Week May 4, 2015 – May 8, 2015 DECA NEWS: DECA Meeting MAY 14 th – OFFICER ELECTIONS! Be sure to attend! Are you ready for Relay for Life? Need more Community Service hours? Sign up to help at Some Gave All Motorcycle Rally at KGHS May 17! Sign up to host/hostess at the May 20 KG Business Appreciation Reception! Due This Week: Unit 8 Vocabulary & Assessments due FRIDAY Pricing Projects – presented & turned in on time UNIT 8 TEST DUE FRIDAY

 Early Work: What is Price?  Today’s Objective: Pricing Products and ServicesPricing Products and Services  Activities  Vocabulary Vocabulary  The Price is Right! – Dumbest ContestantDumbest Contestant  Your Turn! – 5 contestants please!  Unit 8 - Introduction  Chapter 25 – Price Planning – Notes & PP  Homework: Vocabulary & Assess due Friday! ☞ Point of the Day: Not all products are the same price at different locations. Never nag, razz, or criticize a teammate. Magic Monday Morning – Manners Moment

 Early Work: What are the three goals of pricing?  Today’s Objective: Pricing Products and ServicesPricing Products and Services  Activities  Vocabulary Vocabulary  Chapter 26 – Pricing Strategies –  Notes & PP  Airlines Activity  Homework: Vocabulary & Reviews due Friday! ☞ Point of the Day: The value a customer places on an item makes the difference in what they spend. Never expect favors. Tough Tuesday – Name that Company

 Early Work: What are the four key market factors that must be considered when reviewing and establishing prices?  Today’s Objective: Pricing Products and ServicesPricing Products and Services  Activities  Vocabulary Vocabulary  Chapter 27 – Pricing Math  Notes & PP  Profit Activity  Unit 8 Test – pass out – due by FRIDAY!! (you may use book)  Homework: Vocabulary & Reviews due Friday! ☞ Point of the Day: Price is an important factor in business success. Never make excuses. Wicked Work Wear Wednesday & Role Play Day!

 Early Work: Newspaper Day – The Free Lance Star What are the three strategies used for setting base prices?  Today’s Objective: Pricing Products and ServicesPricing Products and Services  Activities  Vocabulary Vocabulary  Pricing Merchandise Activity  Complete in class for presentation and discussion for tomorrow  Homework: TEST, Vocabulary & Assessments due Friday! ☞ Point of the Day: Price is involved in every marketing exchange. Never be selfish, jealous, envious, or egotistical Thundering Thursday – Share a Weird Fact today!

 Early Work: What are the six steps in determining prices?  Today’s Objective: Pricing Products and ServicesPricing Products and Services  Activities  Vocabulary & Assessments - Be sure these are all complete in your composition book along with the Journal! Vocabulary  Price PowerPoint Presentations and discussion  Be sure to print your PowerPoint 6 slides to a page and turn in for credit.  Journal – “When I make a purchase – this is how I will think of PRICE now…  Homework: None for the weekend! Enjoy! ☞ Point of the Day: Price gives you a return on investment – ROI! Never lose faith or patience. Foxes Friday - The Week’s Wrap-Up & Good News!

 Price  Return on investment (ROI)  Market share  Market position  Break-even point  Demand elasticity  Law of diminishing marginal utility  Price fixing  Price discrimination  Unit pricing  Loss leader  Markup  One-price policy  Flexible-price policy  Skimming pricing  Penetration pricing  Product mix pricing strategies  Price lining  Bundle pricing  Geographical pricing  Segmented pricing strategy  Psychological pricing  Prestige pricing  Everyday low prices (EDLP)  Promotional pricing  Gross Profit  Maintained Markup  Employee Discounts Assessments: Pg 599 – #2-9, Pg #2-9, Pg #2-9

 Pricing Products and Services  82 - Explain key factors in determining selling price.  83 - Explain the differences between pricing a good and a service. CTE Competencies Linked to SOLs

How much does it cost? Why does it cost that much? How do retailers arrive at selling price? How do manufactures determine how much to sell what they product for? These questions will be answered this week as we discuss another “P” PRICE!

 R-E-S-P-E-C-T EVERYTHING!!!  Your supplies – bring your stuff every-day! Bring your book every-day! Bring your notebook & composition book every- day! Bring pen/paper/thinking cap/open mind ever-day!  Place all bags on the floor under your table!  Wait for Teacher instruction before beginning activity!  Passes out of Class - No Exit First 10/Last 10  One person out of room at a time  Pass Board – USE IT!  Keep it short!  Stay in your seat until you are dismissed from class – the bell tells Teacher when class is over; Teacher then dismisses you.  No talking while Teacher or others have the floor.  Watch your language and mind your manners, please.  All School Rules will be followed without question.