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Unit 1   Day 2
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Unit 1 Day 2


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  • Transcript

    • 1. Opening Activity
      • Today, we are going to continue to explore what is business through the perspective of one of your consumer products
    • 2. Opening Activity
      • Show & Tell
        • Stand up & introduce yourself
        • Describe the consumer product you use & why you chose this one
      • Select one product
      • If I am the firm producing this product, what is involved with bringing it to the market (e.g., the retail shelf of Wal-Mart)
    • 3. What is Business?
      • Can we assume just because X made it on the retail shelf, the product will sell?
        • No!!!
        • Businesses don’t operate in a vacuum or have a monopoly
        • Competition almost always exist & have to consider their actions
      • Who are some of X’s competitors?
    • 4. What is business?
      • Assignment: Product & Competitor Presentations
        • Going to put you into 5 teams
        • Each team will pick one of the products discussed today (no duplicates)
          • The class’ chosen product
          • One of its competitors
        • Need to develop a Power Point presentation to be given next class with the following slides:
    • 5. “ What is Business” Presentations
      • Introduction/Team Members’ names
      • Company
        • Who makes it, what do they also make (e.g., other products), company headquarters, etc.
      • The product
        • Prices & variations of product (e.g. different flavors/scents), mention any category extensions if applicable (e.g., Tide w/ Downy, Crest w/ Scope), where sold
      • Product’s advertising and promotion techniques
        • Do they advertise, in what mediums (e.g., tv, magazines, on-line), what is their slogan/theme, etc.
      • 5. Product’s target market (opinion based)
        • A specific group of customers at which a company aims its products and services. Typically, this group possesses common characteristics and has a high likelihood of purchasing a particular product or service. The target market is often defined in terms of geographic, demographic, and psychographic characteristics
    • 6. “ What is Business” Presentations
      • Product’s positioning and/or product differentiator (opinion based)
        • Positioning = Getting consumer to think of a product in a certain way
            • E.g. BMW – the Ultimate Driving Machine
            • E.g. Suave – the same performance as the more expensive brands for less
        • Product Differentiator = reason to believe; how does the product separate itself from the crowd; could be an ingredient or an image
              • E.g. Dove - ¼ cup of moisturizer in each bar of soap
              • E.g. Axe – Going to get you the girl, “sex appeal”
              • Note – some products may only be differentiated on price and not have any unique features compared to the competition
      • 7. Manufacturing
        • How do you think it is made, what are the ingredients, different types of packaging the product comes in, etc.
      • 8. Last slide - Summary
        • What were your group’s key learnings & take aways, etc. from doing this project
      Bring your book to class next time!
    • 7. “ What is Business” Presentations
      • Go to lab
    • 8. Homework
      • Power Point presentation
      • Read pages 24 – 34 in your book
        • Lessons 2.1 & 2.2
        • Bring your book to class next time!
      • Next class:
        • Give presentations
        • Continue discussion on what business is
          • Start chapter 2
    • 9. What is business?
      • Presentations
        • Tips
          • Speak to the audience vs. just reading information off the screen
          • Maintain eye contact
          • Show enthusiasm
        • Volunteers?