Economic Wisdom For the Next Generation

Every time you enter a store you are surrounded by business. You probably haven't ever thought of shopping in terms of the business world. It is a good understanding of business that allows the "Gap", "Tommy Hilfiger" and "Disney" to be so successful. Employees of these companies think about advertising. They know what clothes you want to see when you first walk in the door and what music you want to hear when you are shopping.

Directions:

1. Plan a date with your mentor (or a friend) to go to your favorite mall or shopping area.
2. Copy the "scavenger Hunt List " provided in this activity and have it with you when you go hit the stores.
3. Have fun and hopefully you'll learn a few things.

Scavenger Hunt Activity List

1. Where do you like to shop?
   -Find your favorite stores. Why are these your favorite stores? What makes them different from other stores?
   -If you could talk to the owner of these stores what would you have them change?
   
   
2. Notice Company Logos
   -Which ones do you like?
   -How many logos do you recognize?
   
   
3. Compare Prices
   -Can you find two identical items priced differently?
   -Why does the store charge more/less for the same item?
   -When would you be more willing today more for an item?
   
   
4. Talk to an employee at your favorite store
   -What are their responsibilities?
   -How did they find out about the job?
   -What do they like? What would they change?
   
   
5. Start up Costs
   -Pick a business at the mall. What are the various costs you would incur if you were to start a similar business?
   -How much rent for retail space? Where would you need to go find this?
   
   
6. Advertising recall
   -Look around the mall or the street where you are shopping. Can you remember any television, radio, or print advertisements paid for by these stores?
   - What did you like about the ads? What do you think makes good advertisements?
   -Did you go into one of these stores as a result of these advertisements?
   
   
7. SALE! SALE! SALE!
   -How many stores are having sales of other sales promotions?
   -Why do stores have promotions?
   
   
8. "Thank you. Have a Nice Day"
   -If you buy something on this scavenger hunt, notice the customer service. How do the sales people treat you?
   
   
9. Target Market
   -Go back to some of your favorite stores. These are the stores where you will most likely see some of your friends because you are all part of the target market. What are some of the things these stores do to appeal to you? How are they decorated? What type of music do they play? Notice the sales people. What are they like?
   - Now visit one of your parent's favorite stores. What type of music is playing? Is the atmosphere different? How did the stores adapt to meet the needs of their target customers?
   
   
10. A Business of Your Own
    -If you were going to start a business in the mall area, what would it be?
    -What would make your business unique?
    -How much do you think it would cost to begin this business?