Project Homework
Overview
For your fourth project, you will be given a scenario for which you need to develop a 1 to 2 pages press release. You will use interactive templates in the web text to complete this project.
Scenario
Your presentation to stakeholders was wildly successful and the company has determined that it is in their best interest to move forward with the diversification strategy you recommended. Since you did so well with the presentation, you have been asked by company leadership to prepare a draft of the press release that will announce this new strategy. Your press release is meant for an external audience that was not represented at the all-stakeholder meeting: a group that includes customers, vendors, suppliers, and the general community.
Goals
Here are your main goals for this project:
o Identify the viewpoints of an external audience.
o Write a press release that sparks interest in your new product.
You'll use interactive templates to write a press release for Project Four.
o Pitch Your Product
Since the press release will be seen by customers and the general public, start by letting your external audience know what need your new product will fill for them. Put yourself in the customers' shoes, consider how their world is changing, and identify how you can help them.
o Craft your headline
Write an attention-grabbing heading that summarizes what your company is doing and how it will help your customers and the general public. Format your headline in all caps-all capital letters.
o Write a String Lead
Pull readers into your press release by describing a problem they face today or an unmet need or desire they might have that your product will fulfill. You can use one or two sentences but keep it short and relevant.
o Present a compelling argument
Describe the key points that you would like external audiences to understand about the product. Provide details about the problem you are solving, the product, and how the product will solve the problem.
o Explain Your Company's Decision
Now that you have pulled your audience in, explain why the decision to diversify is good for your company. The general public, customers, vendors, and investors may all want to know how this decision will impact your company's stability and growth in the market.
o Summarize the Diversification Decision
Provide a brief outline of the diversification plan you laid out.
o Summarize the diversification Decision
Provide a brief outline of the diversification plan you laid out.
o Explain why the decision was made
Describe the current or future dilemma that led you to decide the company needs to diversify and how diversification will solve this problem.
o Describe the takeaways
In the final section of your press release, provide the information that you want your external audience to take away. What is your company's next step? How and when will customers be able to purchase the product? How does it benefit everyone?
o Provide Launch Details
Identify where in the marketplace the new product is launching and why the decision was made to launch in those areas.
o Emphasize the Benefits
Describe who benefits from this product in both the company and the community.
o Summarize the plan
Close by summarizing the who, what, when, where, and why of your plan.
Format your homework according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length