Raw Pure Energy Drinks marketing research
Description
My topic is Raw Pure Energy Drinks marketing research. The idea of my product is to make an energy drink based on natural products rather than synthetic and harmful components to your body. ** it might change the negative idea of people that think those drinks are bad for you
Professor instructions- For lab #3, students will work in groups of 3. Each lab group will come up with their OWN fictional product using the same guidelines as lab #2. This means that it must be in the realm of science fiction, and be possible with one key scientific breakthrough or discovery. Each group must also establish one key flaw for their product that keeps it from having 100% consumer confidence.
The groups will use the scientific method to come up with a way to test market feasibility for their product, using roughly the same method as lab #2, including a survey to give to prospective consumers. The survey must be presented to the instructor for approval before students are given permission to begin collecting data. The groups will ensure that they collect a minimum of 30 responses to their survey. Any less than 30 responses will result in a loss of points for both the lab report AND presentation for the entire group.
The students will write a group lab report in similar fashion as lab #2, but for their own product. The report must have clear sections for each of the following: Introduction, Hypothesis, Experiment, Results, Conclusion, Technology and Discussion.
The introduction must describe the product in detail including any key flaws; and then there must be a discussion of what general questions the experiment was attempting to answer, and how the specific demographics were determined.
A testable and quantifiable hypothesis for the study must be written in the proper style. The information presented in the introduction should lead the audience to the hypothesis statement.
The experimental design must be written in sufficient detail for the instructor to understand exactly how the experiment was carried out. Someone reading the experiment section should be able to duplicate the exact same experiment if they wanted to. This means that the general wording of each question must be described, along with the reasons for asking that question (Ask yourself: what data are you trying to obtain with this question?). With the information gathered during the experiment, results must be thoroughly displayed and communicated, preferably with tables or graphs and a small amount of text. Be careful not to form conclusions or interpretations of the data in this section. Instead, save that for your conclusion section.
A clear conclusion must be determined based on the data gathered and how it relates to the hypothesis. It is a good idea to restate the hypothesis and explain how your data either supports the hypothesis, disproves the hypothesis, or falls somewhere in between.
The technology section requires a technical explanation of how the new product works including the relationship to any existing technology. Essentially, it should be clear that this is a product of science fiction, and not pure fantasy.
The discussion section should address either one of the following questions in great detail:
- What would you change about your product in order to make it more appealing to the public?
- How would you change the questions in your consumer survey in order to get better feedback on your product?
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