It is advised that teachers should assign the students to do a simple market research with the objective of finding out a product /service whose marketing may be profitable like
i. Toothpaste
ii. Noodles
iii. Shampoo
iv. Bathing soap
v. Washing detergent
vi. Washing powder
vii. Lipstick
viii. Moisturiser
ix. Shoe polish
x. Pen
xi. Shoes
xii. Hair dye
xiii. Mobile
xiv. Chocolate
xv. Sauces/ketchup
xvi. Ready soups
xvii. Body spray
xviii. Fairness cream
xix. Hair oil
xx. Roasted Snacks
xxi. Jeans
xxii. Pickles
xxiii. Squashes
xxiv. Jams
xxv. Salt
xxvi. Bread
xxvii. Butter
xxviii. Shaving cream
xxix. Razor
xxx. Cheese spreads
xxxi. e -Wash
xxxii. Tiffin wallah
Any more as suggested by the teacher.
The teacher must ensure that the identified product should not be items whose consumption /use is discouraged by the society and government like alcohol products/ pan masala and tobacco products, etc.
Identify one product/service from the above which the students may like to manufacture/provide [pre assumption].
Now the students are required to make a project on the identified product/ service keeping in mind the following.
1. Why have they selected this product/service?
2. Find out ‘5’ competitive brands that exist in the market.
3. What permission and licences would be required to make the product?
4. What are your competitors Unique Selling Proposition.[U.S.P.]?
5. Does your product have any range give details?
6. What is the name of your product?
7. Enlist its features.
8. Draw the ‘Label’ of your product.
9. Draw a logo for your product.
10. Draft a tag line.
11. What is the selling price of your competitor’s product?
(i) Selling price to consumer
(ii) Selling price to retailer
(iii) Selling price to wholesaler
What is the profit