Free Enterprise Institute

he goal of the W. W. “Foots” Clements Free Enterprise Institute is to teach young people about the free enterprise economic system. Free enterprise can be defined as “the freedom of individuals and businesses to operate and compete with a minimum of government interference or regulation.” More practically, it is the opportunity for someone to invent something new, start his own business, create her own company, and to see ventures succeed or fall on their own.

 

Since its inception in 1997, the Free Enterprise Institute has hosted thousands of students from all parts of Texas in our programs, Advertising and Marketing Kid Style, Create a Soft Drink, and Biz-Smart. In the Advertising and Marketing Kid Style day-long program, students use the soft drink industry as a model in which they create a new product, develop a name, logo, slogan, label, and a commercial—to understand the basic steps entrepreneurs take on the road to success.

The program begins with a tour of the Dr Pepper Museum. From a recreation of Dr. Wade Morrison’s Old Corner Drug Store to the bottling room of the old Artesian Manufacturing and Bottling Company (which later was renamed “The Dr Pepper Company”), students learn how soft drinks were created, manufactured, and marketed. After the tour, the rest of the morning is spent exploring the history of advertising from the town criers of old through advertising on hand-held devices. Students also take a close look at what makes an effective slogan and logo, and of course there are some Dr Pepper television commercials!

The afternoon portion of the program is very much hands-on. Students work in teams to create three experimental soft drinks, one of which they choose to “sell” to the “public.” (More on this later.) Once they commit to a formula, students must decide on a name, create a logo and slogan, design a label, and plan and act out a commercial.

 

For more information about the Free Enterprise Institute click here to visit their website!