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Market Analysis - Lesson Plan: flexible timing
A series of 'off the shelf' lesson plans and resources for use in the classroom. This lesson deals with Market Analysis and is relevant to the following specifications:
- AQA: Module 1; 10.1
- Edexcel: Unit 2, section 1 and 3
- OCR: Module 2872
Aim:
This lesson serves as an introduction to the marketing function of a business and seeks to cover a range of factors relating to market analysis. The lesson begins with an introduction to the notion of market analysis via the use of the PowerPoint Presentation and the Mind Map. This provides the background to the key terms introduced, which students will be further investigating later in the lesson. The students are then directed to Biz/ed's Business Profiles, where they are given a structure to analyse the market for one of the companies. Students can select a company of their own choice.
The questions serve as the guide to the analysis: some answers will be easily available through the relevant Business Profile or through the company Web site; other questions will prompt students to spend more time thinking through the implications of the information they have read.
Learning Objectives:
At the end of the lesson, students should understand the following:
- The meaning of the marketing function
- How markets are broken down by businesses to help target their activities more successfully
- The meaning of the term 'market positioning'
- The meaning of the term 'market segment', appreciating its diversity
- How a business can target a market segment or combination of segments and apply this knowledge to a specified business case
- How the market structure and the market share influences the marketing function
Resources:
Lesson Structure:
- Introduce the issue of marketing by asking students what they think marketing is - many will possibly refer to 'advertising'. Consider the responses and discuss the outcomes - arrive at a definition of 'marketing'. (The process whereby a business seeks to identify and assess the needs of its customers and find ways of meeting those needs profitably.)
- Use the PowerPoint Presentation to identify the main point in market analysis - the process whereby a business seeks to understand the market/s it is operating in and to assess how this information can help it to address customers needs more effectively.
- Outline the task using the Activity and stress the learning outcomes of the Activity.
- Monitor students' progression through the Activity
- Discuss the results that students have come up with. Draw comparisons and contrast with the different companies and the different market structures they are operating in.
- Reinforce the learning objectives by doing a short question and answer session or get students to write short sentence answers to the learning objectives above.
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