Marketing Mix: Product Development

Lesson Content

• Lesson Plan Template:

  CTE Lesson Plan

• CTE Course Info and Benchmark Notes

  
  

  Program Title: Business Management and Analysis

  Course Title: Business and Entrepreneurial Principles

  Course Number: 8215120

  Career Cluster: Business Management and Administration

  CIP Number: 0552070110

  Course Type: Career Preparatory

  CTE Standard(s) or Benchmarks:

  24.01 Employ critical thinking skills independently and in teams to solve problems and make decisions.

  30.05 Identify and describe examples of diverse marketing activities.

• Unit Outline

  
  

  This lesson is designed to be used with the case study, “Colossal Cookie Product Quest.” See CPALMS resource ID#209601.

• Career Connection

  
  

  This lesson supports product design and development skills, an essential competency for business entrepreneurs. Additional career building skills include critical thinking, problem solving, researching, analyzing, decision making, oral communication, presentations, and collaboration.

• Learning Objectives

  
  

  Students will be able to:

  • Define and describe the importance of product management to satisfy customer needs and wants.
  • Use critical thinking skills to develop a scalable and marketable product mix.
  • Explain how the marketing concept affects decisions regarding the product mix.
  • Deliver oral presentations to share ideas and findings about marketing activities and results.

• Prior Knowledge

  
  

  Students should be familiar with:

  • 4 Ps of marketing (marketing mix) concepts.
  • The concept of target market.
  • Conducting online research using a variety of sources.
  • Collaborating with team members.

• Guiding Questions

  
  
  • What should be considered when creating a successful product?
  • Why is product management important for businesses?

• Procedure

  
  

  1. To introduce the lesson, pose the following guiding question, using available technology: What should be considered when creating a successful product?

  • Ask students to brainstorm and share out.
  • Record student responses using available technology.
  • Assist and redirect students if any class responses are not related to product development.
  • Briefly introduce the key terms: product mix, marketing strategy, product management.
    • Have students complete a graphic organizer of key lesson terms.
    • Briefly review the concepts: 4 Ps of marketing (Product, Price, Place, and Promotion), also known as marketing mix, target market, product mix, marketing strategy.

  2. Distribute only the case study (it is suggested not to distribute Ella’s survey results at this time), Colossal Cookie Product Quest (see CPALMS Resource ID# 209601).

  • Provide students with sufficient time to read the case study.
  • Ask students to notate the case study with any of the concepts reviewed in Step 1.

  3. Ask students to form small teams and discuss the following questions:

  • Why is product management important for businesses?
  • What marketing strategies should Ella consider when developing her product mix?
  • What product features would satisfy Ella’s target market?
  • Ask teams to share out and record responses using available technology.

  4. Distribute Ella’s preliminary survey results from the case study, "Colossal Cookie Product Quest" (see CPALMS Resource ID# 209601).

  • Ask students to work in small teams to analyze market survey results and suggest three cookies for Ella’s product mix that are scalable (Lena can make) and marketable (customers will buy).

  5. Have students reference at least three reputable sources, such as textbook, Small Business Administration site ((https://www.sba.gov), and local chamber of commerce, to research current cookie flavor and texture trends, target market customer characteristics, and common ingredients used for cookies.

  • Ask students to record their suggestions and justifications and share on chart paper or digital posters. The students should include key details such as cookie market trends, target market customer characteristics, survey findings, recommendations for Ella's product mix, and marketing suggestions.

  6. Ask teams to display their posters around the room (or display using available technology).

  • Have teams orally present their choices and explain their cookie selections (product mix) for Ella’s business.
  • Students should be able to explain and cite how they used Ella’s market results to develop their cookie choices.
  • Students should discuss marketing suggestions for the product mix.

  7. To bring the lesson to a close, facilitate a class discussion on what cookies students would buy and why (real-life connection).

  • Have students vote on the three best cookies and collect student responses using available digital technology.
  • Facilitate a class discussion on the reasons they voted for certain cookies, such as market trends and target market characteristics.

• Teacher Notes

  
  
  • For the opening activity, it is recommended to write the guiding question on the white board or display on the screen using a projector, prior to the students’ arrival, to use as a bell-ringer activity to activate student learning.
  • It is recommended to present the 4 Ps of marketing (Product, Price, Place, Promotion), the marketing mix, and related concepts, such as target market, prior to this lesson, in order to facilitate instruction.
  • It is recommended to limit small group size to 3-4 students per team and quick-assign students using one of the team assignment methods, such as count off 1-8, then 1s become Team 1, 2s become Team 2, etc. This will increase heterogeneity of teams, resulting in varying abilities and contributions, thus encouraging creativity and quality of team outcomes.
  • Pacing
    • Step 1: 10 minutes
    • Step 2: 5 minutes
    • Step 3: 5 minutes
    • Step 4: 15-20 minutes
    • Step 5: 10 minutes
    • Step 6: 5 minutes

• Optional

  
  

  Formative Assessment Ideas:

  • Use the graphic organizer as a formative assessment of the key marketing concepts.
  • Utilize individual student and/or team share-out after reviewing the case study to assess sutudent's application of marketing strategies and product management to Ella's business.

  Summative Assessment Ideas:

  • Assess students' comprehension of product mix and marketing strategies by reviewing team posters with final product mix recommendations and justifications presented by each team.

  Extension Ideas:

  • Have students identify a target market for Ella’s business, create and distribute a market survey, analyze results, and create a revised product mix.
  • Invite a guest speaker to discuss the 4 Ps of marketing, product development, and product mix.