# Price Tips in Industrial Marketing by ifo13010

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Price Tips in Industrial Marketing document sample

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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,
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
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
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
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;
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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