Economics

1
Economics

• Group Project

2
Project parts

• Research
• Product Development
• Product Sales

3
Research Questions

• What is the desired product?
• Where am I going to get the resources to make my
  product?
• How much time will it take to make my product?
• What is my plan of action going to be? Steps
  from the step 1 through the completed product.
• Who is going to be my target group for sales and
  why?
• What are the key things that the group has
  learned about business?

4
Product Development

• In selecting a product make sure that you leave
  all your options open.
• You may have difficulty choosing a product at
  first.
• Come to agreement on the product.
• Keep the cost down to no more than 2.50 to make.
  Any more and you will have difficulty mass
  producing and selling the product.
• Keep an accurate account of all the meetings you
  have. You will often forget what you have
  decided if notes are not taken. Each group needs
  a secretary.

5
Product Sales

• Redefine who is your target sales group and why
  you have chosen this group.
• How are others going to know you have a product
  to sell?
• Word of mouth.
• Advertising through the newspaper, pennysaver,
  bulletin boards, etc. (Need to know the cost)
• Will you need to package the product?
• How will the product be delivered?

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Turned in AssignmentandClass Presentation

• Notes for all meetings.
• Notes for class presentation.
• Visuals to be used during class presentation.
• Written report (1) for project.
• What have you learned?
• What were the groups difficulties?
• What was the easiest part?
• What would you have done differently to make the
  project easier to complete?

7
Role of Group Members

• Secretary- takes notes at all meetings of the
  group.
• Presenter- speaks for the group / presents final
  project to thelecte class.
• Typist- types the final written portion of the
  project to be turned in to Mr. Fitz.

8
Visuals

• Poster
• Explain the process that your group went through
  to get to the finished product.
• Why did the group choose this particular product
  and pick this particular target group.
• Financial breakdown of the costs.
• Your poster may have 6 to 8 sections.
• Presentation is part of your grade. Make it look
  GREAT!

9
Timeline

• January 19- All parts of the project are due.
• January 20- Select dates for presentation.
• January 23- Class presentations.
• January 24- Class presentations.
• January 25- Class presentations.
• January 27- End of quarter.