Market Product Analysis Activity

Study Notes

Students will work in teams of 3-5 to analyze two different products from the same market.
Each team will answer questions about the products, including the company, unique features, packaging, potential customers, pricing, and branding.
Teams will then present their findings to the larger group and discuss their ideas about developing new products.
This activity aims to help students get a better understanding of products and markets.

Cost: The amount of money needed to do something
Design-Thinking: An approach used by entrepreneurs to develop products and services, where they consider solutions to problems and match what they can make with what their customers need.
Elevator Pitch: A brief and persuasive speech, typically used to introduce oneself or a product to potential investors or stakeholders.
Entrepreneurship: The process of building a solution to a problem and taking the necessary steps to make it a reality.
Entrepreneurs: Individuals who spot opportunities, develop visions for new products or businesses, and gather the resources to bring their ideas to life.
Growth Mindset: This mindset believes that the brain is capable of learning anything and achieving any goal.
Investors: People who invest money in a new business in exchange for partial ownership. Investors make money if the business is successful.
Iteration: The process of creating and revising prototypes. Entrepreneurs learn from each iteration to improve their designs.
Markets: Places where buyers and sellers meet to trade products, such as physical stores or online marketplaces. Businesses within specific markets compete with each other.
Pitch: A short, persuasive speech, formal or informal, aimed at potential investors or other stakeholders.
Profit: The money earned from a business, exceeding the expenses of running it.