? Needs, Wants and What will be your customers’ needs, wants and Demands. demands? Clearly identify and define how your market offerings will meet your customers’ needs, wants and demands. Remember that often companies are selling more than just a product or service, but an experience. Part 3 – Define Your What are your customers’ demographics? WHY? Think Customers AGE, INCOME, GENDER, EDUCATION, ETHNICITY, OCCUPATION. Using demographics provide a detailed explanation of your customers who are “butterflies”, “strangers”, “true friends”, and “Barnacles”. Part 4 – Defining your Create your value proposition and identify which of the Marketing Strategy marketing orientation strategies will best fit the product and/or service your company is selling. You are not confined to only using one strategy and most likely will choose to use a combination of different strategies to best serve your customers. Part 5 – Building We know that all marketers do not just want to satisfy Strong Relationships their customers, but create customer delight. Describe how your company will manage customer expectations and product performance to maximize customer satisfaction. Explain and identify how your company will reach out to customers to forge, manage and deepen customer relationships. POINTS – 10 POINTS – 20 POINTS – 20 POINTS – 20 POINTS – 20 Part 6 – Capturing the Summarize how your company created value for its Value customers. Finally, explain how you are going to capture the value your company created for your different segments of customers. Capturing value has to do with how much money you are going to sell your product for and why the consumer will pay that much. POINTS – 10 This is a group project and will count for 20% of your 1st marking period grade. Do a great job, be creative and have some fun with it! The format for this project will be a Pecha Kucha Hybrid – Please reference the Course Website for examples and an explanation.