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MARK 160 CLASS FEEDBACK review
Review and Discuss Class ratings (see next slide)
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MARKETING 160 – MODULE 5 consumer Behaviour, Pricing and forecasting
With Duane Weaver Please organize yourself into your team tables Prepare for iRAT
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MODULE Five Consumer behaviour, pricing and forecasting
iRAT tRAT Write Appeals Team Exercise 1 – Consumer Behaviour Impacts on Consumption Team Exercise 2 – Pricing Strategies – Choosing the most appropriate BREAK Exercise 3 – Forecasting – estimating demand and profitability Exercise 4 – Forecasting Assignment – next steps – where to get data? REVIEW TERM TEST OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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i-RAT You will have 5 minutes to complete the 5 question individual Readiness Assessment Test OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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3:00 2:30 2:00 1:30 0:30 5:00 1:00 3:30 4:00 4:30 TIMES UP! i-RAT
OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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TIME IS UP! i-RAT OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1
REVIEW
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t-RAT Team readiness Assurance Test You will have 8 minutes
OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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Decremental Scoring of Team RAT
Remember time is limited! Right answer on: 1st try = 10 points 2nd try = 5 points 3rd try = 2 points 4th or 5th try = 0 points Don’t find the correct answer on the first try? Keep discussing and scratching to earn partial credit OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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3:00 2:30 2:00 1:30 0:30 5:00 1:00 3:30 4:00 4:30 TIMES UP! T-RAT
OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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TIME IS UP! T-RAT OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1
REVIEW
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Scoring your Team Rat Right answer on first try = 10 points
Right answer on second try = 5 points Right answer on third try = 2 points Right answer on fourth or fifth try = 0 points OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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Please enter tRAT scores on the sheet provided in your team folder
Keeping Track Please enter tRAT scores on the sheet provided in your team folder OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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TEAM SCORES? HOW DID YOUR TEAM DO? OUTLINE iRAT tRAT APPEALS BREAK
EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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10 minutes Appeals Process
You can appeal AS A TEAM any questions that you believe were misleading, unfair, or inaccurate. OPEN BOOK Appeal must be IN WRITING (see appeals forms in your folder) Include reasons and CITE EVIDENCE from the text to support your argument…OR… If your appeal is based on misleading language in the question, you must include ALTERNATE QUESTION WORDING. Appeals form in your folder OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE five Consumer behavior – impacts on consumption
EXERCISE 1: details in your team folder The final and critical element to your marketing plan includes a forecast of customers, product/service sales, revenues and costs. Looking at the list of Consumer Behaviour Characteristics and thinking about your team’s marketing plan, identify the ONE characteristics you feel will have the MOST impact on your market demand forecast and be prepared to provide 3 reasons why BE PREPARED TO REVEAL – you have 8 minutes OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE five Consumer behavior – impacts on consumption
EXERCISE 1: details in your team folder The final and critical element to your marketing plan includes a forecast of customers, product/service sales, revenues and costs. Looking at the list of Consumer Behaviour Characteristics and thinking about your team’s marketing plan, identify the TWO characteristics you feel will have the MOST impact on your market demand forecast and be prepared to provide 3 reasons why (write done a title for each reason)? BE PREPARED TO REVEAL – you have 8 minutes OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE five Consumer behavior – impacts on consumption
EXERCISE 1: details in your team folder The final and critical element to your marketing plan includes a forecast of customers, product/service sales, revenues and costs. Looking at the list of Consumer Behaviour Characteristics and thinking about your team’s marketing plan, identify the TWO characteristics you feel will have the MOST impact on your market demand forecast and be prepared to provide 3 reasons why (write done a title for each reason)? BE PREPARED TO REVEAL – you have 7 minutes OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE five Consumer behavior – impacts on consumption
EXERCISE 1: details in your team folder The final and critical element to your marketing plan includes a forecast of customers, product/service sales, revenues and costs. Looking at the list of Consumer Behaviour Characteristics and thinking about your team’s marketing plan, identify the ONE characteristics you feel will have the MOST impact on your market demand forecast and be prepared to provide 3 reasons why BE PREPARED TO REVEAL – you have 6 minutes OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE five Consumer behavior – impacts on consumption
EXERCISE 1: details in your team folder The final and critical element to your marketing plan includes a forecast of customers, product/service sales, revenues and costs. Looking at the list of Consumer Behaviour Characteristics and thinking about your team’s marketing plan, identify the ONE characteristics you feel will have the MOST impact on your market demand forecast and be prepared to provide 3 reasons why BE PREPARED TO REVEAL – you have 5 minutes OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE five Consumer behavior – impacts on consumption
EXERCISE 1: details in your team folder The final and critical element to your marketing plan includes a forecast of customers, product/service sales, revenues and costs. Looking at the list of Consumer Behaviour Characteristics and thinking about your team’s marketing plan, identify the ONE characteristics you feel will have the MOST impact on your market demand forecast and be prepared to provide 3 reasons why BE PREPARED TO REVEAL – you have 4 minutes OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE five Consumer behavior – impacts on consumption
EXERCISE 1: details in your team folder The final and critical element to your marketing plan includes a forecast of customers, product/service sales, revenues and costs. Looking at the list of Consumer Behaviour Characteristics and thinking about your team’s marketing plan, identify the ONE characteristics you feel will have the MOST impact on your market demand forecast and be prepared to provide 3 reasons why BE PREPARED TO REVEAL – you have 3 minutes OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE five Consumer behavior – impacts on consumption
EXERCISE 1: details in your team folder The final and critical element to your marketing plan includes a forecast of customers, product/service sales, revenues and costs. Looking at the list of Consumer Behaviour Characteristics and thinking about your team’s marketing plan, identify the ONE characteristics you feel will have the MOST impact on your market demand forecast and be prepared to provide 3 reasons why BE PREPARED TO REVEAL – you have 2 minutes OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE five Consumer behavior – impacts on consumption
EXERCISE 1: details in your team folder The final and critical element to your marketing plan includes a forecast of customers, product/service sales, revenues and costs. Looking at the list of Consumer Behaviour Characteristics and thinking about your team’s marketing plan, identify the ONE characteristics you feel will have the MOST impact on your market demand forecast and be prepared to provide 3 reasons why BE PREPARED TO REVEAL – you have 1 minutes OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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EXERCISE 1 Consumer behavior impact on demand
LET’s REVEAL OUR ANSWERS (A, B, C, D) on 3, 2, 1…. OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE FIVE EXERCISE 2 – Pricing Strategies
COMPLETE TEAM ACTIVITY: Selecting Pricing Strategies Follow the guidelines provided in your team folder for Exercise Two. Select the BEST pricing strategy to apply. Be Prepared to reveal in 6 minutes. OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE FIVE EXERCISE 2 – Pricing Strategies
COMPLETE TEAM ACTIVITY: Selecting Pricing Strategies Follow the guidelines provided your team folder for Exercise Two. You are to read the enclosed scenario. Select the BEST pricing strategy to apply. Be Prepared to reveal in 6 minutes. OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE FIVE EXERCISE 2 – Pricing Strategies
COMPLETE TEAM ACTIVITY: Selecting Pricing Strategies Follow the guidelines provided your team folder for Exercise Two. You are to read the enclosed scenario. Select the BEST pricing strategy to apply. Be Prepared to reveal in 5 minutes. OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE FIVE EXERCISE 2 – Pricing Strategies
COMPLETE TEAM ACTIVITY: Selecting Pricing Strategies Follow the guidelines provided your team folder for Exercise Two. You are to read the enclosed scenario. Select the BEST pricing strategy to apply. Be Prepared to reveal in 4 minutes. OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE FIVE EXERCISE 2 – Pricing Strategies
COMPLETE TEAM ACTIVITY: Selecting Pricing Strategies Follow the guidelines provided your team folder for Exercise Two. You are to read the enclosed scenario. Select the BEST pricing strategy to apply. Be Prepared to reveal in 3 minutes. OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE FIVE EXERCISE 2 – Pricing Strategies
COMPLETE TEAM ACTIVITY: Selecting Pricing Strategies Follow the guidelines provided your team folder for Exercise Two. You are to read the enclosed scenario. Select the BEST pricing strategy to apply. Be Prepared to reveal in 2 minutes. OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE FIVE EXERCISE 2 – Pricing Strategies
COMPLETE TEAM ACTIVITY: Selecting Pricing Strategies Follow the guidelines provided your team folder for Exercise Two. You are to read the enclosed scenario. Select the BEST pricing strategy to apply. Be Prepared to reveal in 1 minutes. OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE FIVE EXERCISE 2 – Pricing Strategies
COMPLETE TEAM ACTIVITY: Selecting Pricing Strategies Follow the guidelines provided your team folder for Exercise Two. You are to read the enclosed scenario. Select the BEST pricing strategy to apply. Be Prepared to reveal in 6 minutes. OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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MODULE FIVE EXERCISE 2 – Pricing Strategies
LET’s REVEAL OUR ANSWERS (A, B, C, D, E, F, G, H) on 3, 2, 1…. OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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BREAK TIME TODAY we will BREAK for 10 minutes OUTLINE iRAT tRAT
APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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EXERCISE 3 Forecasting: Estimating demand
COMPLETE TEAM ACTIVITY: Forecasting – Estimating Demand Use the graphs and data sets to select your target market Determine its size and predict its growth over the next three years Determine the value of the market opportunity using the sample spreadsheets provided. You will have 10 minutes to complete this exercise REVEAL your total market value over 3 years. OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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EXERCISE 4 Forecasting: Where to get data
COMPLETE TEAM ACTIVITY: Brainstorming Follow the exercise provided. Goal to create a list of data and data resources for the individual forecasting assignment Be prepared to share your answers with the class in 15 minutes. Remember to keep a copy of the list for your own use. OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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REVIEW LESSONS LEARNED TODAY
As a team…write down the most important lesson learned today You have 3 minutes OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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REVIEW LESSONS LEARNED TODAY
As a team…write down the most important lesson learned today You have 3 minutes OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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REVIEW LESSONS LEARNED TODAY
As a team…write down the most important lesson learned today You have 2 minutes OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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REVIEW LESSONS LEARNED TODAY
As a team…write down the most important lesson learned today You have 1 minutes OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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REVIEW LESSONS LEARNED TODAY
As a team…write down the most important lesson learned today REVEAL in 3, 2, 1 … OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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REVIEW Mid term remvew Please compare your answers to the answer key. (The scantron marks all questions indicating wrong answer). You will find comments within your written answers. Please RETURN YOUR MID TERM BEFORE YOU LEAVE to earn more than 0%. You may come and see me during my office hours to discuss as needed. OUTLINE iRAT tRAT APPEALS BREAK EXERCISE 1 EXERCISE 2 EXERCISE 3 EXERCISE 4 REVIEW
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