BUS:Marketing a Breakfast Cereal (Mktg)

Summary

Students will explore marketing concepts while creating a cereal product, and pricing and promoting it.

Materials

1- "Four Ps" poster from U.S.O.E.
2- Empty Cereal Box
3- Crayons
4- Scissors
5- Colored markers or pencils
6- Colored paper
7- Calculators
8- Computers (optional)

Background for Teachers

Intended Learning Outcomes

1- Explain the marketing principles of product, pricing, promotion, and placement and how they are utilized in targeting consumers.
2- Categorize products in the area of goods, services or information.
3- Create a marketable product.

Instructional Procedures

Day #1: WHAT IS MARKETING AND THE FOUR P'S?
a. Discuss with students what marketing is, and what the Four Ps are. (See resources: The "Four Ps" poster -- use daily, Activity #1 -- Product Identification, Activity 2 -- The Four Ps Activity, and the overhead presentation, "What is Marketing?" An Overhead Presentation for TLC" -- Appendix A.) Please note: A color version of this presentation is available for download on the marketing education web page.
b. What is a consumer? A person who selects, purchases, uses, and disposes of goods and/or services.
c. How Do We Determine Which Products To Market? 1.Wants and Needs 2.Target Market 3.Field Research

Day #2: THE CEREAL BOX PROJECT
A major manufacturer of nutritious and delicious breakfast cereals has just hired you. Your first assignment is to work with a team that has been given the responsibility of developing a brand new cold breakfast cereal. You will come up with the product idea, packaging, brand name, cereal name, and price. Most products are aimed at specific consumers called target markets. Target Markets are specific consumers that have wants and needs in common and therefore would be looking for the same specific product. Three to six year old children and their buyers (their parents) would want a different cereal than serious athletes or retired individuals sixty to eighty years old. The product needs to meet the needs and wants of the target consumers. You will be creating this cereal for the folowing target market: TARGET MARKET for your cereal:

The target market is made up of young teenagers (both sexes) from 12-14. They are starting to become independent and want to be "grown" up." They look to teenagers as their role models, love popular music, sports, and video games. Their parents still make the ultimate decision about which breakfast cereal to buy. The parents want a nutritious cereal that will provide a good breakfast, but also one that their teenagers will eat.

As a team (generally 2 members):

1- Product Design: Determine the contents of your cereal.

2- Price your Product: Price for producer, for retailers, for consumers.

3- Promotion of your Product: Produce an attractive package or package idea for your cereal.

4- Sell your product to the stockholders (class).

Day #3 & 4: PROMOTION
Promotion is letting people know about products and services in a positive way so they will want to buy. Promotion tells us what is available. Promotion PERSUADES us to buy one product instead of another. Promotion REMINDS us of a product that we already know about. Promotion INFORMS us of new ways to use a product or about guarantees or special ingredients. PACKAGING is part of promotion. It can persuade, remind and inform us. Packaging sells the product in addition to protecting it. Your package and its design will help set apart your product from all other cereals on the store shelf. The package design must attract the consumer's eye and motivate him/her to purchase your cereal.

DAY #5: SELLING YOUR PRODUCT TO STOCKHOLDERS
You were employed by a major manufacturer of nutritious and delicious breakfast cereals to produce, price and package a new cold breakfast cereal for young teenagers.. Now you must present your idea to the stockholders (your class) to see if they will support the production of this cereal. You will be PROMOTING YOUR PRODUCT - presenting it in a positive way so the stockholders will buy your idea. They must believe that your target market will buy your product instead of the competitors. Your team will do a 1 or 2 minute presentation that will include:

Persuasive introduction: Opening statement or skit that says your cereal is a great product.

Description: Description of your new cereal including any special add-ons. Show your package or idea and point out the name of the company, cereal and any special features including any promotional ideas that are included (Power words, celebrity, games, discounts, etc.) Why your product meets the needs & wants of your target market: List any special features, newer, price, nutrition, etc. that will appeal to your target market.

Conclusion: A statement encouraging your stockholders (class) to develop this cereal product and your belief that it will do well against the competition.