Mason, OH: Thomson South-Western. Nickels, W.G., McHugh, J.M., McHugh, S.M. (2008). Understanding business (8th ed.) [p. 150]. New York: McGraw-Hill. Software/ Online Demmert, H., & Klein, D.B. (2004, February 28). Experiment on entrepreneurial discovery: An attempt to demonstrate the conjecture of Hayek and Kirzner. Retrieved April 11, 2011, from Eckhardt, J.T. & Shane, S.A. (2003). Opportunities and entrepreneurship. Retrieved April 11, 2011, from Leithner, C. (2004, December 15). Entrepreneurship and intelligent investing. Retrieved April 11, 2011, from Mitchell, R.K. (1998-2003). New combination. Retrieved April 11, 2011, from Murphy, P.J. (2004). A logic for entrepreneurial discovery. Retrieved April 11, 2011, from Puhakka,V. (2007, March). Effects of opportunity discovery strategies of entrepreneurs on performance of new ventures. Retrieved April 11, 2011, from
Rubric: Conducting an Environmental Scan Criteria Professional Experienced Developing Novice Content The information contained in and communicated by the environmental scan 60 points Gathered sufficient/current information from a variety of reliable sources. Gathered adequate/mostly current information, but sources were somewhat limited. Gathered information, but much of it was outdated, and not all sources were reliable. Gathered poor quality information. Correctly identified relevant, accurate economic information, referencing specific ways this information could impact business. With few exceptions, correctly identified relevant, accurate economic information, referencing fairly specific ways this information could impact business. Often omitted relevant, accurate economic information or included unimportant information; s/he had trouble referencing ways this information could impact business. Was not able to identify relevant, accurate economic information. Correctly identified relevant, accurate legal information, referencing specific ways this information could impact business. With few exceptions, correctly identified relevant, accurate legal information, referencing fairly specific ways this information could impact business. Often omitted relevant, accurate legal information or included unimportant information; s/he had trouble referencing ways this information could impact business. Was not able to identify relevant, accurate legal information. Correctly identified relevant, accurate social and cultural information, referencing specific ways this information could impact business. With few exceptions, correctly identified relevant, accurate social and cultural information, referencing fairly specific ways this information could impact business. Often omitted relevant, accurate social and cultural information or included unimportant information; s/he had trouble referencing ways this information could impact business. Was not able to identify relevant, accurate social and cultural information. Correctly identified relevant, accurate global information, referencing specific ways this information could impact business. With few exceptions, correctly identified relevant, accurate global information, referencing fairly specific ways this information could impact business. Often omitted relevant, global information or included unimportant had trouble referencing ways this information could impact business. Was not able to identify relevant, accurate global information. rate
Correctly identified relevant, accurate technological information, referencing ways this information could impact business. With few exceptions, correctly identified relevant, accurate technological information, referencing fairly specific ways this information could impact business. Often omitted relevant, accurate technological information or included unimportant information; s/he had trouble referencing ways this information could impact business. Was not able to identify relevant, accurate technological information. Communication Skills The ability to express oneself so as to be understood by others 25 points Information was clear and easy to understand. Information was clear with only a few items being difficult to understand. Information was not clear and took much effort to understand. Information was too vague to understand. Completed environmental scan was neat, grammatically correct, and error-free. Completed environmental scan was neat but contained minor errors. Completed environmental scan contained spelling and grammatical errors that were distracting. Completed environmental scan was messy, with many errors in spelling and grammar. Organization The way in which the information is put together 15 points Environmental scan components were clearly identified. Environmental scan components were identified, but not always clearly. Environmental scan components were identified, but not clearly. Environmental scan components were not identified at all. Information presented was logical and easy to follow. Information presented was generally logical and easy to follow. Information presented was sometimes difficult to follow. Information was difficult to follow and illogical. Supporting documentation was complete and clearly labeled. Supporting documentation was clearly labeled, but some items were missing. Some supporting documentation was missing, and some was inaccurately labeled. Supporting documentation was not provided.
Knowledge/ Skill Statement Understands the concepts and processes needed to obtain, develop, maintain, and improve a product or service mix in response to market opportunities Instructional Area Product/Service Management Performance Element Position venture/product to acquire desired business image. Performance Indicator Identify company’s unique selling proposition (PM:272) 4.07 Level Manager SCANS Information 5, 7; Systems 15; Basic Skills 1-2,5-6; Thinking Skills 7-8 21st Century Skills Creativity and Innovation 2; Critical Thinking and Problem Solving 1-5; Communication and Collaboration 1; Information Literacy 1 Objectives a. Explain the purpose of a business’s Unique Selling Proposition (USP). b. Discuss the importance of always fulfilling a business’s USP. c. List questions to ask to facilitate creation of a business’s USP. d. Explain ways that a business can integrate its USP into its marketing efforts. e. Demonstrate procedures for identifying a business’s USP. Performance Activity Identify two local businesses that sell the same or similar products to those you plan to sell/provide. Determine how your business is different/unique from the two businesses. Create a USP for your business, and identify ways that you can incorporate it into your marketing efforts. Participate in a activity to discuss your USP with classmates. Insert the USP and your ideas for incorporating it into your marketing efforts into your VIP portfolio. Resources LAPs Marketing Education Resource Center. (2008). Stand Out (Unique Selling Proposition) [LAP: PM-016]. Columbus, OH: Author. Marketing Education Resource Center. (2008). Stand Out (Unique Selling Proposition): Instructor copy [LAP: Columbus, OH: Author. Textbooks Boone, G., & Kurtz, D.L. (2009). Contemporary marketing 2009 (p. 300). Mason, OH: South-Western Cengage Learning. Kotler, P., & Armstrong, G. (2008). Principles of marketing (12th ed.) [p. 207]. Upper Saddle River, NJ: Prentice-Hall.
Rubric: Promotional Plan Criteria Professional Experienced Developing Novice All needed calculations were computed accurately. Minor errors in calculation did not affect the plan’s usefulness. Calculation errors forced minor adjustments in the entire plan. Calculations contained so many errors that the plan was not useful. The evaluation plan clearly defined needed measurements and milestones. Evaluation plan identified measurements and milestones but did not describe them fully. Evaluation plan identified vague or insufficient measurements and milestones that would make it difficult to evaluate the promotional plan in action. No evaluation plan was included. Appropriateness Suitability, compatibility of one part of the plan with all the others 40 points Timeline was realistic. Timeline for implementation was slightly loose/tight. Timeline for implementation was too tight to give proper attention to activities or so loose activities seemed unconnected. Timeline was far too short/ long for reasonable completion of activities, and objectives and strategies were obscure, unchallenging, unreachable, or too loosely related to be effective. Objectives were clear, measurable, challenging, and reachable. Objectives were clear, challenging, and measurable, but difficult to reach. Objectives were stated in measurable terms. Objectives were unclear and not stated in measurable terms. Realistic objectives, strategies, and tactics related to and supported the mission and each other. Realistic objectives, strategies, and tactics were loosely linked to the mission statement and each other. Objectives, strategies, and tactics were related to each other, but not to the mission statement. Objectives, strategies, and tactics were too vague to be useful and unrelated to the mission statement.
Rubric: Promotional Plan Criteria Professional Experienced Developing Novice Resources needed to communicate with the targeted audience were reasonable, realistic, and appropriately allocated to strategies and media. Resources needed to communicate with the targeted audience were reasonable, and appropriately allocated to strategies but not to media. Resources needed to communicate with targeted audience seemed under/over estimated with random allocation to strategies and media. Resources needed to communicate with targeted audience were grossly over/under estimated, with no allocation to strategies or media. Budget was presented in proper format and complete detail. Minor errors in budget format and detail did not affect the total package. Errors in budget format and detail could potentially cause serious budgetary problems. Budget was difficult to follow due to format and lack of adequate detail. Selected mix, media, and media vehicles were appropriate for reaching target market and for achieving promotional objectives. Selected mix, media, and media vehicles were appropriate for reaching large parts of the targeted audience and achieving most promotional objectives. Selected mix, media, and media vehicles severely limited reaching the targeted market or achieving promotional objectives. Selected mix, media, and media vehicles were unable to achieve promotional objectives or reach the targeted market. Promotional tactics supported marketing objectives and were desirable and realistic in relation to the budget. Promotional tactics marketing objectives and were desirable and realistic if there were no unforeseen expenses. Promotional tactics did not support the marketing objectives or would far exceed the budget. Promotional tactics were omitted or were not in line with the budget. Selected promotional activities aligned with and reinforced the company’s image. Some selected promotional activities aligned with the company’s image. Selected promotional activities did not relate to the company’s image. Selected promotional activities created an image at odds with desired image.
Rubric: Marketing Plan Criteria Professional Experienced Developing Novice Content The information communicated by the marketing plan 40 points All components of plan were complete and in writing. All elements of the plan were addressed in writing, but some aspects needed further description. Most of the plan’s elements were in writing; the missing elements diminished the plan’s effectiveness. Many of the plan’s components lacked sufficient detail to take action or were missing. A clear, comprehensive description of the target market was supported by rationale for its selection. A clear description of the target market was provided but not supported by rationale for its selection. Description of the target market was difficult to follow/understand. Description of the target market was too sketchy/vague to be useful. Complete, relevant information about strengths, weaknesses, opportunities, and threats was provided. Most relevant strengths, weaknesses, opportunities, and threats were clearly identified. Sketchy information was provided about strengths, weaknesses, opportunities, and threats. Obvious and strengths, weaknesses, opportunities, and threats were omitted from the plan. Reasonable, clear product, price, place, and promotion strategies were provided for each market segment. Appropriate, but wordy, product, price, place, and promotion strategies were provided for each market segment. Vague, but appropriate, product, price, place, and promotion strategies were provided for each market segment. Product, price, place, and promotion strategies for many market segments lacked sufficient detail, were unrealistic, or missing. Resources needed for each strategy were clearly identified. Most resources were clearly identified. Some critical resources needed for implementation were not listed. Resources needed to implement each strategy were too incomplete to be useful or were missing altogether. Activities to implement each strategy clearly identified who, what, where, and how. Activities to implement each strategy were listed but not described fully. Implementation activities were missing for a few strategies. Activities to implement strategies were too vague/sketchy to guide implementation or were not included.
Rubric: Marketing Plan Criteria Professional Experienced Developing Novice All needed calculations were computed accurately. Minor errors in calculation did not affect the plan’s usefulness. Calculation errors forced minor adjustments to the plan. Calculations contained so many errors that the plan was not useful. Evaluation plan clearly defined measurements and milestones. Evaluation plan identified measurements and milestones but did not describe them fully. Evaluation plan identified vague or insufficient measurements and milestones that would make it difficult to evaluate the marketing plan in action. No evaluation plan was included. Appropriateness Suitability; compatibility of one part of the plan with all other parts 30 points Budget figures were realistic for implementing and achieving goals. Errors in budget figures did not limit implementing and achieving goals. Budget figures had to be reworked to implement and achieve goals. Dollar amount of budget was unspecified or was unrealistic for implementing and achieving goals. Goals/objectives were clear, measurable, challenging, and reachable. Goals/objectives were clear, challenging, measurable, but difficult to reach. Goals/objectives were stated in measurable terms. Goals/objectives were unclear and not stated in measurable terms. Realistic goals/objectives, strategies, and tactics related to and supported the mission statement and each other. Realistic goals/objectives, strategies, and tactics were presented that were loosely linked to the mission statement and each other. Goals/objectives, strategies, and tactics were presented, and their relationship to the mission statement and each other could only be projected. Sketchy or loose goals/objectives, strategies, and tactics seemed unrelated to the mission statement or each other. The number of goals was realistic so that strategies and resources could be focused on their achievement. The number of goals was high/low, but did not diminish the effectiveness of the total plan. The number of goals was high/low enough to diminish the plan’s effectiveness. The plan included too many goals to be achievable, or too few to be effective.
Rubric: Marketing Plan Criteria Professional Experienced Developing Novice Target market was large enough to support projected sales. Target market was large enough to support projected sales if everything went according to plan. Size of target market allowed for absolutely no unforeseen problems. Target market was too small to support projected sales. Clearly stated evaluation plan provided accurate measurement of the marketing plan. Clearly stated evaluation plan provided a general measurement of the marketing plan. Loosely stated evaluation plan indicated how the effectiveness of the marketing plan would be measured. Evaluation plan was too vague to be useful. Timeline for implementation was realistic. Timeline for implementation was slightly loose/tight. Timeline for implementation was too tight to give proper attention to activities or so loose activities seemed unconnected. Timeline for implementation of plan was totally unreasonable. Sales forecast was realistically projected. Sales forecast seemed slightly ambitious/conservative. Sales forecast seemed quite ambitious/conservative. Sales forecast seemed unreasonable in view of the target markets and pricing strategies. Communication Ability to express oneself so as to be understood by others 15 points Ideas were expressed clearly in language that was easy to understand. Ideas were expressed clearly with only a few words being difficult to understand. Both ideas and words required much effort to understand. Ideas were vague and elusive, and language was difficult to understand. Accurate visual aids, including charts and graphs, supported, focused, clarified, and reinforced information given. Accurate visual aids, including charts and graphs, added some support to the information given. Visual aids, including charts and graphs, were related to information given but did not clarify or reinforce it. Visual aids, including charts and graphs, detracted from presentation and raised many questions.
Rubric: Marketing Plan Criteria Professional Experienced Developing Novice Plan was neat, grammatically correct, and error-free. Plan was neat but contained minor errors that did not detract from total plan. Plan contained slight smudges, blurred letters, and grammatical errors that were distracting. Plan was messy, with many errors in spelling and grammar. Organization How the information is put together; the flow of the marketing plan 15 points Main points were easy to follow and logical with points building on each other. Main points were generally easy to follow and logical. Main points were logical but difficult to follow. Main points were so difficult to follow that their logic could not be determined, or they were illogical. Sections were clearly identified, and material was easily located. Sections were clearly identified and only a few items were difficult to locate. Some sections were not identified, and several items were difficult to locate. Sections ran together or were not identified, and material was difficult to locate. Supporting documentation was complete and clearly labeled. Supporting documentation was clearly labeled, but some items were missing. Some supporting documentation was missing, and some was inaccurately labeled. Supporting documentation was not provided.