Lesson Notes By Weeks and Term - Senior Secondary 2

Marketing Cont'd

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TERM – 3RD TERM

WEEK TEN - ELEVEN

Class: Senior Secondary School 2

Age: 16 years

Duration: 40 minutes of 5 periods each

Date:

Subject: STORE KEEPING

Topic: MARKETING CONTD

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

I.) Highlight the factors to be considered in product price & tag.                                                           

II.) Distinguish between the term packaging & Branding                                          

III.) Develop a feasibility study for setting up a profitable business or a production unit                     

IV.) Creatively design a befitting package for their products.

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 describes the factors to be considered before fixing a product price and also compare packaging and branding.

Whole class discussion on the factors to be considered before fixing a product price                                 and discuss the difference between packaging & branding.                                                                                                                                 

STEP 2

EXPLANATION

Teacher guide students to develop a feasibility study of a business of his/her choice and then produce a befitting package for the product.

Students, in small groups, present a feasibility study of a said production or business setup (Group project) and come up with befitting packages for their products

STEP 3

NOTE TAKING

The teacher writes a summarized

note on the board

The students

copy the note in

their books

 

NOTE

MARKETING CONTD

Factors to Consider in Product Pricing and Tagging

  1. Cost of production: Including materials, labor, and overhead costs.
  2. Competition: Analyzing prices set by competitors in the market.
  3. Target market: Understanding the purchasing power and preferences of the target audience.
  4. Value proposition: Determining the perceived value of the product to customers.
  5. Positioning strategy: Deciding whether to position the product as a premium, mid-range, or budget option.
  6. Distribution channel: Considering the margins required for wholesalers, retailers, and other intermediaries.
  7. Economic conditions: Assessing inflation rates, currency fluctuations, and other macroeconomic factors.
  8. Legal and regulatory requirements: Ensuring compliance with pricing laws and regulations.

Packaging Vs Branding

Packaging refers to the physical container or wrapping of a product, designed to protect, contain, and present the product. It includes elements such as shape, size, material, and labeling.

Branding encompasses the overall image and identity of a product or company. It involves creating a distinct name, logo, design, and messaging to differentiate the product from competitors and evoke certain emotions or perceptions in consumers.

Feasibility Study for Setting Up a Profitable Business or Production Unit

The following should be considered while setting up a business or a production unit:

  1. Market analysis: Assessing the demand for the product or service, identifying target customers, and analyzing competitors.
  2. Financial projections: Estimating startup costs, ongoing expenses, revenue potential, and expected profits.
  3. Resource assessment: Evaluating the availability and cost of necessary resources, including labor, materials, and equipment.
  4. Regulatory compliance: Understanding legal and regulatory requirements related to licensing, permits, zoning, and industry standards.
  5. Risk assessment: Identifying potential risks and developing strategies to mitigate them, such as market fluctuations, supply chain disruptions, or changes in consumer preferences.
  6. Marketing strategy: Developing a plan to promote the business and attract customers, including branding, advertising, and sales channels.

Creative Package Design

In order to create a package design for any product what so ever, always put the following into consideration:

  1. Identify target audience: Understand the preferences and needs of the target market.
  2. Reflect brand identity: Ensure the packaging design aligns with the brand's image, values, and messaging.
  3. Stand out on shelves: Use distinctive colors, shapes, and graphics to catch the attention of consumers.
  4. Practicality: Design packaging that is functional, easy to use, and protects the product during transportation and storage.
  5. Sustainable materials: Consider using eco-friendly materials and minimizing packaging waste to appeal to environmentally conscious consumers.
  6. Incorporate storytelling: Use packaging to tell the story of the brand or product, creating an emotional connection with consumers.

EVALUATION: 1.Highlight the factors to be considered in product price & tag.     

  1. Differentiate between packaging and branding.
  2. Describe the factors to consider when designing a package for a product

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively