MKT 201- The Sales Project

It is tradition for all Consumer Behavior students to participate in a group assignment unofficially known as the 'Sales Project'. The goal is simple. Raise as much money as you can, as close to the target amount as possible and manage your cost. Here are a few tips to ensure your success:

1) Choose the right members for your group.

• Never skip the first 5 classes. You will lag behind your classmates and get stuck with less efficient group mates.
• Lazy and complacent class skippers are not good choices even if they're your best friends.
• Try to get members who are active, supportive and initiative.
• Try to get at least 1-2 members who are fluent in English. 

2) Product

• Be creative but don't over do it. Ideas come easily but focus on the feasible ones. 
• Make sure you can purchase and have access to all the ingredients/items easily.
• Think like the consumer. What would you buy from a student stall? What are your needs? Do the items they offer satisfy your needs and expectations?
• Examples of past students projects: selling mocktails, ice blended drinks, books, fingerfood snacks, can drinks, tid bits, clothes, beauty products, computer peripherals, car wash, customized t-shirts

3) Pricing

• Your sales item should be priced reasonably. Would you pay RM2 for a stick of nuggets? While it may seem as if it would generate more profit, you will not be able to sell your product in bulk. This defeats the purpose. 
• Always price items above your profit margin.

4) Place

• Location is an important strategy. You don't want to be dumped in some area in HELP with few passerbys, do you? Book early. You'll be competing with your classmates and other companies who want to do their campus tour events. Once you've settled the proposal and the dates for your sales, run to DSA Main Block to book your location with the administrator.

5) Promotion

• Get active! Don't be shy. Draw attention to your stall. Engage all potential customers. Don't plead for charity. Arouse their needs. "Are you hungry? Would you like to buy a drink from us?"
• Don't be afraid to offer discounts. Discounts work very well in all sorts of ways. There's buy one free one, buy one 50% off the next buy, etc. You can even bargain with your potential customer just to make the sale (but only sell at the price above the profit margin.. you don't want to make any losses)

6) Management

• Make sure everyone pulls equal weight throughout the whole assignment. 
• Start the project early. By early, I mean 3rd week (for short sem) and 5th week (for long sem). 
• Delegate and start report writing at least 2-3 weeks before the due date. (The pressure to increase your sales to reach the target mark will wear all of you out)

6) Report Writing

• Make sure you have made a basic balance sheet for your entire project. You will need to include detailed information on your profits, revenue and expenditure.
• Follow up with your lecturer regarding your progress (optional)

Good Luck!