Standards - BMA-ENT-7 Develop a marketing plan to identify, reach, and retain customers in a specific target market.
Bellbuster - None
EQ - What products will your group sell for Market Day? How will you determine your market's wants/demands? How do you know what price you will charge in order to maximize your profits?
Lesson Objectives:
1. Today is one of the most important days in our Market Day journey! Today we will work on Market Research! How do you know what to sell until you have asked or determined what the market is willing to buy? REMEMBER! It's NOT about what YOU like or what YOU will buy or how much YOU will pay for a product or service, all of these things are determined by YOUR MARKET!!
2. Along with your group members, come up with a survey to focus on what your group will sell and the max price your target market is willing to pay for your product.
3. Please create a survey which has a minimum of 5 questions. Your survey will need to ask questions to determine if 1) The options that your group came up with last class period, the market will actually buy and 2) How much they are willing to pay for these items. I suggest providing a price range to determine this.
4. Once you have created your survey. please allow me to see it before you print it. Additionally, please reserve paper by printing at least two copies of your survey on one page. Also, you need to present your survey to AT LEAST 20 students.
5. You may conduct your research during the lunch periods, however make certain you see me for confirmation of printing and survey distribution along with a pass to the cafeteria. Two groups will be allowed at a time with 20 mins a piece to conduct your research.
6. Once you return to the class, please begin on the disaggregation of your data. Please note, based off of your results, your group may/may not need to rethink the items that you will sell. Your research will either support or force you to rethink your initial ideas.
Materials Needed:
Bellbuster - None
EQ - What products will your group sell for Market Day? How will you determine your market's wants/demands? How do you know what price you will charge in order to maximize your profits?
Lesson Objectives:
1. Today is one of the most important days in our Market Day journey! Today we will work on Market Research! How do you know what to sell until you have asked or determined what the market is willing to buy? REMEMBER! It's NOT about what YOU like or what YOU will buy or how much YOU will pay for a product or service, all of these things are determined by YOUR MARKET!!
2. Along with your group members, come up with a survey to focus on what your group will sell and the max price your target market is willing to pay for your product.
3. Please create a survey which has a minimum of 5 questions. Your survey will need to ask questions to determine if 1) The options that your group came up with last class period, the market will actually buy and 2) How much they are willing to pay for these items. I suggest providing a price range to determine this.
4. Once you have created your survey. please allow me to see it before you print it. Additionally, please reserve paper by printing at least two copies of your survey on one page. Also, you need to present your survey to AT LEAST 20 students.
5. You may conduct your research during the lunch periods, however make certain you see me for confirmation of printing and survey distribution along with a pass to the cafeteria. Two groups will be allowed at a time with 20 mins a piece to conduct your research.
6. Once you return to the class, please begin on the disaggregation of your data. Please note, based off of your results, your group may/may not need to rethink the items that you will sell. Your research will either support or force you to rethink your initial ideas.
Materials Needed:
- Marketing Survey
- Pencils
- Printing Paper
- Lab Printer