There is no better way to learn about running a business than by actually running one. DeKalb New Tech students in Consumer Communications are doing just that. The assignment? Develop and create a unique DeKalb New Tech product to market to the students and community. However, the students aren't just developing and creating any product. They are conducting market research, analyzing profit margins and locating suppliers.
An anonymous donor gave $500 to the class, and wants the students to make that grow. Students have to analyze how much their product will cost to make, how much they will sell it for, and how likely it is to be a popular item. For an even greater challenge, the students will simultaneously be developing a promotional product that is to be given away for free to community partners. The profits made from the original New Tech product must pay for the promotional product as well as make a profit for DeKalb New Tech.
Students will write business plans and present them to a panel of business professionals to decide which products to produce and sell. Our thanks to the donors and panelists for the opportunity to provide students with a strong sense of what it means to develop, create, and market a product.