This week our 5/6 mathematicians used market research to narrow down their idea pool for a food or beverage offering to sell as part of the “Build a Business” project. Ideas range from frozen yogurt to cookies to popcorn.  Our business owners used surveys, small focus groups and one-on one interviews to determine the preferences of their target customers.  We will compile the data next week and make final selections on the product each group will sell as well as calculate unit costs in order to help us determine a reasonable sales price for each item.  We also worked on a practice profit and loss statement, using costs and sales numbers for a candle shop.  See pictures of students conducting market research below!