Year 10 Week 16 Lessons Overview

Lesson 1: Marketing Strategy

Objectives

• Justify appropriate marketing strategies in various situations.
• Identify and explain the impact of legal controls on marketing.
• Explore opportunities and problems of entering new markets abroad.
• Understand benefits and limitations of methods to overcome market entry problems.

Key Concepts

• Marketing Strategy: A plan of action for promoting and selling products or services.
• Legal Controls: Regulations that affect how products can be marketed.
• New Market Entry: Challenges and solutions when expanding into foreign markets.

Activities

• Complete exam-style questions 2 a-e (p211).
• Importance of researching your market is emphasized.

Lesson 2: Importance of Marketing Objectives

Key Question

• Why is it important for a company to have a clear marketing objective?

Lesson 3: Business Plan Fundamentals

Definition

• Business Plan: An outline of your business, market operations, and how it intends to make money. It answers: why will your business succeed?

Components of a Business Plan

• Pitching the business and selling oneself as an entrepreneur.
• Defining products and services.
• Identifying customers and conducting market research.
• Marketing strategies, competitor analysis, and operations logistics.
• Pricing strategy and financial forecasting.
• Back-up planning.

Business Enterprise Competition

• Week 0: Complete Business Plan to receive seed fund (300 MYR).
• Week 1: Start trading and ensure receipts are collected for accounts/bookkeeping.
• Week 2-3: Submit weekly accounts on time.
• Week 4: Final week (only 2 days), Evaluation submission.

Tasks and Activities

• Collect HW 16; distribute HW 17.
• Complete market research questionnaire.
• Collect business plan (necessary for loan approval).
• Review market research results and business plan, collect money by Friday.

Helpful Resources

• Refer to the Prince's Trust website for business plan tools and resources: Business Plan Resource