Complete your ‘Entry Card’?

Complete your ‘Entry Card’.

What do you already know about marketing? Can you think of any examples of marketing strategies?What is the difference between marketing and

advertising?How might marketing be used in businesses

effectively? [5mins]

SC1) Define the term ‘marketing’

A Definition of ‘Marketing’

"Marketing is the management process responsible for identifying, anticipating and

satisfying customer requirements profitably”.

[Chartered Institute of Marketing (CIM)]

A Definition of ‘Marketing’

"Marketing is the social process by which individuals and groups obtain what they need

and want through creating and exchanging products and value with others.”

[Kotler]

A Definition of ‘Marketing’

“Marketing is the activity, set of institutions, and processes for creating, communicating,

delivering, exchanging offerings that have value for customers, clients, partners and

society at large.”[American Marketing Association, 2007]

A Definition of ‘Marketing’

Now watch the following video clip.

http://ed.ted.com/featured/k0mEfvZO

How has this changed how you view marketing?

A Definition of ‘Marketing’

Using the 3 definitions and video clip, now write your own definition.

Write this on your post-it note, this will form a fundamental part of this topic.

Complete your ‘Entry Card’?

On your ‘Entry Card’, you have been given the ‘Learning Intention’ for today’s lesson.

Using this, write your own ‘Success Criteria’.

[5mins]SC1) Define the term ‘marketing’

TOPIC: Topic 4: Marketing LESSON TITLE: The Principles of MarketingLEARNING INTENTION: To understand what marketing is and how market share and volume is measured.

COMPETENCY FOCUS:Key Skills (Numeracy): Learners will use formula to calculate market share. Students will use this to make assumptions and interpretations on how well businesses are placed in the market. [IB Learner Profile Development: Reflector]

Success CriteriaBy the end of the lesson, I can…

1) Define the term ‘marketing’2) Describe how to analyse the market in terms of market share, market growth and market size3) Calculate market share from given information4) Examine how the market structure and the market share influences the marketing function.

SMSC: You will assess the organisational culture of businesses in terms of fundamental structure, purpose and strategy development.

CRITICAL THINKING KEY:

Knowledge Application Analysis Evaluation(AO1) (AO2) (AO3) (AO4)

Market Size

‘The total level of sales of all producers within a market’.

Can be measured in 2 ways:- Volume of sales (No of units sold)- Value of goods sold (sales revenue)

SC2) Describe how to analyse the market in terms of market share, market growth and market size

Market Size

‘The total level of sales of all producers within a market’.

Can be measured in 2 ways:- Volume of sales (No of units sold)- Value of goods sold (sales revenue)

SC2) Describe how to analyse the market in terms of market share, market growth and market size

Market Share

‘The percentage of one firm’s share of the total sales in the market’.

Calculated by:

Market Share (%) = Total sales of firm x100

Total market sales in time period

SC2) Describe how to analyse the market in terms of market share, market growth and market size

Example

Number of portions of fish & chips sold by Shop A

= 450

= 5000Total sold in the town per week

= 450/5000 x 1000 = 9%Market Share

Supermarket Shares

Waitrose4%

Morrisons12%

Sainsbury's17%

Asda18%

Tesco32%

Total Co-ops4%

Somerfield4%

Aldi3%

Lidl2%

Iceland2% Netto

1%

Farm Foods1%

If the sales value of total market is approx. £102.5 bn, work out the sales revenue of each supermarket.

Calculate the market share of company XYZ, ABC, PQR.

Questions A/B/C Only

[15mins]

Task

SC3) Calculate market share from given information

Market Growth

‘The percentage change in the total size of a market over a period of time’.

The rate of growth depends on : - Changes in consumer incomes- Development of new markets- Changes in consumer tastes- Technological changes

Market Growth

• Refers to an increase in sales in the total market

• E.g. the total confectionary market was worth £5.5 billion in 2001, having grown by 1% in 2000.

Calculating Market Growth

Market = Change in sales x 100Growth Total sales of previous year

E.g. 200,000 x 100 = 10% 2,000,000

Calculate the market growth for the whole industry.

Question D Only

[5mins]

Task

SC3) Calculate market share from given information

Case Study: British Cheeses

1) Read the case study2) Code the text using the key below:

3) Answer comprehension questions in full sentences paying close attention to the number of marks awarded.

___________ (underline) An important sentence

I understand this sentence/phrase

This will help me to answer a question

Directed Active Reading Strategies

Activities which encourage close readingThese activities are most effective when worked on by a pair or small group as the discussion of possibilities leads to a closer look at the text.

ClozeFilling the gap involves the reader in actively constructing meaning. Skills include: Paying close attention to the meaning of

the sentence. Choosing a word that fits grammatically. Using one’s existing knowledge of the

topic. Working out what is likely from the rest of

the text. Working out what will fit with the style of

the text – e.g. whether a word has already occurred in the sentence.

Attending to the sense of the whole sentence by reading and rereading.

 

SequencingSequencing activities involve reconstructing a text which has been cut into chunks.Skills include: Reading and rereading. Paying close attention to the

structure of the genre. Paying close attention to link words. Hunting for the logic or organising

principle of the text – e.g. chronological order.

Using previous experience and earlier reading.

  

Text MarkingText marking includes underlining, annotating or numbering the text to show sequence.Skills may well include: Skimming or scanning to

find specific information. Differentiating between

different categories of information.

Deciding what is relevant information.

Finding the main idea(s). Questioning the

information presented in the text.

Text RestructuringText restructuring involves reading and then remodelling the information in another format. For example, flow charts, diagrams, Venn diagrams, grids, lists, maps, charts, concept maps or rewriting in another genre. Depending on the format, skills used will include: Identifying what is key and relevant in a text. Applying what they know in a new context. Remodelling the content and the format of the

text. Awareness of the characteristics of different

genres. Critical reading. Summary and prioritisation. Writing as well as reading skills.  

Good Exam

Revision

Technique!

Self-reflection

Re-visit your ‘Entry Card’. Now complete the section titled ‘Exit Card’.

What do you now know about marketing and market analysis that you didn’t know before?