Standard 18: Describe the major modes of transportation involved in the distribution of goods, including advantages and disadvantages of each, and identify the types of products best suited for delivery via each mode of transportation.
Channel Management
Objectives
Describe the nature and scope of physical distribution
Identify transportation systems and services that move products from manufacturers to consumers
Name the different kinds of transportation service companies
Turn in your text book to page 512. Look at the picture and read the text at the bottom.
Having a product people want to buy is only part of being successful in business. You also must be able to get it to them when they want it, and at a reasonable cost.
What factors might affect transportation costs?
What do you think is the most expensive way of shipping an item such as a laptop computer?
What might be the least expensive?
So what is channel management?
How do tariffs affect international trade?
When you have a product to sell, it's going to be important to be able to get your product or service into the hands of the customer. Today we are going to look at some ways to make that happen.
Types of Transportation Systems
On your own paper give the characteristics and types of products transported
of the following systems from the information given in the textbook. (pages 515-523)
Trucking
Common Carriers
Contract Carriers
Private Carriers
Exempt Carriers
Railroads
Marine Shipping
Pipelines
Air Cargo Services
Use the graphic organizer provided to list the advantages and disadvantages of different types of transportation modes.
Alternative: Make a copy of the tables linked here (2 pages) and complete with the above information. Email completed doc to julie6davis@gmail.com with #18 Distribution as the subject.
Objectives Reached?
What is the nature and scope of physical distribution?
What are different transportation systems that move products from manufacturers to consumers?
Can you name the different kinds of transportation service companies?
Standard 20: Explain Feature/Benefit selling. Break down a selected product into the features and benefits most likely to resonate with a target population, and translate five product features into five customer benefits.
Today we are continuing our unit on SELLING! We will be looking at preliminary activities in which a sales person is involved.
Bellwork
Take notes while reading pages 297 through page 302
Feature/Benefit Selling
Who in our class has had a job? Was there a big learning curve to remember all the things you learned in training?
You will need to know about:
Your product
Industry Trends and Competition
Merchandising
Feature/Benefit Selling is matching characteristics of a product to a customer's needs and wants. A customer buys a product because of what it will do for them, how it will make their life better. A good salesperson is able to help the customer see how their life will be improved with the purchase of the product through feature/benefit selling.
Product Features
Basic features
Physical features
Extended product features are what really sells the product as we talked about above. These are the benefits that will improve the customer's life, called selling points. (See the two situations on page 302)
Advantages
Sales personnel must also be aware of the competition so they can emphasize the advantage your product has over the competition.
Customer Buying Motives
Determining the buying motives of potential customers will enhance the features/benefits that should be emphasized when presenting a product.
Rational motives
Emotional motives
Patronage motives
Class Practice: Can we differentiate features / benefits?
Take any product and list 5 features of that product.
Now take those features and come up with ways that those 5 features make a customer's life better.
iphone 6 - Features (5)
Group Practice
In groups of 3 select 1 product and list at least 6 features on chart paper and list the benefits of each feature. Be prepared to share with the class.
Individual Evidence
Complete the worksheet provided. For each product find 3 features and how each feature can benefit a buyer. Be sure to list basic, physical, and extended features for each. Use this format!
Wrap it UP!
Answer questions 1-3 on page 305. Use complete sentences. Label paper clearly and turn in by the end of the period.
Standard 12: Distinguish between price and non-price competition; provide 5 examples of competition for customers. Standard 13: Explain the theory of supply and demand by diagramming a recent purchase of both an elastic and non-elastic product.Use the price paid at the time of the purchase as the equilibrium price; show the impact on price due to an increase or decrease in demand or supply.
Introductory Concept
Distinguish between price and non-price competition from page 116 in your text book.
On your own sheet of paper provide five non-price examples of competition for customers.
When you finish your paragraph, read pages 119- 121 in your text book.
What's It Worth To You?
What would you pay for the price of this candy? .25, .50, .75, $1, $1.25?
Review
Economies are created as nations provide for the needs and wants of its people through economic resources (factors of production)
What are the different types of economies?
Who determines what goods/services are made and sold?
What economy best describes the U.S.?
Last lesson we leaned that a market economy is generated by the free enterprise system (competition)
Monopolies
Examples of price competition
Examples of non-price competition
Standard/ Objectives for Today
Explain the theory of supply and demand
Diagram both elastic and non-elastic products
Understand the impact on price due to increase or decrease in demand or supply
What is Tulip Mania?
Have you ever heard the term "tulip mania?" Watch this video and find out about what happened in the 1600's in the Netherlands that generated this title.
Class Discussion
Since we have been learning about our free enterprise system, it might be interesting to see how prices are assigned to the products that you want to purchase. Remember, in a command economy the government calls all the shots about what, who, and how products are made available.
In a market economy prices are determined by supply and demand.
Let's look at figure 5.1 on page 120 to see how supply and demand works.
What is the theory of supply? (Where did you find that?)
The price of a movie ticket goes from $7.00 to $8.50. What should happen to the demand for these tickets?
Why would an economist say that "Supply and demand are inversely related to one another"?
Surpluses
Businesses try to avoid surpluses and shortages, both of which can lead to problems.
What are some synonyms for surplus?
What are two common causes of surpluses?
Shortages
What is an example of a situation in which a shortage is caused by a change in supply? A change in demand?
How do shortages affect businesses?
You manage a home improvement store. Your area has just been hit by a flood. Building supplies quickly become in short supply. Would you raise prices to profit from this shortage? Why or why not?
Equilibrium
How would you define the equilibrium point?
On your paper draw the demand curve on page 120 from the data at the top of the illustration.
Recap
Remember: In a market economy prices are determined by supply and demand. Let's
watch this instructional video explaining how this occurs in our
economy.
Questions to Think About
What product that you recently purchased could be used as an example of supply and demand in action?
What are the four different types of economies that we learned about in chapter 3?
Does the theory of supply and demand affect all types of economies? Why or why not?
Any questions? Ready to take this concept a little deeper?
Read
the "Supply and Demand" Section on pages 592-593 and be prepared to
explain the difference between elastic and non-elastic demand.
List on your paper the 5 factors that determine demand elasticity on page 594.
Notice how the demand curve looks different for non-elastic (gasoline) vs. elastic (pizza)
Categorize
the following goods and services to tell whether they have elastic or
inelastic demand values (be prepared to attach one of the 5 factors that
helped you determine elasticity:)
You will either be a buyer or a seller depending on which color card you get. The goal is to buy or sell one unit of the product being traded (widget). The price at which you can buy or sell is dictated by your economic situation (maximum or minimum on your card.)
You must trade one unit during each round of the game to see who wins the prize.
KEEP THE INFORMATION ON YOUR CARD A SECRET!
Buyers will make bids on the trading floor anywhere from $0 up to the maximum price on your card. You cannot bid over your maximum price. Your profit will be calculated by taking the difference between your max price and the actual price you paid for the product. To make the most profit, you will want to buy as low as possible.
Remember, each student can only make one transaction per round. After you have settled on a price with a seller, both students will record the sale on the transaction sheets. Bring to me to verify and record each sale, then move off the floor until the next round.
Sellers will be making offers to sell on the trading floor but cannot ask for a price below their minimum price on their card. Each seller's profit is calculated by taking the difference between the minimum selling price on their card and the actual price they sold the product. To make the most profit, sellers want to sell as high as possible.
Remember there can only be one transaction per round. After you have settled on a price with a buyer, both students will record the sale on their transaction sheets, then bring to me to verify and record each sale. Students should then move off the trading floor until the next round.
At the end of each round, students will calculate their total profit.
The student with the most profit at the end of the game receives the winner's prize.
Exit Ticket
(Using the same paper that you used for your bell work on Tulip Mania), draw two different demand curves:
Standard 27: Identify the main components of a print advertisement
What is a press release?
Can news reporters always be present when something "news-worthy" happens?
Who will report if the newsperson is not available?
In any business or organization there may be some news-worthy happenings that you may need to write yourself and email to the media to see if they believe their audience would be interested in what you have reported on.
For Example: If I own a dentist office and we get hire an extra dentist to our staff, the community might be interested in this information.
Or, if my company or organization collected warm coats for school children that needed them, that might be the kind of positive news that media might want to print or broadcast.
Writing press releases is part of the job description of public relations.
Remember! Due to the ease of sending press releases via email,
publishers receive an abundance of press releases, so yours needs to
really stand out and grab their attention from the beginning!
Who produces a press release?
Who uses the press release?
Assignment:
Time to create your own press release!
Create a press release for one of the following topics...
Summer Experience
Start of School
An event of your choice (confirm topic with Mrs. Davis)
Create on a Google Doc and send as an attachment in an email to julie6davis@gmail.com
Grading Rubric for Press Release: 30 points Total
2 Points - FOR IMMEDIATE RELEASE/Formatting
2 Points- Headline
2 Points - Location/Date
Lead Paragraph: Be sure to shade each in your beginning paragraph! See the example here.
2 Points- Who?
2 Points- What?
2 Points- Where?
2 Points- When?
2 Points-Why?
2 Points- How?
Standard 20: Explain feature/benefit selling. Break down a selected product into the features and benefits most likely to resonate with a target population, and translate five product features into five customer benefits.
Opening Assignment
For the next few lessons we will be digging deep into the selling process. You have been on the buyer side of selling. Let's look at the seller side of selling.
You will need a sheet of paper to take the personality test by clicking on the link.
Follow steps 1, 2, and 3 to determine what your MBTI score says about you.
On that same sheet of paper make a list of your personal strengths and weaknesses that would be necessary (helpful) in a sales career. Be prepared to share with the class.
Open your book to page 297. As you read through page 303, take notes over terms and concepts in the reading.
Essential Questions
Do you think selling is a learned or a natural skill? Why?
How could knowing your personal strengths and weaknesses serve to make you a more effective salesperson?
What other aspects of business also use the same skills that make you a successful salesperson?
Why is it important to be knowledgeable about the product that you are selling and its competition?
How important is the sales process for a business?
In this unit students will analyze skills needed to be successful in a sales career, understand the steps involved in the selling process, and develop and deliver a sales presentation.
Selling Overview
Chapter 12.1 (page 277)
Purpose and Goal (quote)
Sales Management (280)
Chapter 12.2 (p 285) Personal Selling
Types of Sales Positions
Steps of a sale (286)
Customer Decision Making (287) - Extensive, Limited, Routine
Chapter 13.1 Getting Ready to Sell
Product Knowledge (297)
Industry Trends and Competition
Merchandising (298)
Feature-Benefit Selling
Today will be focusing on feature/benefit selling. In feature benefit selling, you recognize the features of your product and determine how these features will "benefit" the customer.
Caractucus Pott is an inventor that has yet to make his fortune on any
of his inventions. Even the candy that he invented has holes in it
which makes it appear as another mistake. With the right perspective,
hard candy with holes acts as a whistle! Suddenly, the sales pitch to
Lord Scrumptious is all about the fun you can have whistling while
enjoying your candy... Listen to some of the features of the candy called "Toot Sweet" and see if you hear any benefits to the customer as well.
What were the features of the product?
How could those features "benefit" the consumer?
Take a look at this jacket on display. Lets talk about the features of each.
extended features - intangible attributes (reputation of brand, warranties, financing, price, extended service contracts, etc.)
When you are wanting to make a purchase of a new product that you are fairly unfamiliar with, what kind of salesperson do you hope to find?
Exit Ticket
What is feature/benefit selling?
On your original sheet of paper, contrast how basic features, physical features, and extended product features are different.
Standard 11: Explain the characteristics of the free enterprise system. Argue for or against the claim that private ownership, competition, risk, and the profit motive benefit society. Critique the arguments of others and cite evidence to develop original claims and counterclaims.
Traits of Private Enterprise
Bell work
Google "The American Dream." What are the principles behind it? What are some examples of what it looks like? Cite your source/author. Write your answers on your paper and be prepared to share with the class.
What motivates you?
Do you remember when you started caring that you brush your teeth or fix your hair a certain way? What motivated you to start caring? Did you start wanting to be noticed in a positive way by your friends? Maybe you had a crush on someone of the opposite sex and you wanted them to notice you.
Maybe you really wanted a pair of certain shoes and you were going to have to buy them with your own money. Did that motivate you to find a job?
Maybe you want to buy a car, but the cost of the car, plus gas, plus insurance made you get a job.
Today we are talking about private enterprise and how it serves as a great motivator for success.
Quote To Think About
" freedoms found in private enterprise make it enticing to be a business owner."
What are some of these freedoms?
In what ways might owning your own business take away some of your freedom?
Objectives
Explain the characteristics of a private enterprise.
Distinguish between price and nonprice competition.
In a market-oriented economy, people have freedom of choice, freedom to purchase goods and services with income they have earned. People can start a business with the money they earn. People can invest their money in banks to earn interest or in business to earn dividends. All these freedoms are fundamental to the concept of private enterprise, or free enterprise.
The basic elements of the free enterprise system include:
freedom to own property
freedom to compete
freedom to take risks
freedom to make a profit
People are encouraged to start and operate their own business. Prices are determined by supply and demand. The government does not set prices - consumers do. On occasions the government does step in to protect citizens.
Let's look at each of the basic elements of free enterprise.
Ownership
In a free enterprise system you are free to own:
property (cars, computers, homes)
natural resources (oil, land)
And you are free to do with your own property as you want:
sell it, lease it, give it away (most try to earn income from property ownership)
Give examples of something people own that they purchase for the purpose of making money-
Examples of Ownership:
Business ownership (zoning laws) What are zoning laws? Entrepreneurs or Investors
Intellectual Property Rights - Patent, trademark, copyright
Competition
Competition is one of the ways the free enterprise system benefits consumers. Because of competition, businesses must continually find ways to make products better while finding ways to keep prices down so that their customer does not leave them for another company with a superior product/price combination.
Price competition - low price used as competitive advantage (sales, rebates, etc.)
Nonprice competition - stress quality, service, location, financing, reliability, reputation, market knowledge, free shipping, etc.
Monopoly - one firm controls the market for a given product or service; not permitted in market economy system because they prevent competition (utilities deregulated so consumers have choice)
Risk
Business risk - the higher the risk, the higher the payoff (1 out of every 3 businesses fail after one year of operation), lawsuits, bad publicity, natural disasters
as industry develops and profits are growing - more competitors enter the market (competition)
companies that cannot compete face failure
new products are risky and costly - 85% new products fail within the first year
Case study #1
After over 50 years of business, Circuit City filed for bankruptcy. They were the second largest electronics store after Best Buy.
How do you think this company's failure affected its employees, the communities where they were located, and it's competitors?
What advantage did this give Best Buy?
Do you think there might have been any disadvantages? If so, what might they be?
Profit
Profit is the money earned from conducting business after all costs and expenses have been paid.
The range of profit for most businesses is 1-5%. The rest of the 95-99% goes to pay costs, expenses, and business taxes. (What is 5% of $500?)
Profit is the motivator for people to take the risk to start a business.
Profits are good for the economy - encourages people to develop new products and services in the hopes of making a profit.
Profit remains high when sales are high and costs are kept low (efficiency)
Economic Cost of Unprofitable Firms
layoff workers
lower dividends for stockholders lead to selling shares (less resources for firms to do business)
less tax money for government
higher unemployment
Economic Cost of Successful Firms
hire more people
higher incomes, benefits, morale
investors earn (spend or reinvest)
vendors and suppliers make more money
Government receives more taxes from individuals and businesses
If you had just started a small business that was making a profit, what do you think you would do with this money?
How important is it to our economy that most businesses make a profit? How do we all benefit from their success?
Group Marketing Case Study #2
Read the case study on page 115 about The Polaroid Company.
Discuss with a partner: What risk did Polaroid take when it stopped production of the film used in its traditional instant camera knowing it still had a strong following of consumers? Be prepared to share with the class.
Not sure what a Polaroid camera is? Check out the link for a tutorial. Polaroid
Standard 10: Produce a graphic illustration of the business cycle and describe what happens to the economy at each stage of the business cycle.
Objective:
Analyze the key phases of the business cycle.
Wrap Your Brain Around the Concept
What is an example of a cycle in nature?
The business cycle in economic terms is cyclical as well. We have strong
times when people have jobs, are confident, and spend money on luxury
items. We also have times when unemployment increases, people have less
money to spend, businesses struggle to earn the same dollar amounts and
must cut back. Each response affects another part of the cycle (like
amoeba tag).
Read pages 75-77 in the textbook.
Can you answer these questions?
During a recession, what is the average person's fear?
How is a depression different from a recession?
The executives at a television manufacturer increased production because they believed the economy was in recovery. Now they have large quantities of TVs in their warehouses. Why do you think they have this overstock condition?
Review Key Concepts
What are the three goals of a healthy economy?
How does monitoring economic measures help economists achieve the three goals of a healthy economy?
Describe the effect of high unemployment on a nation's economy.
Describe what happens to an employee in each phase of the business cycle.
Partner Project
Work with a partner to produce a graphic illustration of the business cycle (expansion, recession/depression, trough, recovery) and describe what happens to the economy at each stage of the business cycle.
Cite examples of businesses that can flourish in each stage of the cycle (hint: different businesses can flourish at different stages of cycle.) Be prepared to share with the class.
Upcoming Test over Chapter 3
Next class time we will have a test over chapter 3. Use Quizlet to help you prepare.."Marketing Chapter 3 Political and Economical Analysis Quizlet Chapter 3
Standard 9: Explain how economic indicators are used in a market economy for business analysis and marketing decisions. Demonstrate the ability to retrieve and interpret figures from public websites.
Opening Assignment
On your own paper answer the following questions: (20 minutes)
How would you describe a healthy teenager (physically, habits, etc)?
Which, if any, are personal goals you have made for yourself? (you won't have to share aloud)
How do teens actions affect their health?
In your opinion, why do so many of us act in ways that are not healthy?
Do you think the economy in the United States today is healthy?
How can we measure the health of our nation's economy? Read pages 70-74 and be prepared to discuss in class.
Class Connection
Take vitals of volunteer students. (optional, 7 minutes)
Today we are actually going to be asking if our economy is healthy. Much like looking at different factors of your personal health, there are measurements in 5 different areas that we can check to see how are economy is faring.
Name a period in U.S. history of which you would not want to be a part.
Video 1
Objectives:
List and define the goals of a healthy economy
Explain how an economy is measured
Use online data resources to measure U.S. economy health
Goals of a Healthy Economy
increased productivity
decreased unemployment
maintain stable prices
Economic Measurements
1. Labor Productivity
invest in new equipment for more efficient work
additional training or financial incentives
reduce workforce
specialization and division of labor (ex: assembly line)
What government agency is responsible for reporting the U.S. GDP?
Why do you think the United States government switched from using the GNP to the GDP?
Inflation refers to rising prices. Give an example of economic inflation with a product that you purchase?
Why and how does the government sometimes try to discourage borrowing money?
Click on the following link to determine the U.S. inflation rate for 2015. U.S. Inflation Rate
Is the most recent year's inflation rate higher or lower than the previous year?
Is that good or bad?
Is the trend getting better or worse?
5. Unemployment Rate
The lower the unemployment rate , the greater the chances are of economic expansion.
More people working = more people spending money, paying taxes (less social services)
Click on this video link from 2012 as it brings up the idea of under-employed workers and how they skew the unemployment rate. Interesting to think about...
Ask each other the following questions and be prepared to share with the class:
Do you know anyone that is currently unemployed and actively looking for a job (no names please)?
How long have they been unemployed?
How do you think unemployment levels affect tax-payers?
Other Economic Indicators and Trends
The Conference Board (private business research organization)
consumer confidence index
consumer expectations index
job index (consumer's perceptions about jobs available)
consumer polling
retail sales
big purchases (housing, trucks, autos)
wages and new payroll jobs
Review What You've Learned
So back to the question that I posed in the opening assignment...
How can we measure the health of our nation's economy?
Answer the following questions on your paper: (5 points each)
What are the 3 goals of a healthy economy?
What are the 5 key economic measurements?
What indicator would you use to determine if employers were hiring more workers?
What is inflation and what does it tell us about the strength of our economy?
Since 2005 what 3 years had the highest inflation rate (in descending order starting with highest)?
Research Report
Prepare a one page essay over the topic listed below.
Must be typed, DS, 12 pt size font, Times New Roman
Due next class period.
Which of the above
economic measurements need a specific strategy for improvement for our current U.S. economy and why
(cite your reasoning)?
Rubric: 50 points available
10 -Formatting per instructions
10 -Grammar and punctuation
10 -Use of one of the discussed economic measurements (showing understanding of how measurement relates to the health of the economy
10 -Cite U.S. data and source of information in the report and as a footnote
10 - Headings: Title, "Dear Economic Doctor", Labeling of Report (see sample and checklist)
Standard 8: Explain the concept of economy, delineating between
micro and macroeconomic principles, and discuss how scarcity and factors
of production require nations to make economic choices. Compare and
contrast how the various economic systems (traditional, market, command,
mixed) try to answer the questions:"What to produce? How to produce
it? For whom to produce?"
Types of Economic Systems
Read pages 63-69 in textbook.
Nations must answer these three basic
economic questions about how best to use limited economic resources to
get the goods and services the country needs.
1. What goods and services should be produced?
2. How should the goods and services be produced?
3. For whom should the goods and services be produced and distributed?
Based on how countries answer these questions, economists have classified economic systems into three broad categories.
Traditional Economies
What to produce? little choice, what they need to survive using natural resources
How to produce? usually use simple, handmade tools and their ingenuity, learned from ancestors
Produce for whom? for themselves, any excess are traded among residents
Market Economies
Market economies are propelled by the rights of individuals and companies to produce and sell through competition without government involvement.
What to produce? consumers decide by purchases
How to produce? businesses decide by keeping costs low in hopes of producing high profits
For whom? people with money
Command Economies
A country's government decides what, how, and for whom goods and services will be produced.
Student Activity
After reading pages 65-69, with a partner create a PowerPoint presentation (Google Presentation) over one of the Political and economic philosophies listed in the section: capitalism, communism, socialism
Elements of the presentation: (55 points total)
Define the philosophy in your own words. (5 points)
What type of economic system does this fall under? traditional, market, or command economy (5 points)
List 3 countries that fall in that category.
For each country, create a slide that shows where that country is located on a larger map and an additional slides for the following questions (15 points)
What are it's economic resources? (5 points)
What is it's political philosophy and how long has that country practiced this philosophy? (5 points)
Who is it's leader (name) and what is his/her title (include picture)? (15 points)
Now that you've had a look at the different political philosophies and how they impact our economy, write a 1 page essay (+ sources page) about what is great about America from an economic perspective. Due at the end of class tomorrow. Persuasive Essay - Convince Me!
Rubric:
50 points total
15 -Length; Intro, three points, closing
5 -Grammar
5 -Domain-specific language
15 -Three different reasons that make America great
5 -Persuasiveness
5 - Cite 3 sources
Standard 8: Explain the concept of economy, delineating between micro and macroeconomic principles, and discuss how scarcity and factors of production require nations to make economic choices. Compare and contrast how the various economic systems (traditional, market, command, mixed) try to answer the questions:"What to produce? How to produce it? For whom to produce?"
Opening
What do you think is the coolest mascot for a team? Why?
Look at the picture of the bull on page 58.
Now look at DECA students in front of that same bull in the financial district of NYC.
If we are talking about our economy, why would a bull be presented in the financial district?
This goes back to our economy and hopes for our nation. If our economy is strong, who benefits?
Let's look at what creates an economy: Read pages 61-62 to gather some initial information.
What's an economy?
An economy, or economic system, is the organized way a nation provides for the needs and wants of its people. Countries with different economic systems have different approaches when making choices. From their resources available, they must determine how to provide for their own population... through manufacturing, buying, selling, transporting, and investing.
Micro vs. Macro
Micro View
Macro view
Macro View
Micro View
Macro
Micro
Now that you understand the concept of macro vs. micro as a prefix, try to think what how you would explain the concepts of macro-economics vs. micro economics...
Microeconomics vs. Macroeconomics: See the short video below to understand the difference between the two perspectives.
What are economic resources?
Economic resources (factors of production) are all the things used in producing goods and services. These factors of production include land (natural resources), labor (people who work), capital (goods used in the production process), and entrepreneurship (skills of people willing to invest time and money to run a company).
Scarcity
Scarcity is the difference between wants and needs and the available resources. Think of something that is very valuable. Take diamonds for example. Diamonds are very expensive because they are rare. There are not enough diamonds for everyone to have all they want (or need). They are scarce.
Now, think about a source that is seemingly unlimited, like air. Do we have all the air we need? Air is not as scarce as diamonds are. See the difference?
Now use the concept of scarcity to economic resources. Different economies have different amounts of economic resources. The U.S. has an abundance of entrepreneurs, and many natural resources, but it still cannot meet the needs and wants of all its citizens. Similar concepts are the same for all nations in different degrees.
Types of Economic Systems
Nations must answer these three basic economic questions about how best to use limited economic resources to get the goods and services the country needs.
1. What goods and services should be produced?
2. How should the goods and services be produced?
3. For whom should the goods and services be produced and distributed?
What do you think?
Preventing Green Fatigue - page 66 in textbook
Tired of ads about eco-friendly products? You may be suffering from green fatigue - confusion and skepticism caused by marketing claims about products' green benefits. Some of these claims are true. Others are examples of "greenwashing," or making a product sound more environmentally friendly than it is. In response to the rising tide of greenwashing, the Federal Trade Commission has developed rules about environmental claims. All claims, whether specific or implied (suggested), must be backed by scientific evidence.
On the worksheet labeled Preventing Green Fatigue...
1. select one of the products listed on the front and complete the front side of the worksheet.
2. Identify the (green) scientific evidence the company offers (on the package or its website), to support the claim. List evidence on the back of the worksheet. Explain in one paragraph whether you think the claim is valid. Be prepared to share your findings in class.
Standard 4: Analyze the elements of a marketing plan and retrieve sample templates from real companies. Discuss common elements of each marketing plan and identify different objectives that the companies outlined in each plan, citing specific textual evidence. (TN CCSS Reading 1,6, 8,9; TN CCSS Writing 8,9)
Review:
What is a SWOT Analysis?
Today's Objective: Explain the basic elements of a marketing plan
What is a Marketing Plan?
Read pages 37-41: Visual Literacy: Look at Figure 2.2 on page 38.
Compare:
1. How is a marketing plan similar to a road map?
2. How can a small business benefit from writing a marketing plan?
What are the elements of a Marketing Plan? Recall:
3. What is the advantage of reading a marketing plan's executive summary?
List: 4. What criteria is necessary in composing a marketing objective? Analyze: 5. Why must marketing objectives align with an organization's mission statement? Analyze: 6. Why do you think that the company's mission is the first component under Objectives?
Recall: 7. What goes into the situation analysis?
Read about Marketing Strategies on page 39:
A marketing strategy identifies target markets and sets marketing mix choices that focus on those markets. Recall: 8. What does the term key point of difference mean? Apply: 9. What do all marketing strategies need to take into account?
Read about Implementation and Evaluation and Control on page 40: Explain: 10. What is the meaning of implementation in the context of a marketing plan? Analyze: Refer to Figure 2.2.
11. How are items B and C under implementation related to one another?
The Marketing Audit:
Evaluates a company's marketing objectives, strategies, budgets, organization, and performance.
Can be visualized as a circular pattern that continues through the three phases of the marketing process of planning, implementation, and control.
Ask yourself: Did we accomplish the objectives listed in the the marketing plan within the boundaries of the plan?
Because of the important feedback that a marketing audit provides, a company that regularly conducts marketing audits can be more flexible and responsive than a competitor that reviews its processes only every now and then. Recall: 12. When does a marketing audit take place? Analyze: 13. Why is it important for the audit to cover both areas that seem to be functioning well in addition to those that are not? Synthesize: 14. How might a marketing plan go outside its boundaries?
Review Key Concepts
Complete questions 1-5 on page 41 using complete sentences and appropriate vocabulary.
Group Project
In groups of 2-3 people, research marketing plans for real businesses online. Be prepared to talk about the elements of how their marketing plan is similar to the template that we discussed today.
Standard 4: Analyze the elements of a marketing plan and retrieve sample templates from real companies.
Opening Assignment Part 1: (20 minutes total)
On the outline sheet that you picked up from the table, list 2 of each of the following as they relate to you preparing for a successful future.
Strengths 1._______________ 2. ______________
Weaknesses 1. ______________ 2. ______________
Opening Assignment Part 2: Read pages 31-36 in your textbook
Where did the problem lie in this workplace situation?
Class Connect
List the names of companies with which you are familiar.
Why are you familiar with these companies?
Objectives
Learn how to conduct a SWOT analysis.
List the three key areas of an internal company analysis.
Identify the factors in a PEST analysis.
Explain the basic elements of a marketing plan.
Building a House
Similar to building a house.
There is a lot of information that needs to be gathered before they
start hauling in the materials and equipment to start building. What kind of questions might you need answered before you started building a house for me?
Relate
Suppose you had to market yourself as a student. What are your strengths?
Throughout your life you will need to market yourself to achieve success at home, at school, at work, and in the community. You would need to look within to determine what are your unique abilities and also be able to communicate these to others effectively. Your strengths and skills are your selling points, and every time you communicate you have an opportunity to make an impact on how people perceive you.
Businesses must do the same thing to achieve success. In today's lesson we will take a look at the elements of successful market planning.
Before we get to the actual elements of the marketing plan, it is important for you to be aware of some initial information that needs to be gathered that will later be included in the marketing plan.
SWOT
What is the purpose of the SWOT analysis?
What are the three Cs around which internal analysis is centered?
What is the difference between internal analysis and external analysis?
How can a business use a SWOT analysis to assess its place in the market?
Let's say you work for a small electronics company. The owner wants to conduct a SWOT analysis. You think it would be best to hire an outside consultant.
5. What might you say to convince him/her?
Competition - What factor is the "successful marketing of a competitor's product?" (Hint: In what category would you place it in the SWOT table at the top of page 34?)
6. Why is it vital that companies continually keep track of what their competitors are doing?
7. What four factors do the letters in the acronym PEST analysis represent?
8. Do you think consumer confidence might be related to unemployment rates? Explain your answer.
9. A government begins placing tariffs on certain imported goods. What group is most likely to support such an effort? Why?
Look at the image at the bottom of page 35 labeled iOpportunity.
10. What products have become popular as a result of downloading laws?
Internal vs External
11. How are external threats different from internal threats?
12. Which do you think are more dangerous to a company's success in the marketplace?
Class Project - Create Surveys for Gathering Data and Statistics
Get in groups of 4 or 5 students.
Use the questions under "Customer Analysis" as a basis for developing a (10 questions) questionnaire for collecting information about the customers of a particular business in Brownsville. (Ex: restaurant, retail business, doctor's office, gym, etc.) You may look online for customer satisfaction surveys.
Develop questions that can be used to tell a business owner who the customers are, what they want, what they need, what they buy, how satisfied they are with the goods and services offered by the business, and how they perceive the business in terms of quality, service, and value.
One person on the team will create a google form to gather survey information.
One team member may want to research other customer satisfaction surveys.
The rest of the team will work to develop questions particular to that business*.
Questions should be loaded within 30 minutes.
Send the link to me at julie6davis@gmail.com and I will make a post with all the links.
All students will then be directed to take the surveys from different groups.
Groups will collect data and report findings to the class.
What questions produced important information not obvious before?
What questions, if any, brought unexpected results?
Rubric for Report Grading: 40 points total
*Question Guidance:
Remember you are trying to gather information from potential customers
No "yes" or "no" questions
All multiple choice questions - no short answer
Example: How often do you generally eat out? a. 3-5 times per week b. 1 time per week c. 1 time per month
10 Questions - 10 points
Clear, well constructed questions - 10 points
Data collection complete - 10 points
Report presentation - 10 points
Met Deadline - 10 points
Standard 3: Examine the marketing mix; select a product or service
and construct a visual representation with details and examples
illustrating each of the four P's (product, place, price, and promotion)
of that particular product or service. Objective
Explain how each component of the marketing mix contributes to successful marketing.
Read on Your Own
Read pages 20 (The Marketing Mix) -23 in your text book.
Class Discussion
What are the four basic marketing strategies of the marketing mix?
Why would some marketers add a fifth P to the marketing mix? What would the P stand for?
Describe each of the four Ps.
Marketing Mix for a New Juice
Read the different elements of the 4 Ps.
Divide into pairs. With your partner, determine how the 4 Ps might look different if Campbell's was targeting teenagers for it's new juice.
Once you have suggestions for each, each group will share their ideas.
Review Key Concepts Answer questions #1-5 using complete sentences in a Google doc. Email to me at julie6davis@gmail.com.
Standard 5: Explain the concept of market segmentation. Cite textbook and case studies in a discussion of how market segmentation is used as a company strategy to increase its market share.
Assignment: Market and Market Identification
As you read pages 17-20, create
a vocab sheet on a google document to share with me at the end of the
lesson. Some are from previous lessons.
Pay attention to the "As You Read" inserts and graphics
You should be familiar with the correct usage of these
marketing terms when discussing marketing principles in class... and
competitions.
market
consumer market
organizational market
utility (list and define)
marketing concept
seven marketing core functions
market share
target market
market segmentation
customer profile
marketing mix (list and define)
Let's Talk About It
Be prepared to discuss the ideas of "Market" and "Market Identification" (hint: see questions below.)
Lesson Objectives:
Describe how marketers use knowledge of the market to sell products.
Compare and contrast consumer and organizational markets.
Explain the importance of target markets.
Let's Discuss and Learn from each other:
Look at the quote on page 17. What is meant by saying the terminology
in this section is the foundation for future work and study in
marketing?
What markets are you a part of?
What marketing trends have you observed through the media or by watching others?
In your own words, what is the definition of market?
What is the difference between the consumer market and the organizational market?
Why is it important for companies to know their market?
What information does a customer profile contain? How do businesses get this information?
What is market share?
Look at Figure 1.1 on page 18. Explain what the graph is illustrating. What could cause a business's market share to change?
Why might consumers be interested in a company's market share?
On page19 you see two different adds for Campbell soups. How are these ads different? What elements in the ads tells you they are targeting two different markets to buy their soups?
How do you think businesses use the concept of market share in their marketing?
Mini Project
Imagine that a company that sells class rings has targeted our class.
List factors the company can use in its marketing effort based on your group. We will share factors to create a class list.
What are the similarities and differences in the factors?
Divide into groups of 4. How might the company market the same product to:
Males and females
High school students and college students
Stay-at-home moms and business executives
Did you Get It?
Look the State Farm ad on page 20. What market is this ad targeting? What clues do you see about this market? How different would this ad look if the company were advertising insurance policies to businesses?
Wrapping it Up
Hopefully through your reading, class discussions, and working through the project you have a good understanding that...
Marketers identify consumers who have the ability to pay and use that knowledge of the market to sell products.
A consumer market purchases for personal use while an organizational market purchases for businesses.
All marketing strategies are directed to target markets.
Standard: 1 Define marketing and describe the marketing benefits derived from each economic utility. Discuss how each benefit adds value to products and services.
What are the Economic Benefits of Marketing?
Independent Reading: Take the next 15 minutes to read pages 13-15 in your text book.
Class Discussion:
Name new products that are currently being advertised:
What is new and/or different about these products?
Where did you get your information?
Did it come from personal knowledge of the product or from advertisements?
How did you hear about the product in the first place?
From the reading, how does marketing generate new & improved products?
How does marketing lower prices? Who benefits from that?
Objectives:
Describe the benefits of marketing.
Explain the concept of utility.
Cite examples of types of utilities.
Watch the following video and try to determine what you are seeing: What is Utility?
Assignment:
Turn to pages 14-15 to learn more about utility?
On your own paper, give examples in your own words of the following kinds of utility.
Form Utility:
Place Utility:
Time Utility:
Possession Utility:
Information Utility:
Review Key Concepts: Answer questions 1-5 (on the same paper as above).
Standard 2: Describe each marketing core function and supply examples of how each of these functions support the marketing concept.
Group Project:
You have 15 minutes
to complete your group project from last class (Research 3 of the 7 core
functions used for a particular good or service.)
We will begin presentations today.
The Most Magical Place on Earth! Safety... Courtesy... Show... Efficiency
"Brave" Merida- Princess of Scotland
Davis family meets Anna from "Frozen"
Ariel makes a new friend
That's CRM! Customer Relationship Management...
Read to Know: (pages 10-11 in textbook)
Definition: The Marketing Concept
"The marketing concept is the idea that a business should strive to satisfy customers' needs and wants while generating a profit for the business."
Notice: The focus is on the customer.
Help me rephrase the definition of the marketing concept in your own words.
Group Discuss:
Have you ever stopped going to a particular store or using a particular product?
How do businesses keep their customers?
What are the seven marketing core functions?
How do they help a company's market concept?
Why is it important that everyone in an organization recognize that repeat customers keep a company in business?
What is CRM?
How does CRM help businesses employ the marketing concept?
Marketing Case Study: Read the Johnson & Johnson Target Marketing case study on page 10. On a sheet of paper answer the following: (remember proper heading)
Solve the problem in gold
Give short answers (complete sentences) to the following questions:
Can you think of any other examples of companies reaching out to customers in the manner that Johnson & Johnson chose to reach out to the Hispanic market?
Why should a company be very careful when planning marketing strategies designed to appeal to specific ethnic markets?
Teen Spending Power
Forbes Article - How much Financial Power Does Gen Z Have?
Marketing and Management 1: Principles Standard 2: Describe each marketing core function and supply
examples of how each of these functions support the marketing concept.
Marketing is All Around You
You already know a lot bout marketing because it is all around you. You've been a consumer for several years. You've made decisions about products you like and don't like.
Group Think:
1. When have you been influenced by marketing?
2. See how many types of advertising you can think of:
3. Why do you think there are so many types of marketing?
4. Think about the last few purchases you made. Why did you choose to buy your last purchase?
Remember the AMA's definition of marketing? Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
To achieve this, it involves the process of planning, pricing, promoting, selling, and distributing ideas, goods, or services to create exchanges that satisfy customers. This is the scope of marketing!
Discuss:
1. What is the difference between goods and services?
2. Give some examples of how ideas can be sold.
In order for you to go from not having these ideas, goods or services to obtaining them, there are 7 core functions of marketing that are involved to get them to you.
Assignments:
1. Use the provided graphic organizer to list the functions and their purpose: (See page 8-9 in text book to learn about these functions.)
Group Activity:
2. Break up into groups of three (3)
Choose a product or service, and research and
discuss each of the 7 functions of marketing for that product or
service: Prepare a PowerPoint presentation. Use the provided evaluation rubric.
Channel Management
Market Planning
Marketing information management
Pricing
Product/service management
Promotion
Selling
Be prepared to share with the class next time.
Before We Go
3-2-1:
Write your first name on the post-it note provided and list:
3 things you learned
2 things you have a question about
1 thing you want me to know
Turn in as you put your book away in numerical order on the cart
Discuss: 1. Do you have your own brand? 2. What is it that others think of you? Responsible? fun? smart?
Later we will talk about YOUR brand, but this idea of "brand" gets us thinking about the impact of marketing.
You may be wondering... "What exactly is marketing?"
The American Marketing Association changed its official definition of marketing in 2007. Read the AMA's 2004 definition:
2004- Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
Now read the AMA's 2007 definition of marketing:
2007- Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Class Question: How does the 2007 definition differ from the 2004 definition?
"Marketing is no longer a function - it is an educational process." AMA quote to students...
How Does Marketing Impact Business? Read the article found in this link about Sticks and Stones then answer a few questions. At some point in the reading click on the link to "Sticks and Stones" from the article to visit their site.
The following questions are related to the article on "Sticks and Stones". Send
the answers to the two questions below to me at julie6davis@gmail.com.
In the subject line put your name and "Sticks and Stones".
1. In paragraph #7, Jera Deal says she sees herself as the company's target market. What do you think that means?
2. How did the Deals get the word out about their company?
Assignment: Back to the question "What is YOUR Brand?" Sometimes you just meet someone and they want to know about you. Watch this video to learn "tell me about yourself" if you are in a job interview.
1. Create your personal elevator speech on the bottom of your paper. Put your name and "elevator speech" as the assignment name. You wouldn't have much time in an elevator, so your speech should be no more than 4-5 sentences.
