Marketing - Selling

We have finished all the course material for the year.  The last major topic we cover was Marketing.  As a class, we broke down each of the 4 P's of Marketing in detail; Product, Promotion, Place and Price.

Which P do you find the most interesting? Why? Describe some of the important business activities or decisions that need to be completed relating to your selected "P."

Looking back at the entire semester, consider all of the topics we have learned about. Perhaps look back at all of the questions you have answered on the blog. What topic was your favourite or did you understand the best?  Why?

Human Resources

During our discussion of Human Resources (HR), five HR key activities were outlined.  They were;

1. Recruiting Employees
2. Selecting Employees
3. Training and Developing Employees
4. Assessing Employees
5. Compensating Employees

After considering each of the five and their different components, which of the tasks is most important in order for a business to be successful. Select the one, explain it fully and why in your opinion it's the most important?

Types of Businesses in Canada

We have talked about the different forms of business ownership in Canada and discussed the industries those businesses participate in.  If you could start-up your own business, what type of venture would it be; a sole proprietorship, a partnership or a corporation?  Why do you prefer one type over the others?  Consider our discussion of industries; what industry would your business be a part of and why?

SMART consumer wrap up!

You just finished working on your culminating project for the year. Congratulations!  Tell me about what you learned.

1. What product did you do and why did you select it? What brands did you compare?
2. Based on your research, what brand should consumers buy? Why?
3. When buying this product, what is the most important piece of information to consider?
4. Any surprising findings or interesting conclusions?

Are you a SMART Consumer?

During the last two weeks we have talked about the products we buy and why we buy them. We have also discussed ways to saving money and make smarter purchases. Please answer the following questions to show your understanding of the lessons;

1. Name a brand or specific brand-name product you or your family always purchases over other competing products?  What is it about the product that makes it so much better?
2. Think of a time when you or your family used the ideas in the "When to Buy" lesson. What was the product(s), what money saving strategy was used (comparisons shopping, coupons and buying second hand), where was the product purchased? 

Fads, Trends and Niches.

To wrap up our class discussion of the PLC, we have learned about fads, trends and niche products.  

• What fad products do you remember or spent money on?
• Are there any trends you or your family are following?
• Do you or anyone you know have hobbies or interests that require specialized or niche products?

Product Life Cycle Key Terms

Over the last week we have introduced the concept of the Product Life Cycle.  The class discussion focused around some key terms;

• Invention
• Innovation
• Obsolete

Can you think of products or services in your home that are good example these terms?  Please include a brief explanation with each example to illustrate your understanding.

You and the economy - doing your part for Canada!

We have been having some excellent discussions about money and business over the last two weeks. Well done!  Recently, we discussed consumer spending and its importance to Canada's economy. Tell me about how your spending helps local businesses and contributes to the Canadian economy? Give examples of your spending.

All about money!!!

We are a month into the semester now and into our second unit.  We spent last week discussing money; why it is used, the role the government plays in issuing money and how it helps business "work."

Answer the following questions to illustrate and extend your understanding of our class discussions;

1. In class we had an excellent discussion about money and an item's value.  We noticed how a good or service's price is often different then its value to the potential customer. We also discussed how an item's value can differ between to consumers. Explain both of these observations using an example from your own experience.
2. Are you a spender or a saver?  Justify your answer with examples of your behavior.  If you're a saver; what are you saving for? If you are a spender; what are some item's you are constantly spending money on that prevent you from saving?

Maslow's Hierarchy of Needs

Over the past 3 classes we have been talking about Maslow's Hierarchy of Needs. Consumer behavior can be explained using the hierarchy to frame purchasing decisions. Answer the two questions below to illustrate your understanding of the hierarchy;

1. What level of Maslow's Hierarchy do you understand the best or makes the most sense to you? Explain your answer. 
2. Discuss 2 purchases you recently made and how they can be explained using Maslow's Hierarchy of Needs.  Select two that satisfy different levels of the Hierarchy.

Welcome to our class blog!!!

In this blog we will be discussing business concepts covered in class.

Here is how it will work in our class.  I will be post a question based on a concept we have worked with in class.  You will respond to the question by adding new information or giving your opinion.

Here we go;

1. Tell me a bit about yourself - Likes, dislikes, hobbies or perhaps your favorite activity?
2. How did  semester 1 d?  What courses did you ace and what course did you have difficulty with? 
3. What sort of activities and lessons do you like to do in class?

• Writing notes,
• Investigating or researching
• Skits and demonstrations
• Reading from the textbook
• Watching a video
• Listening to a podcast