Check out this grade 8 entrepreneur's negotiating skills.
Company: Sock Pocket
- Fill in the Video Sheet as you watch the movie.We will discuss on Wed.
- Be prepared to present your Pricing assignment and hand in the Pricing Assignment on Wed.
Pricing Presentation: Present your 3 products. Let us know who your target market is. When presenting let us know the wholesale cost per item and the cost you will selling it for to the customer (retail cost), last explain your pricing strategy, and if you sell 100 of each of your products what your total profit will be. To determine your profit margin percentage use the following formula:
(revenue-costs) /revenue
Ms Akerley is in for me today and is a Math person, you may want to have her look over your math on the Pricing assignment.
- Continue to work on Lululemon assignment: needs to be completed by Friday. We will also discuss Lululemon on Wed as well.
VIDEO: SOCK POCKET
1. How old is this entrepreneur?
2. What is a prototype?
3. What is the wholesale cost of the product? What is she selling the product to the customer for?
4. The Sharks made an offer to be a partner in the company, and offered $30,000 for 33.3% of the company. But Sohie did a counter offer which was:
5. What new product does this company have coming soon?
6. What problem did Sophie solve?
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