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Obj. 2.05 Grades and Standards

Marketing Obj 2.05 pp[1]

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  • 1. Obj. 2.05Grades and Standards
  • 2. Grades and Standards Why learn about Standards and Grades? How do Standards and Grades effect YOU?
  • 3. Grades and Standards What did you eat for Breakfast or Lunch?
  • 4. Grades and Standards How did Grades and Standards effect your food? Fresh Fruit Milk Inspected Eggs Quality Appearance and Condition
  • 5. Other Examples of How Companies Use Grades and Standards Specific tire sizes to fit our specific cars ALL childrens fever-reducing medicinecontains: same ingredients same doses (regardless of what brand it is)
  • 6. Other Examples of How Companies Use Grades and Standards Movies: Restaurants: Ratings Ratings Andys Rated: R Rated: 97.5
  • 7. What Are Grades and Standards? Grades: Ratings assigned to products that tell to what extent standards were met Standards: Specifications that are used as a basis for comparing or judging goods or services
  • 8. Grades and Standards What are some What do standards you have to being do to earn a used in good grade? your classes? A = Excellent!
  • 9. Grades and Standards These requirements now become your standards that the teacher uses as her evaluation tool Your work compared to standards = GRADE
  • 10. Grades and Standards How do Businesses use Grades and Standards? Standards are set Products are rated against standards and assigned a grade
  • 11. Grades and Standards What do businesses do with products that fail to meet lowest standards? Products are thrown away, revamped or sold at discounted prices
  • 12. Grades and Standards Why do we use grades and standards? To make sure products are reliable How to use a product correctly and safely Where certain products can be sold
  • 13. Grades and Standards Do you think the GAP will offer low grade clothes at their store? NO! What would the GAP do with these clothes? Sell at Outlet or Old Navy
  • 14. Grades and Standards How do Grades and Standards aid in the buying and selling process? Speeds things up! Consumers do not have to inspect. We know what products rank higher than others.
  • 15. Grades and Standards How are grades and standards important in a Global Market?By using certain requirements, products are known safe to use internationally.The standard is known as 1S0 9000
  • 16. Grades and Standards What groups develop grades and standards? Government Agencies: ex. food, medicines, fair advertising Professional Organizations: ex. Triple A, Rate Hotels Businesses
  • 17. Grades and Standards What are 4 types of standards that businesses use? 1. Quantity - ex. how much will be produced in 1 day 2. Quality 3. Time 4. Cost
  • 18. Grades and Standards Examples of Graded Products 1. Agricultural raw materials- like cotton 3. Food Products: a. USDA- Meat b. Dairy c. Fresh Produce d. Fish 3. Oil- Graded according to its thickness 4. Fuel- Graded according to its octane rating 5. Coal- Graded according to its carbon and sulphur content 6. Lumber- Hardwoods are graded according to size, quality, and type of wood
  • 19. Sources Marketing Essentials MBA-LAPS-PM-008-CS