When you launch a new product or service, whether as an existing firm or as a completely new business you will have to SELL YOUR IDEA to someone.
You will have to convince them that your idea will attract new customers.
As the final activity of this year's Challenge of Management we will be asking you to:
Think of a number of ideas for products and/or services.
Hone this list down to your favourite idea by discussion what is good about each one.
Develop some marketing materials suitable for display on a stand or stall at a "Trade Fair".
Set up an eye-catching stand to show off your new, and hopefully innovative, idea.
Man the stand during the Trade Fair, convincing customers of the merits of your idea so as to generate lots of "orders" for the potential "buyers".
Send some of your team around the other stands to act as buyers of their ideas.
Some things to think about
You will need a memorable, eye catching company name, logo etc.
Packaging, often referred to as the "silent salesman" is very important.
Pricing - can you offer special terms to attract the buyers?.
Foreign language - we live in a multinational, multicultural world. Can you make use of this opportunity
Displaying your product - can you differentiate your product from those on stands around you. Why should the buyer choose your idea over those of others?
Displaying product information - make it BIG and CLEAR!
Displaying yourselves - remember that YOU are part of the promotion.
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