Week 6 summative assessment your nameedu 645

1. Week 6: Summative Assessment
Your Name
EDU 645: Assessment for Learning
Instructor's Name
Date
Hint: To complete this assignment, review your instructor’s
feedback on your Week 1-5 assignments, making necessary
revisions.
Hint: Delete all of these green boxes before submitting the
paper to your instructor. To delete the boxes: click on the edge
of each box and press delete.
Summative Assessment
In this section, write a brief introduction to your paper that will
allow the reader to follow the organization of your paper and
the focus of your discussion. Discuss the idea and process of
the backward design model when developing assessments.
Hint: Ctrl + Click INTRODUCTIONS & CONCLUSIONS for
help
Standard and Learning Objective

2. List your selected pathway from Week 1, the standards, and
learning objectives.
Formative Assessment
Describe the importance of a formative assessment. Explain
what a formative assessment is. Explain why formative
assessments should be part of every lesson plan. Discuss how
they should be used. Write one or more developed paragraphs,
including any supporting research.
Based on your Week 2 assignment and any necessary revisions,
explain three ways that you expect to formally assess learners
based on the standard and learning objective that you selected.
Be sure that at least one of your formative assessments utilizes
technology. Describe how these formative assessments are
aligned with your standards and learning objectives.
Hint: Use evidence from your readings to support your ideas in
the above section.
Ctrl + Click QUOTING, PARAPHRASING, & SUMMARIZING
for help
Hint: Ctrl + Click INTEGRATING RESEARCH For help.
Hint: Ctrl + Click CITING WITHIN YOUR PAPER for help.
Development of Summative Assessment
Insert the test blueprint table that you created in Week 3 here.
This blueprint should list the three different learning objectives
you created in Week 1 aligned with at least three different
levels of Bloom’s Taxonomy. Be sure to revise your blueprint
based on your instructor’s feedback.
List your ten questions that you developed in Week 3, making
any necessary revisions based on your instructor’s feedback.

3. Your 10 test questions must include the following:
· Each question should include the learning objective it is
aligned to as well as the level of Bloom’s Taxonomy the
question addresses.
· List the type of question it is (selected-response, constructed,
or performance)
· Include at least 6 selected response questions, 3 constructed
questions and 1 performance-based question.
Development of Rubric for Performance Assessment
In Week 3 you developed a rubric for the performance-based
assessment that you created for your summative assessment.
Review the instructor’s feedback, make any necessary revisions
and then include the rubric here.
Analysis of Data Interpretation
Review the data analysis assignment you created in Week 4.
Revise this assignment based on your instructor’s feedback and
include that part here. Insert your introduction here.
Mean, Median and Mode
Insert your content for the above heading here.
Educational Assessment
Insert your content for the above heading here.
Applying the Data
Insert your content for the above heading here.
Interpreting the Mean, Median and Mode
Insert your content for the above heading here.
Hint: Ctrl + Click Analysis Tutorialfor help.
Reflection
Review Chapter 11.1 of your textbook, in which LeFrancois
(2014) discusses various grading systems, particularly the
method to help learners become self-regulated learners by

4. engaging them in their own assessment. You will perform your
own self-assessment of your final project by completing the
following:
· Access the rubric for your final project.
· Review the rubric and assess your level of proficiency for
each criterion.
· List the criteria, the proficiency level you think you performed
and your rationale.
· After reviewing the rubric and self-assessing your work,
discuss anything that you changed in your assignment. If you
changed something, explain what it was and why.
**Here is a table you might want to consider using to complete
the self-assessment:
Criteria
Proficiency Level
Rationale
Standard and Learning Objective
Formative Assessment
Development of Summative Assessment
Development of Rubric for Performance Assessment
Analysis of Data and Interpretation
Reflection
Intro, Thesis & Conclusion

5. Written Communication: Control of Syntax and Mechanics
Written Communication: APA Formatting
Written Communication: Page Requirement
Written Communication: Resource Requireme nt
·
· Briefly discuss the benefits of having learners self-assess their
work. Provide evidence from your readings or outside sources to
support your response.
Conclusion
Briefly summarize the ideas that you discussed in your
presentation, persuading the audience of the significance of
these ideas.
Hint: Ctrl + Click INTRODUCTIONS & CONCLUSIONS for
help.
References
Template for an APA Academic Journal referenceentry:
Author’s Last Name, Initials. (Year Published). Article title.
Journal Name, Volume #(Issue #),

6. page range. doi: or Retrieved from http:// (journal’s homepage)
Template for an APA Online Magazine or Newspaper
reference:entry:
Author’s Last Name, Initials. (Year Published, Month Day).
Article or Newspaper title. Magazine or Newspaper Title.
Retrieved from http://
Template for an APA Webpage (with a Person as Author)
referenceentry:
Author’s Last Name, Initials. (Year Published). Webpage title.
Website Title. Retrieved from
http:// (website’s homepage)
Template for an APA Webpage (with Corporate/Government
Author) referenceentry:
Title of Organization. (Year Published). Webpage title.
Retrieved from http://
Use APA format to cite and reference at least two scholarly
sources on your References page. Remember, you MUST
include in-text citations throughout your paper to show your
reader what information you used from these outside sources.
Hint: Ctrl + Click FORMATTING YOUR REFERENCES
LISTfor further help.
*In the final version of your assignment, be sure that you have
removed all the hints (green boxes) within the template.
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7. or in part.
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9.
1
9
Pricing
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or in part.
9. 2
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9.
2
Marketing Framework
3
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or in part.
9.
Discussion Questions #1
What would you pay for a Pepsi? Why?

8. What would you pay for a Pepsi at a movie theater? Why?
4
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9.
Why Is Pricing Important?
Price obtains value back from customers
Marketers set optimal pricing
Pricing …
Matches brand positioning
Affects demand
Can be used as a segmentation tool
5
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duplicated, or posted to a publicly accessible website, in whole
or in part.
9.
Demand Curve/Line
Demand tends to decrease as price increases
6
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or in part.
9.

9. Simple Pricing Strategies
The Cs of marketing directly affect pricing
7
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or in part.
9.
Pricing and Profitability
Profit (π)
= (Price × Demand) – (Fixed costs) – (Variable costs ×
Demand)
= (Price – Variable costs) × Demand – (Fixed costs)
Profit increases as price increases
However, demand decreases when price increases
Need to find a happy medium
8
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or in part.
9.
Pricing and Elasticity
Elasticity
How much does demand (units sold) increase (or decrease) with
a price change?
e.g., If decrease price, does volume increase cover lost revenue?
Inelastic: demand barely changes
Elastic: demand changes

10. 9
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9.
Elastic vs. Inelastic Demand
Inelastic demand implies that customer will purchase even if
price increases
10
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or in part.
9.
Calculating Elasticity
(slide 1 of 2)
=
Elasticity
The proportion change in quantity compared to the proportion
change in price
If E > 1, demand is elastic
If 0 < E < 1, demand is inelastic
If E = 1, demand is unitary
11
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or in part.
9.

11. Calculating Elasticity
(slide 2 of 2)
Elastic example
= =
Inelastic ex
= =
12
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or in part.
9.
Elasticity and Customer Segments
Elasticity varies with customer segments
13
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or in part.
9.
Factors That Drive Demand
Demand increases if
Customers’ desire for the brand increases
Perceptions of product’s benefits and brand images increase
Competitive products are poor or priced higher
There are few good substitutes
14
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12. duplicated, or posted to a publicly accessible website, in whole
or in part.
9.
Price Sensitivity
Price sensitivity is greater when
Customers
Don’t care much about the purchase
Don’t have strong preferences
Don’t have strong brand loyalty
Have limited income
The item is a luxury rather than a necessity
There are many substitutes
The purchase is large relative to income
It is easy to compare prices
15
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9.
Discussion Question #2
Do you think most customers are price- sensitive when buying a
car? Why?
16
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or in part.
9.
Low Prices
Two considerations:
You need to cover your costs

13. Compute a variety of break-evens
Number of units needed to make money
You need to determine if you want to have a constant low price
strategy (Walmart) or a fluctuating one (Kohl’s)
17
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or in part.
9.
Covering Costs
Firms need to cover costs
Costs set the minimum floor on pricing
Cost-plus pricing: Unit cost/1 – X%)
Where X% is the intended return
If fixed costs are high relative to variable costs, maximize
volume
If variable costs are high, maximize per unit margins
18
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or in part.
9.
Break-Even Analysis
Break-even (BE)
Number of units to sell to cover costs
Can be computed in terms of number of units sold or monetary
values
BE = Fixed costs/(Price – Variable costs)
19

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9.
Break-Even for a Good
Costs for
Portfolio
Business
Break-Even
for Portfolio
Business
20
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or in part.
9.
Break-Even for a Service
Costs for
Tablet Customization Service
Business
Break-Even
for Tablet Customization Service
Business
21
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15. or in part.
9.
Break-Even, if Service Fee = $100
22
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or in part.
9.
High Prices and Price Sensitivity
How much would sales drop off in the face of a price increase?
Good brands have low price sensitivity
Consider price sensitivity
% change in sales =
Use existing PS estimate
OR
Develop PS estimates using scanner data, survey data, and/or
conjoint analysis
23
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duplicated, or posted to a publicly accessible website, in whole
or in part.
9.
Price Sensitivity and Scanner Data
Scanner data methods
Run experiments by manipulating prices in randomly selected
stores and comparing sales to control groups
Calculate PS assuming 20% discount:

16. Use regression analysis on previous sales
24
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9.
Price Sensitivity and Survey Methods
Conduct a survey to assess willingness to pay (WTP)
$25.00 definitely would not buy 1 2 3 4 5 6 7 definitely
would buy
$35.00 definitely would not buy 1 2 3 4 5 6 7 definitely
would buy
Conduct price studies
Surveys are identical except pricing
A may have higher price than B, B than C, etc.
Each customer fills out an assigned survey
25
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or in part.
9.
Price Sensitivity and Conjoint Analysis
Show product combinations with price; ask “Which do you most
prefer?” “Next?”
Two segments are represented below
Left segment wants the brand and will pay more
Right segment gives up brand for lower price

17. 26
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or in part.
9.
Pricing Question
Given the figures, explain the difference between Sprint and T-
Mobile.
27
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or in part.
9.
Units or Revenue; Volume or Profits
Profit = Revenue – Expense and
Revenue = Price × Quantity sold
To maximize profits, find a price where any further increase in
price would lead to a large falloff in quantity sold
Profit maximization: marginal revenue equals marginal cost
28
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9.
Profit Maximization

18. Marginal revenue = Marginal cost at $1.00
29
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9.
Systematic Biases in Pricing
(slide 1 of 5)
No pricing model is perfect
There are systematic biases in pricing
Price serves as a quality cue; higher price may be more
appealing
However, studies show no correlation between price and quality
for most product categories
Price contributes to expectations
30
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or in part.
9.
Systematic Biases in Pricing
(slide 2 of 5)
Consumers process absolute and relative numbers differently
Absolute: $15 off of a $199 item and $15 off of a $49 item is
the same in absolute terms
Relative: $15 of $199 is 8% while $15 of $49 is 31%
Contextual frame
$499 trip = a $599 trip − $100 discount

19. However, the $599 trip seems like a better deal because of the
higher starting price
31
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9.
Systematic Biases in Pricing
(slide 3 of 5)
Price discounts are mood inductions
Temporary price discounts make customers think they are smart
shoppers
Prices ending in 99
Prices like $4.99 or $49.99 tend to be more attractive than $5 or
$50
People read right to left; thus, the 4 is processed first and leaves
an impression
32
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9.
Systematic Biases in Pricing
(slide 4 of 5)
Mental accounting
People categorize and budget purchases
People pay less attention to future
e.g., Vacation money is different than food money
Compromise effect

20. The inner/middle choice between two extremes is attractive
People assume that if a company charges more, it must be
providing more
33
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9.
Systematic Biases in Pricing
(slide 5 of 5)
Referent pricing
People compare price to some referent, either an externally
available price or an internally stored price
External
“MSRP is $49.99, now available for $35.99!”
“Our price $34.99, compare at $45.00!”
Internal
Relevant memory
Inferences about store, etc.
34
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9.
Discussion Questions #3
Discuss the pricing biases at work in the following examples:
A house builder has three price points on kitchen cabinets
A price tag that reads “was $299 now only $199”
A toy package that reads, “This toy is not only fun but also
educational.”

21. 35
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9.
Price Discrimination
Price discrimination is illegal
Illegal to charge different prices to different people for the
same goods or services
Segment pricing is legal
Different segments value different things
Customers might be annoyed to learn that others paid a lower
price
36
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or in part.
9.
Pricing Questions
What is the ideal price for the deal-prone customers?
What is the ideal price for the brand-loyal customers?
How could you appeal to both?
37
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9.

22. Quantity Discounts/Yield Management
Quantity discounts: the more purchased, the more saved
Yield management: using price and scheduling to manage
demand
e.g., Movies during the day for less money
Need to manage perceptions of fairness
38
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9.
Pricing with a Quantity Discount
39
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9.
Two-Part Tariffs
Charge a fixed and variable usage fee
Price two parts separately
40
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23. or in part.
9.
Concept in Action: Discussion Question
35 respondents would go once monthly to a wine bar with a $5
cover; 20 would go twice at $5; 10 would go once monthly at
$15, etc. Assumes $2 variable cost
What is the most profitable price?
41
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or in part.
9.
Product Life Cycle Pricing
Introduction stage
Penetration pricing: seek market share
Price low to stimulate sales, encourage trial, and trigger word-
of-mouth
Skimming pricing: seek profit
Price high initially, then lower to make product more accessible
Adjust price in various stages; usually end with lower prices in
decline stage
42
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or in part.
9.
Price Fluctuations

24. Temporary cuts may be negative
Competitors can imitate; thus, impact may be negated while also
squeezing margins
Price drops attract disloyal customers
Customers may stock up
May negatively affect brand image
43
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or in part.
9.
Coupons
Coupons are relevant only to coupon clippers
Redemption rate is only about 1%
Effective at encouraging new customers to try new products and
brand extensions
44
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or in part.
9.
Game Theory
Game theory is used to estimate likely results of price cuts and
competitive response
Marketers need to think about the broader market and
competitive responses, not just their own decisions
Mutual cooperation can yield even better outcomes than both
parties acting selfishly

25. 45
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9.
Discussion Questions #4
Can you explain the chart in terms of competitive response?
What do you think the ultimate outcome would be in this
scenario? Why?
46
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9.
Auctions
Price is negotiated by buyer and seller
Bidders compete to buy item
Sealed or open bid
Reservation price: estimate of customer’s willingness to pay
If the price is higher than reservation, don’t buy; if it is lower,
then buy
English auctions: bids start low & increase
Dutch auctions: bids start high & decrease
47
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9.

26. Value
Value
An assessment of what the customer gets compared with what
the customer gives up
It is usually not a good idea to compete on price
Find benefits your customers want and charge for them
48
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or in part.
9.
Managerial Recap
(slide 1 of 2)
Pricing strategies are basically low, medium, or high
Company and its costs can dictate the lower-bound price
Customers’ willingness to pay marks the upper bound
In the middle, price is tweaked up or down relative to
competitors’ prices
49
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9.
Managerial Recap
(slide 2 of 2)
Pricing can be used to
Shape a brand’s positioning
Attract/repel different targets
There are economic and psychological elements to pricing

27. 50
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9.