Watch Out Red Bull!
This past week, Mrs. Scheffer’s Marketing students worked in teams and created marketing plans to distribute original energy drinks. The marketing plans consisted of:
- The development of a product prototype
- The identification of a distinct target market
- The selection of a manufacturer
- A cost/profit analysis for each channel member
- A distribution strategy to maximize profits
Students presented their marketing plans to investor “sharks” who provided students with realistic feedback on the feasibility of their ideas, strategies, and profit margins.
Students were able to work collaboratively and creatively to design their prototypes and practiced their communication skills through a persuasive sales presentation. Students used Google docs to stay connected throughout the process and also collaborated outside of class using Facebook.
The “shark” investors were impressed with the plans and encouraged students to continue to work hard towards their future entrepreneurial goals.
Image credit: https://www.facebook.com/SharkTank