This week was all about the 4 P's - product, place, price and promotion. We finished ordering the product, then discussed promotional strategies that we will be using for the group business. We heard about market research using big data to decide where our clients are located and ended out the week speaking about pricing strategies.
ClassE Schedule - 8-9:30 am
Location: Lifespan Ctr. (unless noted below)
11021 E. Cty. Rd. 800 N. Charleston (Loxa Road just NE of the hospital)
Sunday, 10/18 - 1 pm - Sugar Scrub Production
Mrs. Dau's House, 1250 Nursery Road
Monday, 10/19 - Press Releases and other promotional work. (Group Business Plans due - printed and compiled).
Tuesday 10/120 Wave Graphics Tour
With Doug Paulsen
320 N. Second St., Mattoon
Wednesday 10/21 - Selling at a Trade Show Booth
(speaker to be announced)
Thursday 10/22 - The Men Who Built America
Fri 10/23 - NO CLASS
Sugar Scrub Booth Set-up at the Mattoon Mall
Saturday 10/24 - Selling at the Mattoon Mall
Sunday 10/25 - Selling at the Mattoon Mall
A big thank you to our board for all the work they do behind the scenes to make ClassE a reality.
Front: Sarah Kramer, Alex Hagen, Joyce Madigan Back: Mike Shaffer, Ron Diepholz, Vince Walk, Tim Keefe and Nathan Meinhart. Not pictured: Lance Landeck, Jim Zimmer, Gary Philippi, Aaron Hale
Students ordered last minute packaging for the product and worked on their work schedules for the mall booth Oct. 23, 24 and 25th.
Dr. Mike Rudibaugh, faculty member at Lake Land College, discussed how to figure out "the place" part of business. He gave an example using ESRI Business Analyst on where Starbucks and Panera Bread restaurants are located.
Chris Swing, Chief Financial Officer for Vantage Outsourcing, helped the students decide the price of their product by using cost accounting principles. We also discussed the value that can be added to a product with proper branding.
Due to the increased enrollment, the class will meet at the Coles County Council on Aging LifeSpan Center for the entire year. We will still be touring businesses 2-3 days per week. Thank you LifeSpan for this great partnership.