Successful Products

 

Learning Objectives

Students will understand the traits of a successful product.

 

Grade Levels

3-5

 

Standards

Aligned to Voluntary National Content Standards in Economics from the Council for Economic Education.

Standard 2: Decision Making Standard 14: Entrepreneurship

 

Materials Needed

Computers with internet for research

My Product sheets

 

Lesson

Introduction

  • An entrepreneur is someone who sees a financial opportunity and acts upon it. Entrepreneurs often start a business to fill a need that is not currently being met or met well.
  • Entrepreneurs create products that people need and want to buy. This is important to help people and to help our country make money.
     

Explicit Instruction/Teacher Modeling

  • Work with a partner to consider these questions:
  • Do you know someone who has started a business?
  • Have you ever thought about creating a product or improving one? What was your idea?
    • People create new products all the time, but not all of them become popular. The ones that do share these common traits:
      • It solves a problem.
      • It is special.
      • People will want/need it.
         

Guided Practice/Interactive Modeling

  • Partner the students.
  • Have them research the history of the “Pooper Scooper,” which is one of the best-selling pet items of all time.
  • They should be able to answer 3 questions about it: what problem does it solve? Why is it special? Will people want/need it and why?
  • When done, have students share things that dogs and dog owners want and need. List these on the board.
     

Independent Working Time

  • Have students work with their partner to create a product for dogs that would be successful. They should use the list on the board to help them.
  • The should also research popular dog products and their attributes here: Dog Products
  • They will fill out the “My Product” sheet and create a picture of their product.
     

Review and Closing

  • Allow students to share their products with the class.
  • Review the components of a successful product.
     

References

AKC Shop. (n.d.). Retrieved from https://shop.akc.org/?_ga=2.8781553.555470480.1500293649-1566314312.1497964074