20 May Need By 8pm Wed 1.2 Discussion Week One
Week #1 Discussion – Professional Selling
Discussion are carefully graded on your ability to satisfactorily complete all required elements. They are not only graded on completion but the accuracy of the information presented.
Objectives
To identify the components of Professional Selling to the Entertainment Business
To choose a product that demonstrates “uniqueness” to the artist/film/sports figure, etc. and will increase revenue for merchandising operations
To identify the logistics of producing and selling an artist related product
Deliverables
Initial Post – 1st post due Wednesday by midnight Eastern Standard Time
Reply Post – 2nd Post due Sunday by midnight Eastern Standard Time
Instructions: Initial Post
An artist earns a percentage of their income through merchandise sales. Obviously, the more merchandise they sell, the more money they make. For this assignment, you may assume that you are the Sales Manager for your selected artist’s Fan Club or operate the store front for your artist’s merchandise such as AKT merchandising.
Choose a/an national/international recording artist, actor, youtube sensation or sports star. Go to the artist’s current online media (Facebook, Twitter, Official Website, etc.) and discuss the following:
- Evaluate the artist’s current product offerings – Tell us what they are currently selling. Do not choose an artist that does not have products for sale.
- Recommend a new and unique product for this artist to sell that is clearly tied to their brand and would be forecasted to have strong sales based on their primary and secondary target markets.
- Must be a new product not currently sold by the artist
- Must be an actual product that could be mailed – not an endorsement of an existing product and not a digital product
- Must be a product that meets all the requirements for this assignment
- Research and state the Primary Target Market and the Secondary Target Market – Target market should include demographics and psychographics.
- This is a signature product so the product will have a name. Name the product
- Research the cost of producing the product and suggest a retail selling price per unit indicating your expected “profit margin”. The profit margin is the difference between the “cost” of the product and the sales price. You should list both your production cost per unit and the retail selling price per unit. Then list the profit margin.
- Research the cost of shipping the product and suggest a shipping price. Shipping costs involve the cost of postage, packaging and the cost of “handling”. This may include the cost of storing the product, labor costs to “pull” the product, package the product, print a label and post the product. Also, you need to consider the cost of packaging materials such as bags, boxes, bubble wrap, ink, labels, etc. There is also typically a “mark up” on the actual shipping cost when mailed from the artist’s Fan club. There is no “free shipping” for this assignment. This product is being sold and shipped by the Fan Club.
- References are needed for target market research, product research (website, facebook, etc.) and cost of shipping (USPS, Fed Ex, etc.)
Instructions: Follow-Up Post
Follow up Posts are specific and require outside research to evaluate.
Evaluate and post your comments on at least one other student’s product. Do not choose a student who has not met the requirements below.
1. Why or why not would the product proposed have successful sales based on the “uniqueness” of the product and the desirability to the target market?
2. Do you think the name is effective? Why will it capture your attention and appeal to the target market?
3. Does the sales price stated seem potentially marketable and will it ensure a reasonable “profit margin”.
4. Does the shipping price seem reasonable based on your research? Should they charge more or less to cover all the postage and handling costs + a reasonable “profit”?
Reply post must address all the questions presented, if applicable, and must be made on a separate day than your initial post. Reply posts should be meaningful, constructive, and add to your peers’ insights.
As a guide for high quality response posts, use the RISE model, which encourages the steps as outlined in the rubric.
REFERENCES
Anytime an outside source is used, please include source information (link for website; author, title, date for non-website).
The RISE Model:
- Reflect: To recall, ponder, and communicate
- Inquire: To seek information and/or provide ideas through questioning
- Suggest: To introduce ideas for improvement of current iteration
- Elevate: To raise to a higher degree or purpose of future iterations
For more information about the RISE Model of meaningful feedback, visit risemodel.com.
NOTES
Your initial post must adequately answer the above questions.
For meaningful conversation to occur in this discussion, initial posts must be made on time and each student must make at least one follow-up post.
- The first post is worth 70% of the discussion board grade. The second post is worth 30% of the discussion board grade.
- If an initial post is not made by Wednesday at 11:59 p.m. EST but is posted before Sunday at 11:59pm EST, there will be 20% taken off (plus any other deductions) for the discussion grade.
- If an initial post is not made at all, there will be 70% taken off (plus other deductions) for the discussion grade.
- If a second post is not made between Thursday and Sunday at 11:59 p.m. EST, there will be 30% taken off (plus any other deductions) for the discussion grade.
Please do not post initial and response posts on the same day. No posts will be accepted after the discussion board closes.
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