Price Tips in Industrial Marketing by ifo13010

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									                                              GASC, Flint MI, Genesee County
                                  MI Math Standards Alignment Crosswalk with Entrepreneur I
                                      Supplemental Documentation: Individual Lessons
                                                                                                                                   Page 1 of 6
Week   Marketing Performance Element,             Math Related Lesson Description                MI Math GLCE / HSCE
       or Measurement Criteria                                                                   HSCE/GLCE Description
11     Support Activities
       Process sales documentation                Students will perform activities that          N.FL.06.15 Solve applied problems that use the
                                                  include: Writing up a sales check, totaling    four operations with appropriate decimal
                                                  merchandise purchases, calculating sales       numbers. N.MR.06.13 Solve contextual problems
                                                  tax, calculating total amount due              involving percentages such as sales tax and tips.
14     PRICING
       Develop a foundational knowledge of
       pricing to understand its role in
       marketing.
       Explain the nature and scope of the        Students will perform activities or projects   HS:
       pricing function                           that require calculation of:                   A1.1.1.Evaluate expressions given values of the
                                                                                                 variables.
       Explain legal considerations for pricing   Market share                                   MS:
       Explain factors affecting pricing          Analyzing market share using graphs            N.FL.06.10 Add positive rational #’s fluently
       decisions                                  Equilibrium price (calculate by graphing)      A.RP.06.02 Plot ordered pairs of integers
                                                  Return on investment calculations              A.RP.06.08 Understand that relationships
                                                  Break even point calculations                  between quantities can be suggested by graphs
                                                  Mark up pricing                                and tables A.RP.06.1 Represent simple
                                                  Cost plus pricing                              relationships between quantities using graphs
                                                  Target pricing                                 A.FO.08.11 Estimate solutions by graphing
                                                  Price lining                                   N.FL.06.15 Solve applied problems that use the
                                                  Retail price                                   four operations with appropriate decimal numbers
                                                  Percentage markup                              N.FL.06.12 Calculate part of a # given the
                                                  Using cost method for determining retail       percentage of the # N.MR.06.13 Solve
                                                  price                                          contextual problems involving percentages such
                                                  Retail method for determining retail price     as sales tax and tips N.MR.08.08 Solve problems
                                                  Markdowns                                      involving percent increases and decreases.
                                                  Maintained markup                              N.FL.08.09 Solve problems involving
                                                  Industrial pricing                             compounded interest or multiple discounts.
                                                  Series discount                                N.FL.08.11 Solve problems involving ratio units
                                                  Promotional discounts                          such as $ / hr D.RE.07.01 Graphs: Represent &
                                            GASC, Flint MI, Genesee County
                                MI Math Standards Alignment Crosswalk with Entrepreneur I
                                    Supplemental Documentation: Individual Lessons
                                                                                                                                  Page 2 of 6
Week   Marketing Performance Element,           Math Related Lesson Description              MI Math GLCE / HSCE
       or Measurement Criteria                                                               HSCE/GLCE Description
                                                Cash discounts                               Interpret Data using circle graphs
                                                Employee discounts
17     MARKET PLANNING
       Employ      marketing-information to
       develop a marketing plan.
       Explain the concept of marketing Demographic analysis                                 MS:
       strategies                                                                            N.FL.06.12 Calculate part of a # given the
       Explain the concept of market and                                                     percentage of the # N.MR.08.10 Calculate
       market identification                                                                 weighted averages D.RE.07.01 Represent &
18     Identify market segments                                                              interpret data using circle graphs and histograms
       Select target market                                                                  HS:
                                                                                             S1.2.1 Calculate & interpret measures of centers
                                                                                             including: mean, median, mode. Explain uses,
                                                                                             advantages & disadvantages of each measure
                                                                                             given a particular set of data & its context. S.3.1.1
                                                                                             Know the meaning of a sample from a population
                                                                                             S1.1.1 Determine which kinds of plots are
                                                                                             appropriate for different types of data
20     PROMOTION
       Understands the concepts and             Exponential Growth Activity                  A2.5.2 Interpret symbolic forms & recognize
       strategies needed to                                                                  graphs of exponential functions
       communicate information about
       products, services, images, and/or
       ideas to achieve a desired outcome
       Explain the types of advertising media   Students will complete activity or project   HS:
       Describe word-of-mouth channels used     that covers:                                 S1.1.1 Interpret plots, etc; Compare data sets and
       to communicate with targeted audiences   Calculating and analyzing promotional        interpret differences based on graphs and
       Discuss direct marketing channels        budget                                       summary statistics
       Identify communications channels used    Figuring commissions                         MS:
       in sales promotion                       Advertising rate calculations                N.FL.06.15 Solve applied problems that use the
       Explain communications channels used     Evaluating media                             four operations with appropriate decimal
                                                GASC, Flint MI, Genesee County
                                    MI Math Standards Alignment Crosswalk with Entrepreneur I
                                        Supplemental Documentation: Individual Lessons
                                                                                                                                    Page 3 of 6
Week   Marketing Performance Element,             Math Related Lesson Description               MI Math GLCE / HSCE
       or Measurement Criteria                                                                  HSCE/GLCE Description
       in public-relations activities                                                           numbers.
                                                                                                N.FL.06.12 Calculate part of a # given the
                                                                                                percentage of the #
22     Understand marketing-research                                                            HS:
       activities to show command of their                                                      S.3.1.1 Know the meaning of a sample from a
       nature and scope.                                                                        population S3.1.2 Identify possible sources of
       Explain the nature of marketing research                                                 bias in data collection and sampling methods and
23     Explain types of primary marketing                                                       simple experiments; describe how such bieas can
       research                                                                                 be reduced and controlled by random sampling;
       Identify sources of primary and                                                          explain the impact of such bias on conclusions
       secondary data                                                                           made from analysis of the data; and know the
       Explain research techniques                                                              effect of replication on the precision of estimates.
       Determine the marketing-research                                                         S3.1.3 Distinguish between an observational
       problem/issue                                                                            study and an experimental study, and identify, in
24     Identify research approaches (e.g.,                                                      context, the conclusions that can be drawn from
       observation, survey, experiment)                                                         each. S.3.1.4 Design simple experiments or
                                                    Perform a market research project that
       appropriate to the research                                                              investigations to collect data to answer questions
                                                   involves the concepts listed to the right.
       problem                                                                                  of interest; interpret and present results. S3.1.5
       Identify information monitored for                                                       Understand methods of sampling, including
       marketing decision making                                                                random sampling, stratified sampling, and
       Describe data-collection methods (e.g.,                                                  convenience samples, and be able to determine, in
       observations, mail, telephone, Internet,                                                 context, the advantages and disadvantages of
       discussion                                                                               each. S1.1.1 Construct and interpret dot plots,
       groups, interviews, scanners)                                                            histograms, relative frequency histograms, bar
25     Conduct Market Research                                                                  graphs, basic control charts, and box plots with
                                                                                                appropriate labels and scales; determine which
                                                                                                kinds of plots are appropriate for different types
                                                                                                of data; compare data sets and interpret
                                                                                                differences based on graphs and summary
                                                                                                statistics. S1.2.1 Calculate & interpret measures
                                                                                                of centers including: mean, median, mode.
                                             GASC, Flint MI, Genesee County
                                 MI Math Standards Alignment Crosswalk with Entrepreneur I
                                     Supplemental Documentation: Individual Lessons
                                                                                                                                     Page 4 of 6
Week   Marketing Performance Element,             Math Related Lesson Description                MI Math GLCE / HSCE
       or Measurement Criteria                                                                   HSCE/GLCE Description
                                                                                                 Explain uses, advantages & disadvantages of each
                                                                                                 measure given a particular set of data & its
                                                                                                 context.
26     Interpret marketing information to test
       hypotheses and/or to resolve issues.
       Explain the use of descriptive statistics in This may be worked into the marketing        S.1.1.1 Construct and interpret dot plots,
       marketing decision making                    research project or contained within         histograms, relative frequency histograms, bar
                                                    another activity or worksheet                graphs, basic control charts, and box plots with
                                                                                                 appropriate labels and scales; determine which
                                                                                                 kinds of plots are appropriate for different types
                                                                                                 of data; compare data sets and interpret
                                                                                                 differences based on graphs and summary
                                                                                                 statistics. S.1.2.1 Calculate and interpret measures
                                                                                                 of center including: mean, median, and mode;
                                                                                                 explain uses, advantages and disadvantages of
                                                                                                 each measure give a particular set of data and its
                                                                                                 context.
       OPERATIONS
       Understands the processes and              Students will perform day to day store         MS:
       systems implemented to monitor, plan,      operation activities or classroom activities   A.FL.07.09 Estimate results of computations
       and control the day-to-day activities      that require the use of the math concepts      with rational #’s N.FL.06.15 Solve applied
       required for continued business            listed to the right.                           problems that use the four operations with
       functioning                                                                               appropriate A.RP.06.02 Plot ordered pairs
                                                                                                 decimal numbers. N.FL.06.14 For applied
                                                                                                 situations estimate the answers to calculations
                                                                                                 involving operations with rational numbers.
                                                                                                 HS:
                                                                                                 A1.1.1 Evaluate expressions given values of
                                                                                                 variables S1.1.1 Construct and interpret dot plots,
                                                                                                 histograms, relative frequency histograms, bar
                                                                                                 graphs, basic control charts, and box plots with
                                             GASC, Flint MI, Genesee County
                                 MI Math Standards Alignment Crosswalk with Entrepreneur I
                                     Supplemental Documentation: Individual Lessons
                                                                                                                                  Page 5 of 6
Week   Marketing Performance Element,          Math Related Lesson Description                MI Math GLCE / HSCE
       or Measurement Criteria                                                                HSCE/GLCE Description
                                                                                              appropriate labels and scales; determine which
                                                                                              kinds of plots are appropriate for different types
27     Place orders/reorders                   Students will fill out order forms. Students
                                               will calculate total costs of orders and
                                               make payments on orders.
       Maintain inventory of supplies          Students will practice inventory control
29     FINANCIAL ANALYSIS
       Explain the nature of financial needs   Students will develp a personal budget         N.FL.06.15 Solve applied problems that use the
       (e.g., college, retirement, wills,      considering future goals.                      four operations with appropriate decimal
       insurance, etc.)                                                                       numbers.
       Set financial goals
       Develop personal budget
       Manage personal finances to achieve
       financial goals.
30     Explain the nature of tax liabilities   Students will complete activities requiring    N.FL.06.15 Solve applied problems that use the
       Interpret a pay stub                    the calculations needed to:                    four operations with appropriate decimal
       Read and reconcile bank statements      Understand and interpret their pay stub        numbers.
       Maintain financial records              Calculate overtime pay
                                               Maintain financial records
                                               Reconcile bank statements
31     Demonstrate the wise use of credit      Students will complete an activity about       MS:
       Validate credit history                 using credit including:                        N.FL.06.15 Solve applied problems that use the
       Protect against identity theft          How to obtain credit                           four operations with appropriate decimal
                                               When to use credit                             numbers.
                                               Wise use of credit                             HS:
                                               Calculating credit rates/interest              A3.1.2 Adapt the general symbolic form of a
                                               How much does credit cost the consumer?        function to one that fits the specifications of a
                                                                                              given situation by using the information to
                                                                                              replace arbitrary constants with numbers (Interest
                                                                                              rate formula)
32     Prepare personal income tax forms                                                      N.FL.06.15 Solve applied problems that use the
                                       GASC, Flint MI, Genesee County
                           MI Math Standards Alignment Crosswalk with Entrepreneur I
                               Supplemental Documentation: Individual Lessons
                                                                                                             Page 6 of 6
Week   Marketing Performance Element,   Math Related Lesson Description    MI Math GLCE / HSCE
       or Measurement Criteria                                             HSCE/GLCE Description
                                                                           four operations with appropriate decimal
                                                                           numbers.

								
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