USS Biz Trek Extension Activities
Lesson Four Galactic Espionage
Vocabulary
Competitor
Competition
Chamber of Commerce
Marketing
Journal Assignment
Can you prepare a marketing plan before choosing a target market?
Explain.
Class Discussion
- When there are many choices in the market place, why do customers demand
more from businesses? What examples can you think of?
- Why is it important to study your industry before developing your
business concept?
- Define the steps involved in conducting market research.
- When and where will you use the results of your market research?
- What are some factors that affect price?
- Your boss has asked that you calculate the price of tennis shoes your
company is planning to manufacture. Your cost to produce each pair of
shoes is $40. Your related overhead and projected profit are $15. If the
wholesaler’s markup is 50 percent of the cost and the retailer’s
markup is 100 percent of its cost, what is:
- The manufacturer’s price to the wholesaler?
- The wholesaler’s price to the retailer?
- The retailer’s price to the consumer?
Project
Have the students look for at least three examples of competition in
their community. Then have them draw a chart showing the similarities and
differences between the businesses involved.
Revised: March 02, 2005.
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