Complete your Entry Card Complete your Entry Card

Complete your ‘Entry Card’? Complete your ‘Entry Card’. ü What do you already know about marketing? ü Can you think of any examples of marketing strategies? ü What is the difference between marketing and advertising? ü How might marketing be used in businesses effectively? [5 mins] SC 1) 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/k 0 m. Efv. ZO 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’. [5 mins] SC 1) Define the term ‘marketing’

TOPIC: Topic 4: Marketing LESSON TITLE: The Principles of Marketing LEARNING 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 Criteria By the end of the lesson, I can… 1) 2) 3) 4) Define the term ‘marketing’ Describe how to analyse the market in terms of market share, market growth and market size Calculate market share from given information 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 (AO 1) Application (AO 2) Analysis (AO 3) Evaluation (AO 4)

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) SC 2) 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) SC 2) 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 x 100 Total market sales in time period SC 2) 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 Total sold in the town per week = 5000 Market Share = 450/5000 x 1000 = 9%

Supermarket Shares If the sales value of total market is approx. £ 102. 5 bn, work out the sales revenue of each supermarket.

Task Calculate the market share of company XYZ, ABC, PQR. Questions A/B/C Only [15 mins] SC 3) 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 100 Growth Total sales of previous year E. g. 200, 000 2, 000 x 100 = 10%

Task Calculate the market growth for the whole industry. Question D Only [5 mins] SC 3) Calculate market share from given information

Case Study: British Cheeses 1) Read the case study 2) Code the text using the key below: ______ (underline) An important sentence I understand this sentence/phrase This will help me to answer a question 3) Answer comprehension questions in full sentences paying close attention to the number of marks awarded.

Directed Active Reading Strategies Activities which encourage close reading These 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. Sequencing 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. Go attention to link words. Paying close od R Hunting for the or organising principle e Te v Elogic x isi chronological am of the text order. ch – e. g. o n n Using previous iq experience and earlier ue reading. ! Text Marking Text 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. Cloze Filling 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. Text Restructuring Text 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.

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?