For this unit’s Writing Assignment, you’ll watch this episode of Shark Tank, select your favorite product/pitch, and identify the different aspects of the product concept and why you think that product will be successful (you may want to do some additional research on whatever product you pitch).
Shark Tank is a critically acclaimed and multi-Emmy® Award-winning entrepreneurial-themed reality show that has reinvigorated entrepreneurship in America. The business-themed show that has become a culturally defining series and inspires a nation to dream bigger, recently amassed an amazing $100 million in deals offered in the Tank. The Sharks – tough, self-made, multimillionaire and billionaire tycoons – continue their search to invest in the best businesses and products that America has to offer.
The entrepreneurs who dare to enter the Tank must try to convince the Sharks to part with their own hard-earned cash and give them the funding they desperately need to turn their dreams into million-dollar realities. All of the good, bad, emotional and even absurd pitches help showcase the “I wish I had thought of that” business ideas and products. But the Sharks have a goal too: to get a return on their investment and own a piece of the next big business idea. When the Sharks hear an idea worth sinking their teeth into, they’re more than ready to declare war and fight each other for a piece of it.
To complete this assignment, you must watch Season 14, Episode 5 of Shark Tank, available for free on ABC.com and linked here.
In a 1-2 page paper in your own words, describe the pitch that resonated most with you in this episode (there are four to choose from) and explain why. Then, explain the product concept as presented to the ‘sharks.’ What gap does this product fill? What process does this product make easier? Why should consumers not only want this product, but feel that they NEED it? Based on what you learned in this unit’s textbook chapter, explain how this product could be best positioned (branding, packaging, etc.) to appeal to consumers.
In order to receive full credit for this assignment, please respond to all questions in this prompt.
Here are the steps students should take to complete and submit this assignment:
- Follow this guide to create a new post, and add in your assignment so that classmates can view and comment on your submission.
- Select “Product Concepts” as the Category. All submissions will populate under the Student Work menu item (Student Work > Product Concepts).
As always, if you need more information, you can ask me a question. For information on due dates, check our Course Schedule.
