types of goods. setup a powerpoint according to what is listed individual assignment identify &...

TYPES OF GOODS

• Setup a PowerPoint according to what is listed• Individual assignment

• Identify & Provide 2 Examples of each goods• Staple: Must Have’s• Convenience: Routine D.M.• Fashion: Trendy• Specialty: Rare• Shopping: Limited / Extensive D.M.• Seasonal: Time Sensitive

• Not Unsought & Industrial

VIRTUAL SHOPPING ASSIGNMENT

STAPLE GOODS: REPLACE IMMEDIATELY

Milk Eggs

CONVENIENT GOODS:ROUTINE DECISION-

MAKING

Snacks School Supplies

FASHION GOODS:TRENDY ITEMS

TOMSLIVESTRONG Bracelet

SEASONAL GOODS:TIME SENSITIVE GOODS

Peeps Swimsuits

SPECIALTY GOODS:RARE MUST HAVES

• Preference for particular store & brand

• Extremely rare items that requires you to go to great lengths to obtain• Rare Art• Designer Clothes• Exotic Perfumes• Limited Edition Cars

Ferrari

SHOPPING GOODS:LIMITED &/ OR EXTENSIVE

DECISION-MAKINGCustomers typically shop around for best version

•Items purchased usually require limited or extensive decision making

Washing Machine

PRODUCT LIFE CYCLE

INTRODUCTION PHASE• The iPad Air is in the

introduction phase

• Launched November 1, 2013• $499.99

• Focus will be on production & promotion

GROWTH STAGE

• Customers are aware of iPhone 5S• Focus is on making them happy

• Sales and production/distribution are increasing• Released in35 additional countries

last Friday• 16 more countries on 11/1/13

MATURITY STAGE• Competition is strong• Similar models in stores• Product is mass produced

• Product is not as popular but is still popular• WOW factor is gone

• Sales have slowed

• Price Drop

• Money is spent combating competition

DECLINE STAGE• Product starts to lose money

• Price drops to point it costs more to product

• Product may be liquidated

• Virtually no competition because no one wants product

PRODUCT MIXNike

• Nike owns the following brands• Nike Golf• Nike Pro• Nike+• Nike Skateboarding• Air Jordan• Converse• Hurley International

• NikeTown Retail Stores

NIKE EXAMPLE

• 4 Product Lines Examples• Converse (Brand)• Basketball (Sport)• Soccer (Sport)• Clothing (Apparel)

• Could’ve broken it down by:• Others Sports (baseball, football)• Hurley, Golf, Jordan• Activity (Running &

skateboarding)

NIKE PRODUCT MIX EXAMPLE

• Converse All Star Ox• $49.99

• Nike Club Swoosh Full Zip Hoodie• $39.99

• Nike Air Max 2013• $179.99

PRODUCT ITEMS

MARKETING

Product Packaging Scavenger Hunt

Promote & Sell Product: New Balance

Define Product Identity: Absolut

Meet Customer Needs:

Squirt Bottle

Ensure Safe Use:

Child Proof Medicine Bottle

Provide Information: ASUS Headphone

Protect the Product:

Egg Carton

Mixed Bundling Strategy: Bicardi &

Coke

Blisterpack: Jolt Gum

Environmentally Friendly: French Rabbit Wine

Cause Packaging: Tide

CUPCAKE CHALLENGE• Objective:• Plan, Promote, & Sell 24 Cupcakes

• Goal is to make the most profit possible

• Cupcakes will be sold at school event / Hawkapalooza

• Can be done with a partner

• Develop a Team Name

CUPCAKE CHALLENGE

• Step #1: Create a unique cupcake & name• Maybe easier to do after the fact

• Step #2: Choose a Grocery List• This will determine the total amount spent (COGS)• If using worksheet check line

• If doing in real life, just write down amount spent

• Step #3: Add up total grocery bill (COGS)

CUPCAKE CHALLENGE• Step #4: How will you promote the product• Must choose 1 of the 5 methods given____ 5 Large handmade posters ($9.00)____ 20 Computer-generated, colored copy posters ($14.00)____ 100 Computer-generated, colored copy fliers ($11.00)____ 12 Assorted balloons ($12.00)____ School bulletin, neighborhood blog, Facebook, Twitter (No

Charge)

• Step #5: Add up your total promotion cost

• Step #6: Add up Grocery Bill & Promotional Cost• Total Cost of Cupcakes

CUPCAKE CHALLENGE

• Step #7: Divide Amount from Step # 6 / 24• This is total cost per cupcake

• Example• Step # 6: $24.50

• Step # 7: 24.50 / 24 = $1.03 / Cupcake

• Step # 8: Skip this step• Although you may want to look at others in class

• Step # 9 & 10: Discuss & Determine how much to charge• Need to sell 24• Need to make a profit

CUPCAKE CHALLENGE• Step # 11: Subtract the cost from Step # 7 (Cost per Cupcake) from Step #

10 (Price / Cupcake)

• $3.00 - $1.03 = $1.97

• Step # 12: Multiple amount from #11 by 24• $1.97 * 24 = $47.28

CUPCAKE CHALLENGE

• Physically making the cupcake will result in 25 extra credit points

• If you do not make the cupcake you need to have an illustration of it• Computer or by hand is fine• We need to see whether or not it looks appealing