Are you the next Alan Sugar? Creating your own business idea

Spotlight on Literacy! Types of Sentences Q1) Match up the following definitions of sentence types with the correct terms from the box. Two or more ideas joined together with ‘and’, ‘but’ or ‘or’. A sentence with two or more ideas not joined with ‘and’, ‘but’ or ‘or’ (often the ideas are linked with other words and/or commas. A sentence with one idea. Q2) Now write and example of a simple sentence, compound sentence and complex sentence. Simple sentence Compound sentence Complex sentence Government Island Deserted Democracy Parliament Queen Monarchy Opinion

Now…Let’s think... On your own, list all of the things you have bought in the last month, think about who those products are aimed at? =5mins

Learning Objectives UNIT TITLE: Unit 19: The Marketing Plan LESSON TITLE: Introduction to Marketing CRITERIA: P1 COMPETENCY FOCUS: Creativity (L3): Learner will develop their skills in creativity through the creation of a promotional campaign for a selected business which includes designing a suitable and effective logo and strapline.   Entrepreneurship (S4) : To develop your entrepreneurial skills in preparing a realistic proposal for a new business start-up. Learning Objectives By the end of the lesson, you should be able to… LO1) Define the term market segmentation (Gui) LO2) Describe how a business can segment the market to allow them to identify their target audience (Gui-Reg) LO3) Developing your entrepreneurial skills, evaluate how effective segmentation allows a business to promote their products successfully to the right customer base (Reg-Str).

I am able to develop my skills in creativity by designing and developing a product that will be innovative and original, and provide me with a competitive advantage. Competence level Descriptor Autonomous I can delve deeper into the impact of my product on the market. I can evaluate how successful the launch of my product will be through how well it applies to the marketing mix. I can then assess whether my product needs improving or re-designing. Advanced I can confidently assess whether my product is creative and innovative enough to meet the needs and wants of my target group of customers. I can evaluate my marketing mix to see if my product will help me to become a successful entrepreneur and make a profit. Strong I know who my customers are through market segmentation. I can then use appropriate marketing strategies through the creation of the marketing mix to market my product to my target group. Regular I know how the features and benefits of my new product will help me to assess who my target customers are, and also give me a competitive advantage over my rivals (unique selling point). Guided I understand the elements that make up a creative and innovative product.

Who is the business selling their products to? For each image, state who the business is selling their products to.

Marketing Concepts Marketing concepts are ideas and techniques used by businesses to help try to make customers aware of their products and to try to get them to buy them. These are: How buyers decide what to buy (Buyer decision-making process) What makes one product/service different from another (unique selling point) How different groups of customers can be targeted (segmentation) The marketing mix

Marketing Concepts Buyer Decision-Making Process Every time you buy something you go through a certain process, although you may not be aware of this happening. AIDA Model

Marketing Concepts AIDA Model Action Decision Information Attention Find a shop that sells the product or purchase immediately. Action You may decide to buy immediately or take time to think. Staff may influence your decision here through good sales pitches. Decision Finding out if the product will meet your needs/wants. I.e. reading label, asking staff etc Information You become aware of a product i.e. displays, striking packaging, adverts Attention

Marketing Concepts 2) Unique Selling Point (USP) A product has a USP when it has something different compared to its competitors. Can you think of any examples?

Marketing Concepts Market Segmentation “Breaking down a market into sub-groups with similar characteristics” (Hall et al, 2008,p.29) Imagine an orange...

PROCESS: MARKET RESEARCH (To find out who is interested in buying your product) MARKET SEGMENTATION (Break down market into sub-groups) TARGETING

Marketing Concepts Market Segmentation Types of Market Segmentation: B2B (Business 2 Business) B2C (Business 2 Customer) Age (demographically) Gender Culture Income Lifestyle/hobbies Location (geographically)

P1 Coursework Task Produce a presentation for the class, which provides details on the following:   What the business will do or sell? The benefits and features of your product/service How your business will be different from its competitors (its USP)? How might customers decide to buy your product (include in this the AIDA model!)? Who your customers will be? How will you segment your market? How you plan to target potential customers? (i.e. age, gender, lifestyle, social class etc) Where do you intend to sell your product? (locally/nationally/regionally)

Keyword Comprehension In the back of your exercise books, write down the meanings of the following keywords: Segmentation Target Market B2B B2C Unique Selling Point Buyer decision-making process