Hover Shoes INC… (An exercise in Primary and Secondary
Research)
Introduction: In Science class, you were given an
assignment where you had to use science to improve an existing product. You had trouble coming up with an idea at
first and then it hit you; like a bolt of lightning, HOVER SHOES!! You felt so good after inventing your Hover
Shoes that you decided to buy a lottery ticket and low and behold, you won
$500,000!!!
After asking around, you know
that there will be high demand for your hover shoes amongst teenagers so you
decide to go into business. You know
that you can sell the shoes at a reasonable price and still make a profit. But how do you get the word out? Advertise!!
One
of the most important and most expensive mediums used to attract consumers is
television. Before using this medium, the marketer must be sure that it will
reach the largest number of consumers for the least amount of cost. Not only
must the marketer know what market this media reaches, but he or she must know
when, and what station or network will attract the largest target market.
Primary Data
Part 1: Make a
list of your 5 favourite TV shows (if possible) include what days and times
that they are on:
Part 2: Use the
sheet provided and ask 10 other teenagers what their 5 favourite TV shows
are.
Secondary Data
Part 3: Go to the
following link to view secondary data on how much it costs to advertise on TV
(link is on the classroom website) (also use the cost sheet provided)
Next, go to the following link showing the top TV rating for
last week.
Part
4: Now that you have both primary and secondary market data, it is time to
make some decisions. You need to write a
summary saying how much of your $500,000 you will spend making your commercial,
what network(s) you will advertise on, and when you will advertise. You MUST use your data to justify (in
writing) why you made the decision you did.
Cost Chart for TV Advertising
Cost to produce the Commercial
Very low budget: $1000, make a commercial with your
friend in a single afternoon
Low Budget: $5000,
making the commercial yourself with some decent editing and music and two ‘cheap’
actors.
Medium Expense: $15,000,
you write the script yourself and hire a marketing company to make a cheap but
‘good’ commercial with some good strategies
Expensive: $50,000
hire a company to make you a commercial with some good special effects and
cutting edge marketing strategies and computer generation.
Very
Expensive: $100,000 Fully computer generated with custom music
jingle, slogan, and a logo
Extremely Expensive: $250,000 the same as ‘Very Expensive’
but you also get a celebrity in your commercial for 10 of your 30 seconds.
Cost to Advertise on TV
|
TV NETWORK
|
Morning
6-11:59 am
|
Day time
12-5:00 pm
|
Evening
5 – 8:00 pm
|
Primetime
8 – 11:00pm
|
Late Night
12- 6:00 am
|
|
Major Networks
ABC/FOX etc
Speciatly Channels
Discovery, History Teletoon, Etc
Local channels,
Weather
Network, TV listings channels, Shopping network etc.
|
$50,000
$10,000
$2000
|
$100,000
$15,000
$2500
|
$150,000
$20,000
$4000
|
$250,000
$30,000
$5000
|
$25,000
$7500
$1000
|
