Black Friday Retail Challenge- The Corner Store

• Price per Classroom
\$5 00
• Duration 1 Hour
• Activities 17

Lab Description

In this engaging activity, students take on the role of virtual department store managers tasked with determining optimal discounted prices for their six flagship products. The goal is to achieve a minimum extra profit of \$1000 during the Black Friday sale.

Key Learning Points:

• Understanding Demand-Profit curves
• Utilizing interactive sliders and graphs for price optimization
• Applying mathematical concepts to calculate total profit and percentage discounts

Activity Steps:

1. Students explore Demand-Profit curves to identify optimal discounted prices for each flagship product with the help of interactive graphs and sliders.
2. Applying mathematical concepts, students calculate total profit and percentage discounts for each product.
3. The simulation concludes with students comparing actual Black Friday sales results (slightly different from the expected) to expected outcomes.
4. As a reflective task, students write a letter to a friend who manages another department store, sharing insights on pricing strategies for maximizing profits in next year's Black Friday sale.

This activity is designed to enhance students' understanding of pricing strategies, mathematical applications in business, and the dynamics of Black Friday sales in a hands-on and interactive manner.

Who this course is for

The activity is very useful to teach basic business concepts for middle school, high school and college students.

NA

Set Up (52 Minutes)

Sub Activities
1. Review Questions
2. Current Prices & Profits
Sub Activities
1. Predicting Profit
Sub Activities
1. Air Fryer
2. Toaster Oven
3. Television
4. Cell Phone
5. Men's Winter Coat
6. Women's Winter Coat