Summary
This project was inspired by the show “Shark Tank” in which entrepreneurs in the early stages of their company present their product to a group of investors. The focus of the lesson was to engage the students in a real world process while continuing to practice discount and percent change (SOL 8.3). Students collaborated to develop a product to “sell” to their classmates. They researched similar products on the market to select and justify their price point. They calculated their profit margin and the class held a virtual sale to sell their products. After analyzing the results of their sale, the groups developed a strategy of how they could improve their sales. They decided what their discount would be and created a commercial to advertise the sale. The class watched the commercials and calculated the new price of each product. We then held a second virtual sale to see if the discounted price help the teams sell more units of the product. They analyzed profit margins for the second sale and created a google presentation to present their findings.
TIPC Ratings
Developing – Students applied search techniques to find comparable products on the market to guide their business decisions.
Approaching – Students created a googledoc so they were all able to contribute ideas to the discussions. They established their own groups and norms for the group. On the last day they reflected on how they worked together and submitted a summary of their experiences detailing what they would do differently next time.
Ideal/Target – The students responded to difficult questions as they progressed through the project. They were asked to justify their price point and discount. Students used problem solving strategies to find the percent change as it related to percent change. The groups also utilized digital tools such as ActivInspire to create their graphs to analyze the results of the two sales.
Approaching – Students created commercials to advertise their product utilizing any tool of their choice. They were able to select the tool but most used powtunes.com or moviemaker. They expanded their creativity by selecting products that were trendy and marketable to their classmates. After the first sale they analyzed their prices and developed a plan to increase their revenue for the next sale.
Student Artifact
