#18 Architectural Displays

Standard 18: Describe how a business' image is created and/or enhanced through architectural displays; explain the importance of interior displays to a business' overall image.  Create a rubric for evaluating the effectiveness of an architectural/interior display.  In groups, divide a list of local businesses to visit.  Using the rubric, conduct site surveys to evaluate the displays at a minimum of three businesses per group, then share findings with the class in a presentation.


What are the five senses?
Which is the sense that you depend on the most?

Turn to page 416 in your book.  Visual merchandising is often the first contact the customer has with a business.  Window and interior displays promote an image for ta business and its merchandise. 

Why do you think visual merchandising and display are an important part of promotion?

Objectives

• Explain the concept and purpose of visual merchandising
• Identify the elements of visual merchandising
• Describe types of display arrangements
• Understand the role of visual merchandisers on the marketing team

Why is this Important?

Look at "The Main Idea" on page 418. 

On a sheet of paper label the top (Name, date, Chapter 18.1, Display Features), write the main idea sentence, then create a graphic organizer like the one 

#17 Institutional Promotion for a Local Business

#17 Design an institutional plan for a local business.  Include all the elements of the promotional mix.  Identify:

1. Goals
2. Target market
3. Message or theme
4. Coordination aspects
5. Action plan/implementation
6. Evaluation instrument

Here is a prezi found online to talk about different types of institutional promotion.

Click here to to see a sample of an institutional promotion plan for a university. 

Shark Tank Group Project

With a partner, create an institutional promotion plan for a local business.  Include all the elements listed.  You will create both a written proposal and a powerpoint presentation that will be used to present your project to the class.  Think Shark Tank!

Project Rubric - 50 points 

1. Goals - 5 points
2. Target market - 5 points
3. Message or theme - 5 points
4. Coordination aspects - 5 points
5. Action plan/implementation -5 points
6. Evaluation instrument - 5 points

Detailed written document proposal - 10 points

PowerPoint/Presentation - 10 points

#15 Profit and Markup

#15 Explain how a company's profit relates to markup.  Using the same product, demonstrate the ability to calculate retail percentage markup and markdown in dollars and percentages.

Profit and Markup

Today we're going to be learning the process of calculating markups and how that impacts profit.  Look at the photo on page 624.  Read the caption.  

1. Why do you think retailers frequently mark down items or put them on sale?
2. What do resellers consider when determining an item's markup?
3. What are the steps in converting 2/3 to a decimal? 

Objectives

• Explain how a company's profit is related to markup.
• Use the basic formula for calculating retail price
• Calculate dollar and percentage markup based on cost or retail
• Calculate markdowns in dollars and percentages

What is profit really?

If you are a businessperson that sells a radio that cost you $100 and you sell it for $150, what is your profit?  You might say your profit is $50.  That is only partially true.  Read page 627 to explain why that is only partially true?

Basic Markup Calculations

Look at page 628.  

Get out a sheet of paper and lets work through this section on pricing math.

Wrapping it Up

1. How is a company's profit related to markup?
2. What is the basic formula for calculating retail price?
3. Why do retailers prefer to use markup percent based on the retail price instead of the markup percent on cost?

#14 Pricing and the Product Life Cycle

#14 Explain the relationship between pricing and product life cycle.  Write an argument supporting either penetration pricing or price skimming as the best pricing strategy to employ when launching a new product.  Cite examples from news media or other appropriate texts of how each strategy was used in recent product introductions.

Let's see your Baby pics!

I'll give you about 5 minutes to use your phone to see if you can find any baby pics (or when you were younger)

Basic Pricing Concepts

We learned in our last lesson that business owners base their pricing decisions on the following basic concepts:

• Demand-Oriented Pricing
• Competition-Oriented Pricing 
• Cost-Oriented Pricing

Can you describe each of these concepts in your own words?
(26.1 page 604-608)

Pricing Policies and the Product Life Cycle

We learned in marketing 1 about the product life cycle.  With products there are different stages (just like you):  introduction, growth, maturity and decline.  

Before a product is introduced, the business must establish the base price.

• What is a price floor?
• Why is it important that a business know the price floor for a product?

After that the business must determine which basic pricing policy will be used:  (608)

• one-price policy
• flexible-price policy

Pricing Methods for the Each Stage of the Life of a Product

Work with a partner to complete the graphic organizer as you read pages 608-611. (15 minutes)

Let's See What You Learned

What is skimming pricing?

What is penetration pricing?

What type of consumer is likely to purchase a product that has been priced using a skimming pricing strategy?

An auto dealership advertises that it has a one-price, rather than a flexible-price policy.  However, it also advertises that it has the lowest prices around.  Would you like to shop for a car at this dealership?  Why or why not?

What are three things marketers might do to help keep an item, such as a new type of floor cleaner, selling well during the maturity stage?

As the penetration stage continues, what happens to the total costs per unit? Why

Your store applied a skimming pricing policy to a new type of athletic shoe.  As this shoe continues through its life cycle, why is it vital that you keep an eye on sales volume?

Wrapping Up (Exit Ticket)

Write a paragraph supporting either penetration pricing or price skimming as the best pricing strategy to employ when launching a new product of your choice. 

#7 Resume & Interview

Standard 7:  Create a company orientation manual, including sections on, but not limited to, the following: hiring, compensation, scheduling, social media compliance policy, handling grievances, addressing customer feedback, performance assessments, promotions, transfers, and dismissals, ethics in the workplace.

Opening Assignment

On your own sheet of paper list the following categories and complete any that apply to you:

• organizations
• interests (what is something constructive you like to do in your spare time?  not TV or hanging out with friends)
• volunteer work
• paid jobs
• GPA
• HHS Focus area
• Adults (other than family) that would be able to tell what a good person (hard-working, quality results) you are (list 3)

Resume Examples

James Buce

Monica Davis

Ben Ripperton

Jessica Davis

Template

Resume Notes

Click on the PowerPoint link to complete the resume notes.

Objective vs. Profile Statement

See this article to learn the new look at the old Objective statement

Interview Prep

When you interview for a job, they are looking to see if you would be a good fit for the job.  Remember you are also looking at them to see if you could be happy as part of the team.  Hopefully you can interview with more than one company so you can hopefully have options.

On a sheet of paper, answer the questions linked here to help you prepare for the kinds of questions that you might encounter.

Super Bowl Ads

Research of effectiveness of Super Bowl Ads

Review 2018 Super Bowl Ads here

Click here to look at costs for ads over the years from 2002

Super Bowl Ads Questions

Use this worksheet as you watch the Super Bowl commercials to differentiate between Promotional and institutional

#11 & 12 Purchasing

11) Cite the difference between centralized buying and decentralized buying; identify benefits and challenges of each.
12) Describe a six-month plan; identify factors to consider when selecting suppliers and negotiating terms of sale.  Based on findings, write recommendations for adding a new product to the company's inventory.

Purchasing

Introduce the Topic

1. How do items that you purchase in a store get there?
2. What happens when you cannot find a product you need at a store because it is sold out?
3. What does this tell you about the importance of a retail store having knowledgeable buyers?

In the first chapter we discussed two different markets:  consumer market (when you make purchases for your personal use) and the business-to-business (B2B) market (purchases made for use in the business)

We are going to begin a unit specifically learning about "buyers" from the B2B market.  Businesses that make purchases that help them meet their selling goals.  Although there are 4 different markets listed in the reading, we will spend most of our time talking about industrial and reseller markets.

Objectives from Chapter 23.1

• Define the terms used to describe organizational buyers.
• Explain how planning purchases differs between an industrial market and a reseller's market.
• Describe the six-month merchandising plan and explain its calculations.
• Explain the concept of chain-store buying.

Take the next 10 minutes to learn the terms on the flashcards and crossword puzzle linked here.

Read pages 537 to the top of 538 and answer the following questions:

1. What kinds of knowledge must an organizational buyer have?
2. Why does an industrial buyer often have to be directly involved in production planning?
3. In the term procurement manager, what do you think the word procurement means?
4. From what you just read about the industrial market, how do you predict that the "industrial market" is different from the "reseller market"?
5. How would you describe a "master production schedule"?

Read page 538 about the Reseller Market and answer these questions:

1. What two operations are included in the reseller market?
2. From the "Hot Topic" insert what 4 major roles to "buyers" perform?

Visual Literacy

Read the "Buy to Sell" caption at the bottom of page 538.

1. What can happen if this dress shop runs out of a popular dress just before prom season?
2. Has this, or a similar situation ever happened to you?  What did you do?
3. Have you shopped at the store since that time?  If not, what might it take to get you back?

Class Project -

Read about the Six-Month Merchandise Plan (page 538-541) to work through the packet on buying calculations.

Extension - Researching Trade Shows

Many wholesale and retail buyers keep up with their markets by attending trade shows.  

• Choose a retail market in which you are interested and research trade shows aimed at that market.
• Create a list of 5 major trade shows from that industry scheduled in the next 18 months.
• Each trade show listing should include: 

1. The name of the trade show
2. a brief description of the show
3. the location of the next show
4. the date(s) for the next show

Reflection

Buyers need to understand their customers and the products they sell in order to make purchasing decisions.
How can the knowledge of a company's  customers and products improve a buyer's purchasing power?