Do you have a great idea for a new product or service?
Share it, and you could win $500 in the 2016 Allsup Elevator Pitch.
Live Elevator Pitch Competition - Belleville Campus Liberal Arts Complex Room 2311-2313 - Wednesday, April 20 at 5 p.m.
An elevator pitch is an overview of a business idea or opportunity. The term “elevator pitch” highlights the need for persuasiveness, clarity and brevity.
The competition is open to high school students in SWIC community college district 522 and the surrounding area. Students must be registered in classes for the spring 2016 semester.
Complete the online application. A panel of judges will select 15 to 20 applications for the live elevator pitch event to be held April 20. (If your application is selected, but you cannot present on April 20, someone else may present for you.) NOTE: You must provide an email address with your application. The applicants selected to present will be notified by email, so be sure to check your email regularly!
Before you complete the application, you may want to review the evaluation criteria the selection committee will use for the online applications.
The deadline is March 9 at 11:59 p.m.
Following is a copy of the application that includes explanatory notes and an example. The example entries are shown in italics.
- Name of your product/service: Hang Tight
- Describe your product or service in 1-3 sentences.
Hang Tight Example: A clothes hanger with a special finish that keeps clothing from sliding off the hanger.
- Describe the people most likely to want or need your product or service.(This is your target market.)
"Everyone" is usually not a good way to describe the target market. Consider the people most likely to buy. You may come up with several different groups of people who would benefit from this product. Pick the groups that would get the most benefit. They will be your target market - the people for whom you will design all of your marketing material to convince them to try your product or service.
Example using the Hang Tight hanger: The people most likely to buy this are women aged 25 and up. They are probably living on their own and working full-time so keeping clothes in order is their responsibility. If they have a family, they probably take care of those types of purchases for their household. Of course, men can use this product as well and many will. It's just that women are more likely to buy so I want to create my marketing efforts to get their attention.
To be very specific, I would describe the group most likely to buy my Hang Tight hanger this way: Women, age 25 and up, $50,000 household income, working in an office environment.
- Why would people spend money on this product at all or instead of a competing product or another product or service?
There are many types of hangers available but mine is unique because of the special coating that covers the entire hanger. The coating is skid-free - a very thin layer of rubber-like substance. Pants won't slide off if you hang them along the bottom and blouses and tops with wide necks won't slide off either. This keeps clothes from getting wrinkled as they lay on the floor after falling off the hanger. It saves you time and stress because you don't have to iron something at the last minute when you discover it laying on the closet floor.