Lesson Title – Pricing/Pricing Strategies #2 Course – Marketing I
Grade Level – 10-12
Author – K. McElreath
School – Smoky Hill
Length of Lesson – 95 minutes
CTE Academic Integration Lesson Planner
What do I want students to learn?
Standards and Benchmarks
National Marketing Standards
Standards and Benchmarks
ACT College Readiness Standards
*Explain the principles of supply and demand
*Explain the nature and scope of the pricing function
*Explain the factors affecting pricing decisions
* Identify clear cause and effect relationships in
uncomplicated passages. Reading 20-23
*Identify clear relationships between people, ideas, and
so on in uncomplicated passages. Reading 20-23
*Order simple sequences of events in uncomplicated
literary narratives. Reading 20-23
Students will:
Students will:
•Know: (Content and Vocabulary)
•Do: (Skills, Strategies, Processes and Literacy)
*Distinguish between a one-price and a flexible price
strategy.
* How to interpret a product life cycle, and how the
PLC impacts pricing decisions.
*The six steps used to determine prices.
*Vocabulary: markup pricing, cost-plus pricing,
skimming pricing, penetration pricing, product mix
pricing strategies, price lining, bundle pricing,
geographic pricing, segmented pricing strategy,
psychological pricing, prestige pricing, ELP,
promotional pricing.
*Explain the two polar pricing policies for introducing
a new product.
*Explain the relationship between pricing and the
product life cycle.
*Describe pricing strategies that adjust the base price.
*Explain the use of technology in the pricing function.
Enduring Understandings (Big Ideas)
For example… principles, themes, generalizations or macro-concepts
Students will gain an understanding of the complex strategy involved in setting the “right” price for a good or
service.
Essential Questions
Guiding, driving questions which lead to enduring understandings
How important is pricing to the ultimate success of a product?
Cost, Demand, or Competition…which is the most important consideration when deciding on a price?
How am I going to assess student learning?
Assessments: Formative assessments and/or Summative assessments
Formative
*Guided note taking, power point presentation
*Current Event/Article reading and writing activity
*Observation of groups
*Worksheet – vocabulary and reading check
Summative
Chapter quiz: Vocabulary matching, controlled response, multiple choice
Lesson Title – Pricing/Pricing Strategies #2 Course – Marketing I
Grade Level – 10-12
Author – K. McElreath
School – Smoky Hill
Length of Lesson – 95 minutes
Instructional Plan
Prerequisite Skills: Preparation
What prior knowledge, skills and understanding do the students need? How will you assess their background
knowledge and readiness?
Students will have discussed many of the topics that are relevant to this unit in courses like: US government,
Sociology, Psychology, Introduction to Business, and Mathematics. I will assess their background though
direct questioning, and general discussion.
Instruction and Activities:
What procedure (sequence), teaching strategies, and student activities are used in this lesson? State the student
roles, teacher roles, and grouping for this lesson.
Pricing Strategies
Cost-oriented pricing
Markup pricing
Cost plus pricing
Demand oriented pricing
Competition oriented pricing
Base Price/Price Range
Pricing Policy
One-price
Flexible price
Product life cycle
Skimming
Penetration
Product mix strategies
Price lining
Optional pricing
Captive product
By-product
Bundle pricing
Geographical pricing
International pricing
DECA prep, pricing http://glencoe.mcgraw-hill.com/sites/0078769043/student_view0/unit8/deca_prep.html /
Segmenting pricing strategies
Buyer identification
Product design
Purchase location
Time of purchase
Psychological pricing strategies
Odd-even
Prestige
Multiple unit
EDLP
Promotional pricing
Loss leader
Special event
Rebates and coupons
Steps in determining prices: objectives, costs, demand, competition, strategy, set price
Pricing Technology
Smart priceing
Communication
RFID
Figures On-line action http://glencoe.mcgraw-hill.com/sites/0078769043/student_view0/unit8/chapter26/figures_online_action.htm /
Lesson Title – Pricing/Pricing Strategies #2 Course – Marketing I
Grade Level – 10-12
Author – K. McElreath
School – Smoky Hill
Length of Lesson – 95 minutes
Academic Integration
What core academic topics are integrated? What terminology is common? What terminology is different?
Include specific examples to be used to introduce, teach, or review the topics.
Identify cause and effect relationships. Order sequences of events in uncomplicated passages. Identify clear
relationshipsl
Specific ACT Readiness Examples:
The ACT reading test contains at least one passage under the category of Social Studies, which includes business
and economics. The passages that fall under the heading of social studies typically present information gathered
by research. Including cause and effect relationships, comparisons, and sequences of events. These passages
could include specialized of technical language.
Materials Needed:
Textbook and computer lab
Learning Environment:
We have access to a computer lab/classroom daily. Potential for some lab work at local retail stores and malls.
Specific Teacher Web Resources:
See “Instructions and activities” section