PowerPoint Instructions Step1:Product Idea Brainstorming Identify 2-3 ideas for a new product or service. For each of the product ideas, identify the following: The value the product or service creates for the customer. How you came up with this idea. For each product/service idea, create 1 PowerPoint slide that addresses the above points.

Step 2: Product Selection Select 1 product / service idea from the list you created in the previous step of this Project Assignment. This is the product/service idea that you will use for the remainder of this Project Assignment. The product/service that you select should be the one that you feel is the best from the list. (How you determine which is best is up to you). For the product/service that you selected, address the following topics: How / where the customer would purchase the product or service. An approximate price you would charge for the product or service. List any competing products/services that are already on the market. For each topic above, create 1 PowerPoint slide. Add the PowerPoint slide to the one you created in the previous step.

Step 3: Customer Identification For your product/service, address the following topics related to your potential customers: Demographics: Age range of you potential customers (and why you chose this range). Location: Geographic location of your potential customers (and why you chose this location). Income range of your potential customers (and why you chose this range). Educational & Professional Characteristics of your potential customers (and why chosen) Other defining characteristics of your potential customers describing why they would derive value from your product/service (and why you chose these characteristics) For each topic above, create 1 PowerPoint slide. Add the PowerPoint slides to the ones you created in the previous steps.

Step 4: Pricing Strategy For your product/service, address the following topics related to the price of your product/service. How much will the product/service cost? If there are multiple price points for different versions of the product/service, describe this is detail. How does this price compare to similar products/services that are currently on the market? Show examples. What will your product/service cost to produce? Show the details of how you determined this number. Based on the price and cost to produce, how much profit will you make from each sale? *NOTE: If your idea is retail in nature (such as a coffee shop or clothing boutique) prices of the products sold will vary, as will the cost you pay to stock the products. In this case, use average prices and average costs to determine profit. For each topic above, create 1 PowerPoint slide. For each topic above, create 1 PowerPoint slide. Add the PowerPoint slides to the ones you created in the previous steps.

Step 5: HR Plan For your product/service, address the following topics: What types of employees will you need to hire to produce and deliver your product/service? For each job type, explain why you will need that type of employee. Examples include: manufacturing, salespeople, engineers, designers, etc. How many of each employee will you need to hire? What is the approximate annual compensation of each employee? You may use online resources such as www.payscale.com to look up average annual salaries for different job functions. Based on the number and types of employees you will need, and their estimated annual salary, what is the total annual employee expense you will incur? For each topic above, create 1 PowerPoint slide. For each topic above, create 1 PowerPoint slide. Add the PowerPoint slides to the ones you created in the previous steps.

Step 6: Marketing Strategy For your product/service, address the following topics: Summarize your marketing message to potential customers in 2-3 sentences. What marketing channels will you use to reach your customers? Why are the marketing channels you chose good choices for your target customers? What marketing channels do similar/competing products/service use to reach their target customers? Provide examples. How much money, per month, do you expect to spend on marketing your product/service? For each topic above, create 1 PowerPoint slide. For each topic above, create 1 PowerPoint slide. Add the PowerPoint slides to the ones you created in the previous steps.

Step 7: Financial Plan Build a monthly financial plan for your product/service for 24 months. This plan should include monthly estimates for revenues and expenses. For your revenue, you will need to estimate the number of customers you will have purchasing your product/service each month. For your expenses, you will need to determine the different types of expenses you will incur. In previous assignments, you have already estimated your production, personnel, and marketing expenses. What other types of expenses do you expect to have? (Each team may have different expenses for example, a product that is ordered online and shipped to customers will have shipping expenses, while a service that is provided in customers homes will have fuel expenses for employee travel). Create a spreadsheet that shows the revenue and expenses for 24 months, and also calculates the profit (revenue minus expenses) for each month. Create a graph that shows the total revenue, expenses, and profit for each month. Create a PowerPoint that shows the following: The number of customers you expect to have each month, and how you calculated this number. The types of expenses you expect to have each month, the amount of these expenses, and how you calculated each number. The amount of profit you expect to realize each month. Show the graph that you created.