1004. Name That Competition Activity

The “Name That Competition” activity is designed to help the student to become familiar with the 4 main types of competition. It’s a great assignment to support your discussion of competition.

RESOURCE INFORMATION

TIME

The estimated time to complete the assignment is 15 minutes.

 PRODUCT CONTENT

• Instructions
• 1 Handout
• Grading Key

MARKETING STANDARDS

TEKS

§130.384. Entrepreneurship

(24) The student knows the process of collecting marketing information to facilitate decision making. The student is expected to:

• (A) conduct a market analysis;
• (B) use appropriate technology to obtain information about the industry, customer, and competition; and
• (C) conduct an analysis of strengths, weaknesses, opportunities, and threats.

§130.386. Sports and Entertainment Marketing

(12) The student identifies the nature and scope of sports and entertainment marketing. The student is expected to:

• (G) explain the concept of competition for discretionary income.

(14) The student knows that private enterprise is based on independent decisions by businesses and limited government involvement. The student is expected to:

• (C) identify examples of competitive business situations such as price or nonprice competition.

§130.383. Fashion Marketing

(7) The student knows concepts and strategies used in determining and adjusting prices to maximize return and meet customers' perceptions of value. The student is expected to:

• (A) employ pricing strategies to determine prices;

(8) The student knows merchandising concepts and processes used in obtaining, developing, maintaining, and improving a product or service to respond to marketing opportunities. The student is expected to:

• (A) use assortment-mix strategies to create maximum mix of products at minimum cost;
• (B) perform buying activities to obtain products for resale;
• (C) analyze vendor performance to choose vendors and merchandise; and
• (D) position products and services to acquire a desired business image.

TERMS OF USE