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Students will explore buying a car as an alternative to taking the bus. They also learn to watch for sales that allow them to purchase goods for less. Tip 5: Marketing Matters Too Once you have your foundation set and made a small profit it is time to get more customers into your store. After completing the class, they quit their job as a cashier and take the new, higher-paying job. Hi all, just dropping by to let you know we'll be posting some videos with hints and a quick demonstration of how to manage some functions in the Virtual Business Challenge simulations. Students will be able to balance their checkbook against a recent bank statement. Use social media marketing to promote a fashion business. Canoe skills and safety knowledge *Tingjiao mangrove ecological tour and check-in time; Mashizhou Geopark Liandao Sandbank; Yangzhou looking for the mysterious black goat family; . Students will be able to analyze the cost of particular courses and determine how quickly an investment in education is likely to pay back. As MikesBikes progresses you will be offered numerous product development projects that will improve the product spec ratings of your products, if your product spec ratings are lower than your competitors it means that they are spending more money on product development than you are. (simulation exercises only) to 24 hours (simulation exercises, readings assignments, Choose your answer from the modals listed at the top of this page. Assess the connection between social media promotion and sales/revenues. Students are challenged to open a retail store in the best location for success. Students will understand how paying off overdue bills will improve their credit score. As students apply for a mortgage, they explore how down payments affect private mortgage insurance (PMI) and how points affect the interest rate paid. The fashion business is a tough business. Students will understand what a deductible is and how it relates to premiums. Here are Virtual Business Challenge Hints. MikesBikes Advanced Question of the Week: What happens if you invest in people and they leave? CHECK BACK EACH DAY THIS WEEK FOR MORE VIRTUAL BUSINESS CHALLENGE HINTS. Throughout the project, students consult the financial reports for their fashion business to determine what changes they should implement to increase their sales and profits.