Product Idea / Bibliography Assignments
List five (5) possible product ideas for your team:
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In a three-page maximum report answer the following questions about ONE (top choice) of your possible products. To answer many of these questions you will need to make assumptions, and some you won’t be able to provide data for until you do further research. We are trying to get a general idea if your proposed soy-based idea has merit.
Critical Evaluation of Proposed Product
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What product does your team propose to create?
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Does it make sense to make this product commercially?
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What is the estimated market size available for this product? Is there enough demand for this product to make the development/manufacturing process worthwhile?
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Are there competitive products currently available? How would your product stack up in performance and cost vs other existing products? What benefits/advantages would your product have over existing products or what need does your product fulfill that is not currently met, i.e. how is your product better than what currently exists? If you are replacing another existing component/ingredient with a soy-based component, what is the benefit/advantage?
NOTE: Just being made from soy i.e. use of “green” bio-based components is not sufficiently advantageous to overcome economics/performance deficits.
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What materials will you use to make your product? Be sure that you use only the approved parts of the soybean (that which is harvested).
The idea presented must be NOVEL. It cannot be a currently marketed product or one that is well described in public literature. Make sure that you discuss your product idea with your advisors before you turn it into the Program Manager.
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Bibliography Assignment:
Your team will be required to submit a bibliography using the APA citation style in your final report including all the resources used during the competitions. Set up your bibliography framework now so that you can add to it as your team proceeds. You DO NOT need to turn the bibliography framework in with your Product Idea Assignment.
If your team has any questions regarding these assignments, please direct them to:
Micky Creech
Soy Competition Program Manager
ABE 2034
mcreech@purdue.edu
496-3837