Marketing+Questions

__1.) Detail three items you debated on producing before selecting your produced item.__ Our group had three ideas for a product: singing knife, a laugh box, or a vibrating/heated backpack. The singing knife would be used to keep you entertained in the kitchen while you chop things up, the laugh box would be used to help with self-esteem and make you feel funny, and the vibrating/heating backpack would help you carry your things and get a soothing massage at the same time. Our group chose to do the vibrating/heated backpack.

__2.) Does your product have demand in an age of abundance?__ Our product would have a demand in an age of abundance because of its uniqueness and creativeness. People will be pleased to have warm not aching back on a cold winter's day. Many students who are in school will definitely want to buy this.

__3.) What is your competition for your product? How will you win the market for your product?__ The competition for our producer will be any backpack-selling company (Swiss, Jansport, & Vera Bradley). Also there is a type of therapy backpack that has similar qualities to our backpack. We will win the market because our product has the additional features of heating and vibration, while still having the ability to hold books and other things.

__4.) Explain how, if your project fails, it is a “big mistake.”__ If our project fails, it is a "big mistake" we will have already spent a lot of time and money to make the product successful.

__5.) How will you design your packaging? How will story play a part in the advertisement of your product?__ Packaging will not be an issue with the product because backpacks are sold without the need for a package. Story will play a part in the product because it will reflect on a young boy's cold journey home from school and how he convinces all of his friends to buy one too!

__6.) Create a prototype of your product (it can be a descriptive graphic).__

__7.) How will you produce your product?__ We will produce our product by using a regular backpack and putting a heated blanket and vibrators inside to make it perform the required actions.

__8.) How will you advertise? Who are you marketing your product for? Why?__ We will advertise with a brief yet humorous commercial on our backpacks. We are marketing our product for anyone who is in need of the use for a device to hold books that also wants additional comfort. We designed this product because we ourselves have had cold, uncomfortable walks to the bus stop, and would like to change this for everyone. I mean after-all every kid deserves to be comfortable.

__9.) What stores will you approach with your product?__ We will approach typical, everyday convenient stores such as Wal-Mart, K-Mart, and Target. Hopefully they will sell our product because it rivals all other backpacks and has never been seen before.

__10.) 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?__ Our product will cost around $25 for materials, production, and shipping. We will sell our product for $40.00, a reasonable price compared to backpacks that sell for $100.00 without the added luxuries. We will make around $15.00 per item sold.