Lesson Notes By Weeks and Term - Senior Secondary 2

TERM – 3^RD TERM

WEEK TEN

Class: Senior Secondary School 2

Age: 16 years

Duration: 40 minutes of 5 periods each

Date:

Subject: TOURISM

Topic: MARKETING CONTD

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

1. Highlight the factors to be considered in product price tag;
2. Distinguish between the term packaging & Branding;
3. Develop a feasibility study for setting up a profitable business or a production unit;                         
4. 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

NOTE

MARKETING

Factors to be Considered in Product Price Tag:

1. Cost of Goods Sold (COGS): This includes the direct costs associated with producing or acquiring the product, such as materials, labor, and overhead expenses.
2. Market Demand: Understanding the demand for the product in the target market is crucial. Factors like consumer preferences, buying behavior, and willingness to pay should be analyzed.
3. Competitor Pricing: Researching and analyzing the prices set by competitors for similar products helps in setting a competitive price that attracts customers while ensuring profitability.
4. Value Perception: Consider how customers perceive the value of the product compared to its price. This perception can be influenced by factors like quality, brand reputation, and unique features.
5. Profit Margin: Determine the desired profit margin for the product, taking into account both short-term profitability and long-term sustainability.

Distinguishing between Packaging and Branding

Packaging refers to the physical materials used to contain, protect, and present a product. It includes elements such as bottles, boxes, labels, and wrappers. Packaging serves practical purposes like product protection and transportation, as well as aesthetic purposes in attracting consumers and communicating brand identity.

Branding, on the other hand, encompasses the overall identity and image associated with a product or company. It goes beyond the physical appearance of the product and includes elements such as the brand name, logo, messaging, and values. Branding shapes consumers' perceptions, emotions, and experiences with the product, ultimately influencing their purchasing decisions and loyalty.

Developing a Feasibility Study for Setting up a Profitable Business or Production Unit

A feasibility study for a profitable business or production unit typically includes the following components:

1. Market Analysis: Research the target market, including size, demographics, trends, and competition. Identify potential customers and their needs, preferences, and purchasing behavior.
2. Technical Feasibility: Evaluate the technical requirements and resources needed to establish and operate the business or production unit, including equipment, technology, and facilities.
3. Financial Feasibility: Estimate the initial investment required to start the business, as well as ongoing operational costs and revenue projections. Conduct a thorough financial analysis, including cash flow forecasts, break-even analysis, and return on investment (ROI) calculations.
4. Legal and Regulatory Considerations: Identify any legal and regulatory requirements relevant to the industry, such as permits, licenses, zoning regulations, and compliance with health and safety standards.
5. Risk Assessment: Identify potential risks and challenges that may impact the success of the business, such as market volatility, competition, supply chain disruptions, and regulatory changes. Develop strategies to mitigate these risks and ensure business resilience.
6. Operational Plan: Outline the day-to-day operations of the business, including production processes, staffing requirements, inventory management, and quality control measures.
7. Marketing and Sales Strategy: Develop a comprehensive marketing and sales plan to attract customers, generate sales, and build brand awareness. Consider pricing strategies, distribution channels, promotional activities, and customer acquisition tactics.

Creatively Designing a Befitting Package for Products

Designing a package involves considering several factors to create an appealing and functional solution:

1. Product Considerations: Understand the product's characteristics, size, shape, and fragility to design packaging that provides adequate protection and preserves product integrity.
2. Brand Identity: Reflect the brand's personality, values, and positioning through the package design. Use consistent branding elements such as colors, fonts, and logos to create brand recognition and loyalty.
3. Target Audience: Consider the preferences, needs, and lifestyle of the target audience when designing packaging. Tailor the design to resonate with the target demographic and communicate the product's benefits effectively.
4. Aesthetic Appeal: Create visually appealing packaging that captures attention on store shelves and stands out from competitors. Incorporate elements of color, typography, imagery, and graphics to evoke emotions and convey brand messaging.
5. Functionality: Ensure that the packaging is practical and user-friendly, making it easy for consumers to access, handle, and store the product. Consider features such as resealable closures, handles, and portion control.
6. Materials and Sustainability: Select environmentally friendly materials and packaging solutions that minimize environmental impact and align with sustainable practices. Consider factors such as recyclability, biodegradability, and eco-friendly production processes.
7. Information and Communication: Include essential product information, instructions, and branding messages on the packaging. Ensure clarity, readability, and compliance with regulatory requirements while maximizing space for creative design elements.
8. Testing and Iteration: Conduct testing and feedback sessions with target consumers to evaluate the effectiveness of the packaging design. Iterate and refine the design based on feedback to optimize visual appeal, functionality, and brand perception.

EVALUATION: 1. What are the factors to be considered in Product Price Tag.

2. Differentiate between packaging and branding.
3. What are things essential things to consider while setting up a profitable business or production unit
4. Identify 5 importance factors to consider when designing a package.

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively