I. Overview
- This module explains the second topic of 5-day marketplace literacy program: consumer literacy.
- Readings and videos before starting the module
- Readings
- Sample videos of teaching
- Activities and topics
- Lecture: 30 mins
- Consumer literacy: 30 mins
- Design Activity (Consumer literacy)
- Online Discussion 4
- Modification Homework (Consumer literacy)
- Lecture: 30 mins
II. Reading
Complete the readings before you start the lecture.
III. Lecture: Entrepreneurial Literacy
Watch the video below (running time: 5:02).
[ Key takeaways ]
1. Guiding concept
1. Guiding concept
- Mutually beneficial exchanges
2. Delivering value to customers just as receiving value as customers
- Ask participants what some principles are that they would follow in running a business
- Flipping the idea around getting value as a customer to creating value as an entrepreneur
- Work the notion of customer orientation through all topics
- Small group exercise
- Come up with business ideas
- Discussion of steps to take
- Discussion of customer needs, entrepreneur’s strengths and weaknesses, and competitor’s strengths and weaknesses
- Small group exercise
- Gather information by observing (people or marketplace) or by talking to people (potential customers or shopkeepers)
- Send participants out to the field and ask them to report back
- Analyzing what it means to be a customer
- Think aloud and discuss about how participants buy products
- Draw out the different steps in decision making when they buy a product
- Analyze the stages in the decision process and discuss what one can do as a business in terms of consumer decision.
- Small group exercise and presentation using sample products
- Select a good or service participants wish to sell in the market
- Design and develop rationale
- Present ingredients or product elements and benefits to bring customer orientation into product design
- Every ingredients or elements should be related to having benefits for the customers
7. Pricing - setting a price for the value proposition
- Pricing is not only about the cost but also about the value to the customers
- Assessing value as customers using examples (different priced products in terms of giving and getting)
- Understanding value tradeoffs
- Assessing value for sellers
- Sample product and complete assessment of costs and profits
- Sample product and complete assessment of costs and profits
- Value chain analysis for sample products and customer segments
- Analysis of methods for sample products and customer segments
- Relating promotional method to specific objectives (purpose of communication)
- Building awareness, interest, trial, etc.
- Building awareness, interest, trial, etc.
- Open-ended discussion of ethics
- Small group developing details for sample product
- Discussion and feedback
- Not just about customers and entrepreneurs, but about larger society
IV. Activity
Design Activity
Design an activity to enhance entrepreneurial literacy.
Provide details as to the various parts of the activity with the following format or a modified version.
- Overview of topic
- Instructions
- Activity
- Discussion and key questions
- Summary of insights
[Direction]
- Click the "Design Activity" button above
- Post your idea as a new posting
- You can upload your idea as a document
- Take a look other people's idea and reply to at least two of others
Online Discussion
Discuss how does the task enhance
- Know-how
- Know-why
- Click the "Online Discussion" button above. Post your thoughts.
- 200-300 words recommended
- Look at others' postings and reply to at least two of others.
Modification Homework
Evaluate each activity that is described to enhance consumer literacy and modify them to your context.
- Critique it
- How does the task enhance
- Know-how
- Know-why
- How does the task enhance
- Modify it for your setting. Provide details as to how you would implement it for the geography and people you are familiar with.
- Overview of topic
- Instructions
- Activity
- Discussion and key questions
- Summary of insights
- Click the "Modification Homework" button above
- Post your idea as a new posting
- You can upload your idea with a document
- Take a look other people's idea and reply to at least two of others