Adam Cunningham
5/19/06
Consumer Edu. Per 2
Mrs. Hay
Bazaar Written Report

The Consumer Education Bazaar was a project like no other, and a staple
of my 8th grade education. It put me and the other students on the other side of
the consumer merchant relationship which I enjoy very much. I also enjoyed the
open parameters of the projects which made creativity a must . Although the
project was not graded upon the total sales and profit, the sales were based
upon what was graded, the business plan, calendar, inventory, etc. The project
showed that selling products, goods, or services does not work without strategic
plan. As I saw in selling my product, flaws in planning led to losing sales and
being ill-prepared in some aspects of the project itself, such as neglect items in
the process of transportation from my home to the Bazaar. In the initial planning
for the Bazaar in March, May 17th seemed very far away, but as work because
more strenuous, the months seemed to just pass me by. I felt my product was
very unique because nobody else seemed to make anything that related to the
concept of video yearbooks, or even incorporate the technology in their
products. Although there was a large amount of effort in collecting photographs
and coordinating the videos, it was all worth it in the end to seeing other
people’s interest in the product and the satisfaction in knowing my profits, no
matter how large or small, go towards helping others. The videos were similar to
written yearbooks but were in DVD form and did not include individual pictures
of every student, but many students were shown through candid photos in
various large in small school events. There was an emphasis on the departing
8th grade class especially in the dedication because there was great ease in
taking pictures when I was involved in the events, which usually included other
8th graders, such as Career Day, and the lock-in.
Through the ten product surveys that I distributed that asked about what
price was adequate for the Video Yearbooks and what components should be
included, I was able to determine the content and price. I used the average
price from each sheet and converted that into a suitable number, which turned
out to be five dollars. This may have been the set price, but as the Bazaar
progressed, I found myself selling for a low as $2.50. Even though the price
may have dropped by as much as 50% throughout he night, it was still profitable
seeing as each DVD costed about .61 cents to make. I believed the profits
would be much larger than they actually were, but $9.84 was acceptable. The
profit may have been larger, but I anticipated more sales but in actually I only
sold half of my inventory which was about 25 DVD’s. This is what made my
product sales successful. I was able to afford losing some sales and still turned
a profit because I sold a desirable product that was cheap to make. I also had a
computer at the Bazaar to show sample video yearbooks to potential buyers
which I also believe persuaded people to purchase my videos and made me
triumphant. The name of Memory Productions seemed fitting because it
displayed the main idea of my products, it as a video production that was
created to keep memories of Timberlane Regional Middle School.
If I were to do this project over again, I probably would have spent more
time on creating the product itself and less time on the paperwork. I also would
have followed the rubric more to ensure a desired grade in all aspects of the
project. Along with the rubric, I would have followed the business plan as
well because I found myself not completing the aspects of the project when I
had allotted to finish them, and scrambled to complete them on time. Location in
the gymnasium also proved to be a vital factor in selling products. I chose a
table in the back corner towards the door because I figured that people would
see my booth first because that would be the primary entrance, but the entrance
in the opposite corner was. This meant that by the time that people would get to
by table, they had already spent most or all of their money on other products. I
would have chosen a spot closer to the front entrance and placed more
extravagant and eye-catching signs and banners near the product. I have a
newfound respect for local businessmen and women because it is not all
glorified sales and making a profit, but there is much effort involved with
inventory and planning, which I have seen in these last two months through the
Bazaar. Because this process was so invigorating and joyful, I can now truthfully
see myself pursuing a career in business or buying and selling goods.