Lesson Notes By Weeks and Term - Senior Secondary School 1

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  4. Types of markets

Term: 2nd Term

Week: 3

Class: Senior Secondary School 1

Age: 15 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:      Marketing

Topic:-       Types of Market I

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

  1. List and explain the types of market

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures,

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S ACTIVITY

STEP 1

INTRODUCTION

The teacher reviews the previous lesson on the actions to be taken before marketing

Students pay attention

STEP 2

EXPLANATION

She discusses physical and virtual markets

Students pay attention and participates

STEP 3

DEMONSTRATION

She discusses auction and consumer markets

Students pay attention and participate

STEP 4

NOTE TAKING

The teacher writes a summarized note on the board

The students copy the note in their books

 

NOTE

TYPES OF MARKETS

  1. Physical Markets. Any physical market is a place where buyers and

sellers physically meet that involve both parties in a transaction in

exchange for money.  Few good examples are departmental stores,

shopping malls and retail stores

 

  1. Virtual Markets / Internet Markets. Today’s business environment such

type of markets are increasing on a fast track. It is a place where the seller

offers goods and services via online platform i.e. internet. Buyers and

sellers are not required to physically meet or interact. Examples are

Freelancer.com, Amazon.com.

 

  1. Auction Market. An auction market is a place where sellers and buyers

indicate the lowest and highest prices they are willing to exchange. This

exchange takes place when both the sellers and buyers agree on a price. A

good example is the New York Stock Exchange (NYSE), The Nigeria Stock

Exchange(NSE) etc

 

  1. Consumer Markets. This market type means the marketing of

consumer goods and services for personal and family consumption.

Consumer market examples are

  • fast moving consumer goods are ready to cock meals and newspaper, magazines etc.,
  • consumer durables goods are fridge, televisions, personal computers etc.,
  • soft goods are shoes and clothes and
  • services include hoteling, hairdressing, schools and colleges etc.

 

 

EVALUATION:    1. Explain

  1. Physical market
  2. virtual/internet market
  3. Auction market
  4. consumer market

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively