Marketing 160 Module 5: Consumer Behavior, Pricing, and Forecasting Review
This presentation covers a review and discussion of class ratings, focusing on Module 5 topics such as consumer behavior impacts on consumption, pricing strategies, forecasting demand, and profitability assessment. Students engage in individual and team readiness assessments to test their comprehension and problem-solving skills within a time-limited environment. Incremental scoring methods are used to encourage active participation and discussion among team members for optimal learning outcomes.
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Presentation Transcript
MARK 160 CLASS FEEDBACK REVIEW Review and Discuss Class ratings (see next slide)
MARKETING 160 MODULE 5 CONSUMER BEHAVIOUR, PRICING AND FORECASTING With Duane Weaver Please organize yourself into your team tables Prepare for iRAT
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 REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
I-RAT You will have 5 minutes to complete the 5 question individual Readiness Assessment Test REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
I-RAT 5:00 4:30 4:00 3:30 2:30 2:00 1:30 1:00 0:30 3:00 TIMES UP! REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
I-RAT TIME IS UP! REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
T-RAT TEAM READINESS ASSURANCE TEST YOU WILL HAVE 8 MINUTES REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
DECREMENTAL SCORING OF TEAM RAT Remember time is limited! Right answer on: 1st try 2nd try 3rd try 4th or 5th try = 10 points = 5 points = 2 points = 0 points Don t find the correct answer on the first try? Keep discussing and scratching to earn partial credit REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
T-RAT 5:00 4:30 4:00 3:30 2:30 2:00 1:30 1:00 0:30 3:00 TIMES UP! REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
T-RAT TIME IS UP! REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
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 REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
KEEPING TRACK Please enter tRAT scores on the sheet provided in your team folder REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
HOW DID YOUR TEAM DO? TEAM SCORES? REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
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. REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
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 REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
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 REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
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 REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
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 REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
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 REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
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 REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
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 REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
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 REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
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 REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
EXERCISE 1 CONSUMER BEHAVIOR IMPACT ON DEMAND LET s REVEAL OUR ANSWERS (A, B, C, D) on 3, 2, 1 . REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
MODULE FIVE EXERCISE 2 PRICING STRATEGIES COMPLETE TEAM ACTIVITY: Selecting Pricing Strategies 1. Follow the guidelines provided in your team folder for Exercise Two. 2. Select the BEST pricing strategy to apply. 3. Be Prepared to reveal in 6 minutes. REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
MODULE FIVE EXERCISE 2 PRICING STRATEGIES COMPLETE TEAM ACTIVITY: Selecting Pricing Strategies 1. Follow the guidelines provided your team folder for Exercise Two. You are to read the enclosed scenario. 2. Select the BEST pricing strategy to apply. 3. Be Prepared to reveal in 6 minutes. REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
MODULE FIVE EXERCISE 2 PRICING STRATEGIES COMPLETE TEAM ACTIVITY: Selecting Pricing Strategies 1. Follow the guidelines provided your team folder for Exercise Two. You are to read the enclosed scenario. 2. Select the BEST pricing strategy to apply. 3. Be Prepared to reveal in 5 minutes. REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
MODULE FIVE EXERCISE 2 PRICING STRATEGIES COMPLETE TEAM ACTIVITY: Selecting Pricing Strategies 1. Follow the guidelines provided your team folder for Exercise Two. You are to read the enclosed scenario. 2. Select the BEST pricing strategy to apply. 3. Be Prepared to reveal in 4 minutes. REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
MODULE FIVE EXERCISE 2 PRICING STRATEGIES COMPLETE TEAM ACTIVITY: Selecting Pricing Strategies 1. Follow the guidelines provided your team folder for Exercise Two. You are to read the enclosed scenario. 2. Select the BEST pricing strategy to apply. 3. Be Prepared to reveal in 3 minutes. REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
MODULE FIVE EXERCISE 2 PRICING STRATEGIES COMPLETE TEAM ACTIVITY: Selecting Pricing Strategies 1. Follow the guidelines provided your team folder for Exercise Two. You are to read the enclosed scenario. 2. Select the BEST pricing strategy to apply. 3. Be Prepared to reveal in 2 minutes. REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
MODULE FIVE EXERCISE 2 PRICING STRATEGIES COMPLETE TEAM ACTIVITY: Selecting Pricing Strategies 1. Follow the guidelines provided your team folder for Exercise Two. You are to read the enclosed scenario. 2. Select the BEST pricing strategy to apply. 3. Be Prepared to reveal in 1 minutes. REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
MODULE FIVE EXERCISE 2 PRICING STRATEGIES COMPLETE TEAM ACTIVITY: Selecting Pricing Strategies 1. Follow the guidelines provided your team folder for Exercise Two. You are to read the enclosed scenario. 2. Select the BEST pricing strategy to apply. 3. Be Prepared to reveal in 6 minutes. REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
MODULE FIVE EXERCISE 2 PRICING STRATEGIES LET s REVEAL OUR ANSWERS (A, B, C, D, E, F, G, H) on 3, 2, 1 . REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
BREAK TIME TODAY we will BREAK for 10 minutes REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
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. REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
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. REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
REVIEW LESSONS LEARNED TODAY As a team write down the most important lesson learned today You have 3 minutes REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
REVIEW LESSONS LEARNED TODAY As a team write down the most important lesson learned today You have 3 minutes REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
REVIEW LESSONS LEARNED TODAY As a team write down the most important lesson learned today You have 2 minutes REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
REVIEW LESSONS LEARNED TODAY As a team write down the most important lesson learned today You have 1 minutes REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
REVIEW LESSONS LEARNED TODAY As a team write down the most important lesson learned today REVEALin 3, 2, 1 REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
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. REVIEW OUTLINE iRAT tRAT APPEALS EXERCISE 1 EXERCISE 4 EXERCISE 2 BREAK EXERCISE 3
