Section 5Planning Guide SheetsPage 5-101-102

Knowledge/
Skill Statement / Understands the concepts and processes needed to obtain, develop, maintain, and improve a product or service mix in response to market opportunities
Instructional Area / Product/Service Management
Performance Element /
Position venture/product to acquire desired business image.
Performance Indicator /
Choose venture/product name (PM:131)
Level /
Owner
SCANS /
Information 5-7; Systems 15; Basic Skills 1-2,5-6; Thinking Skills 7-9
21st Century Skills /
Creativity and Innovation 1; Critical Thinking and Problem Solving 2-3; Communication and Collaboration 1; Information Literacy 1
Objectives
/
a.Explain the significance of a business’s/product’s name.
b.Identify methods for selecting business/product names.
c.Describe characteristics frequently associated with successful business/ product names.
d.Explain legal considerations in business/product-name selection.
e.Demonstrate procedures for choosing a business/product name.
PerformanceActivity
/ Generate a listing of possible business/product names. Share the listing with a small-group of classmates to obtain their feedback on the names. Choose the name for your business/product, and write a rationale for your choice. Insert the listing, choice, and rationale into your VIP portfolio.
Resources
Textbooks
/ Allen, K.R. (2007). Growing and managing a small business: An entrepreneurial perspective (2nd ed.) [p. 291]. Boston: Houghton Mifflin Company.
Boone, G., & Kurtz, D.L. (2009). Contemporary marketing 2009 (pp. 384-386). Mason, OH: South-Western Cengage Learning.
Clark, B., Sobel, J., & Basteri, C.G. (2010). Marketing dynamics: Teacher’s edition (2nd ed.) [p. 263]. Tinley Park, IL: Goodheart-Willcox Company, Inc.
Farese, L. S., Kimbrell, G., & Woloszyk, C. A. (2009). Marketing essentials (p. 710). Woodland Hills, CA: Glencoe/McGraw-Hill.
Gartner, W.B., & Bellamy, M.G. (2009). Creating the enterprise (pp. 144-146). Mason, OH: Thomson South-Western.
Katz, J. & Green, R. (2011). Entrepreneurial small business (3rd ed.) [p. 579]. New York: McGraw-Hill Irwin.
Kuratko, D.F. (2009). Entrepreneurship:Theory, process, practice (8th ed.) [p. 358]. Mason, OH: Thomson South-Western.
Longenecker, J.G., Moore, C.W., Petty, J.W., & Palich, L.E. (2006). Small business management: An entrepreneurial emphasis (13th ed.) [pp. 314-315]. Mason, OH: Thomson South-Western.
Software/
Online
/ Brand Identity Guru. (n.d.). Brand name development. Retrieved April 20, 2011, from
Entrepreneur.com. (2011). How to name your business. Retrieved April 20, 2011, from
Moderandi Inc. (2006-2010). Naming. Retrieved April 20, 2011, from
Rocket Watcher. (2010, April 30). How to name your startup. Retrieved April 20, 2011, from
SBA.gov. (n.d.). How to name a business. Retrieved April 20, 2011, from
Trimble, S. (2008, January 8). 18 strategies and tools for naming your business or product. Retrieved April 20, 2011, from
Volkside. (2011, January 26). How to name your product, service, or startup.Retrieved April 20, 2011, from
WriteExpress. (1996-2011). Naming online. Retrieved April 20, 2011, from