Happy Tuesday! (I hope you enjoyed the long weekend!)

Here is the project for Chapter 1.

Chapter 1 Project

Either on your own or with a partner, you are going to use the information you learned in chapter 1 about supply and demand and factors that affect it (changes in tastes, expectation for future conditions, consumer income and population) to create a well-developed plan for the future. Please pick one of the scenarios below and follow the directions for that selection.

1. Personal Service

Scenario: More and more people are hiring personal assistants to help them plan and schedule their daily activities. Imagine that you wish to start a personal services business in one of the following areas: home-delivered meals, pet sitting, or party planning.

Assignment: Design a full page advertisement for the newspaper that introduces your business to the community and offers your/your group’s personal services.

2. Financial Advisor

Scenario: The percentage of the population that is retired or approaching retirement is growing rapidly. Because  most retired people live on fixed or limited incomes, this population shift has resulted in an increased demand for businesses that can offer advice and direction about saving, investing, and planning for retirement. Imagine that you/your group has just opened an investment-planning firm and you’ve arranged to speak at a senior’s luncheon to promote your new business.

Assignment: Write a one-page speech that will convince the consumers to try your service.

3. Trend Proof Styles

Scenario: With the population aging, consumers may be less likely to buy trendy clothes and accessories. In general, older consumers pay less attention to fashion trends and have a certain style of clothing that they prefer and want to purchase. Some experts have predicted that to succeed in the future, clothing retailers will need to pay more attention to the individual styles of their consumers (instead of looking to design houses to tell them that consumers want to wear).

Assignment: In a 1 page report, explain why you agree or disagree with this prediction.

Process:

·         Step 1: Decide if you are going to work on your own or with a partner

·         Step 2: Select a scenario

·         Step 3: Decide what type of business you are going to have for scenario 1 or what side of the debate you stand on for scenario 3

·         Step 4: Brainstorm your business name, services you offer, specifics of you company for scenario 1 and 2 or brainstorm your ideas for the report for scenario 3 (may use a graphic organizer to lay out your ideas

·         Step 5: Make a rough draft by sketching out your ad, writing up your speech or writing up your report.

·         Step 6: Edit and proof read for spelling errors or grammar errors. Maybe ask a friend (not your partner) to proof read for you. J

·         Step 7: Create the finished product

·         Step 8: Hand it in!

Total: 40 Marks