On Tuesday 9 November, 2021 the students of the 10 Commerce elective participated in a Shark Tank. Several lessons prior to entering the tank, the girls were given a simple household object and required to create a new and innovative product from this object. They then needed to create a marketing pitch for their new product and present it in the Shark Tank in a 2-minute pitch. Some of the common objects used included a wooden spoon, kitchen tongs, baker’s twine, spray bottle, stainless steel bucket and a headband. These objects were miraculously transformed into the Mr Mice Guy Eco-Friendly Mouse Trap, Molva Beauty Products, Fantasy Fascinators, Blind Spot Cleaning Tongs, Zap Colour, Fremta decorator bowl, My Cooking Buddy and the Costco Mini.
In the process of marketing their product, the students learnt about the marketing mix of the 4Ps (product, pricing, place, promotion), market segmentation, market research and studied successful marketing campaigns such as the ‘Share a Coke’ campaign and studied Starbucks failure to succeed in the Australian market. The pitches were original, entertaining and informative with the standard of presentation being high. This is the second time that we have run this project with the 10 Commerce classes this year and it continues to be a great way of tapping into students’ creativity and innovation.