TYPES OF GOODS. Setup a PowerPoint according to what is listed Individual assignment Identify &...
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Transcript of TYPES OF GOODS. Setup a PowerPoint according to what is listed Individual assignment Identify &...
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TYPES OF GOODS
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• 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
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STAPLE GOODS: REPLACE IMMEDIATELY
Milk Eggs
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CONVENIENT GOODS:ROUTINE DECISION-
MAKING
Snacks School Supplies
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FASHION GOODS:TRENDY ITEMS
TOMSLIVESTRONG Bracelet
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SEASONAL GOODS:TIME SENSITIVE GOODS
Peeps Swimsuits
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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
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SHOPPING GOODS:LIMITED &/ OR EXTENSIVE
DECISION-MAKINGCustomers typically shop around for best version
•Items purchased usually require limited or extensive decision making
Washing Machine
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PRODUCT LIFE CYCLE
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INTRODUCTION PHASE• The iPad Air is in the
introduction phase
• Launched November 1, 2013• $499.99
• Focus will be on production & promotion
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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
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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
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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
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PRODUCT MIXNike
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• Nike owns the following brands• Nike Golf• Nike Pro• Nike+• Nike Skateboarding• Air Jordan• Converse• Hurley International
• NikeTown Retail Stores
NIKE EXAMPLE
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• 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
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• Converse All Star Ox• $49.99
• Nike Club Swoosh Full Zip Hoodie• $39.99
• Nike Air Max 2013• $179.99
PRODUCT ITEMS
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MARKETING
Product Packaging Scavenger Hunt
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Promote & Sell Product: New Balance
Define Product Identity: Absolut
Meet Customer Needs:
Squirt Bottle
Ensure Safe Use:
Child Proof Medicine Bottle
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Provide Information: ASUS Headphone
Protect the Product:
Egg Carton
Mixed Bundling Strategy: Bicardi &
Coke
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Blisterpack: Jolt Gum
Environmentally Friendly: French Rabbit Wine
Cause Packaging: Tide
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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
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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)
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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
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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
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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
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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