Lesson: competition Starter 5 mins Multi-choice question Quick placing of A, B, C - restaurant Intro Introduce the factors which a business needs to consider referring to pages 20-21 The story – p.20 Activity 1 10 mins Learning about the competitiveness factors Numbers 1-5 round table – read understand and feedback round table – why is that factor important? Class feedback Activity 2 Brief Encounter Outline task Activity 3 25 mins Work on the strategy Activity 4 15 mins Present back to the class Activity 5 Writing Activity 6 Homework – to research yellow pages and internet to find three companies which do something similar to your business Plenary Review the five factors
to be able to explain a business idea to an audience A market map shows.... Where a business is located Where a product is positioned Where the market segments go shopping Which roads customers have to use to get to the business to plan a new business venture while recognizing the influence of competitors
A B C This could be a market map for restaurants to plan a new business venture while recognizing the influence of competitors
This could be a market map for restaurants to plan a new business venture while recognizing the influence of competitors
p.20-21 Competition Price Quality & Design Brand image to plan a new business venture while recognizing the influence of competitors Competition Quality & Design Selling experience After-sales service Price Brand image p.20-21 to plan a new business venture while recognizing the influence of competitors
p.20-21 Competition Price Quality & Design Brand image to plan a new business venture while recognizing the influence of competitors Q. Why is each factor important in staying competitive? Competition Quality & Design Selling experience After-sales service Price Brand image p.20-21 to plan a new business venture while recognizing the influence of competitors
You are trying to establish a new business in the Brief Encounter You are trying to establish a new business in the male underwear market. The name you have come up with is Brief Encounter. Your product range includes five basic styles. to plan a new business venture while recognizing the influence of competitors
Brief Encounter The product range to plan a new business venture while recognizing the influence of competitors
to plan a new business venture while recognizing the influence of competitors
Your marketing strategy Identify and describe the market segments who might be interested in each style. Think about your competitors [all the other businesses selling products similar to yours] and decide how you will position yourself in this market. Depending on the position you are aiming for you need to make decisions on: Quality Selling experience After-sales service Price Brand image Decide on how you will try and establish your brand in the market [logo, catch-phrase, publicity...] to plan a new business venture while recognizing the influence of competitors
Market segmentation Who are the target customers for each product in your range? to plan a new business venture while recognizing the influence of competitors
to plan a new business venture while recognizing the influence of competitors
Competition To stay competitive, a business will aim to match or beat competitors on..... [now describe what these factors mean and why they are important] Competition Quality & Design Selling experience After-sales service Price Brand image to plan a new business venture while recognizing the influence of competitors
Your business To be able to describe what a business does Suppliers Competitors £ Your business £ Homework To find at least three competitors to your business Customers to plan a new business venture while recognizing the influence of competitors
p.20-21 Competition Price Quality & Design Brand image to plan a new business venture while recognizing the influence of competitors Competition Quality & Design Selling experience After-sales service Price Brand image p.20-21 to plan a new business venture while recognizing the influence of competitors