Creating a Product Solution and Selling Strategy for Dragon's Den Pitch

General Format Guidelines

The purpose of this assignment is to apply concepts addressed in Course Learning Outcomes in your course outline.  You will prepare a written submission of the selling philosophy.

The objective of this assignment is to come up with a potential product solution to meet the current needs of a target market and to present that product or service to the Dragon’s Den for possible funding.  The key will be to get the required investment needed from the Dragon’s in return for an equity interest in your company.  This product or service must be different from your individual assignment and must be new to the Edmonton or Alberta market.  It can either be something you came up with, or something that exists in other parts of the world but is not sold here.

Cover page must include your name and ID number, course and section number, assignment title and date

Submission should be approximately 2,000 words in length on double spaced pages, not including cover page, appendices, or attachments

Use both paragraph-form and point-form as deemed appropriate. Presentation does matter!

Show clear application of terminology and concepts.

I expect a quality of written communication appropriate to a first-year college course.  This includes clear writing (grammar, spelling, punctuation) and appropriate referencing of information sources (APA Style).  

Provide an introduction for your company and the product or service you intend to pitch to the Dragons. Later, explain how your product or service will add value to the target market.  Furthermore, determine what options make this product or service attractive to the target and why. How would you go about developing the product/service and ensure its quality?  What price and deliver options would you recommend?  Who would be your most immediate competition?  What are the key features and benefits of your offering? What other recommendations can you suggest for creating an effective product solution?

Describe how you would ensure the effective positioning of your product or service in the minds of your target market?  How can the sales team assist in this positioning?  How would you suggest the target market be made aware of this offering in the most cost-effective manner possible?  What other things can you do to improve potential sales?

Define the customer strategy you will use to add value to your product or service.  Who is your buyer and what process will you use to engage them?  What are the buyer’s behaviour and buying motives?  How will you develop and qualify potential prospects?

Determine the best presentation strategy to use that will add value to your product or service.  Define how you will use the six-step presentation plan to aid your sales.  How will you gain the buyer’s attention and arouse their interest to buy?  What consultative questioning strategy will you employ that incorporates the four-part need satisfaction model. How will your product or service match the specific needs identified in the questionnaire?  How will you negotiate concerns a buyer might have with your product or service?  What types of closes will you use to conclude the sales and confirm value delivery?  How will customer service be included in your offering and what benefits will it create for your product or service offering?

 Conclusion

Summarize your findings and determine the viability of your product/service based on your research with a 5-year sales and profitability projection

Format Writing and References

Research requirements met

Professionalism in look, style, and substance of report & use of appropriate terminology; objective and professional writing style (Use headings / subheadings to make reading and locating of major concepts easier. Demonstrate understanding of concepts through application of marketing terminology to the company / product you are analyzing.)

References use according to APA style (both in-text citations and end of text reference list)

References reflect a broad range of sources, which might include personal interviews, academic articles, textbooks, relevant and reliable websites, company documentation, published reports.

Use at least 3 references among which at least one academic reference.  

Your group will pitch its product or service using approximately 10 power points

You will have 5 minutes to present to the Dragons, with an additional 5 minutes for discussions

Your group will be asking for an investment amount in return for an equity position in your organization.  This asking amount and equity offering will be marked, so make it as realistic as possible.

Have your power point ready to go on a USB stick 10 minutes before the start of class on