Browse through topics for Senior Secondary 3 1st, 2nd and 3rd Terms, All Weeks, All Subjects
Term: 2nd Term
Week: 1
Class: Senior Secondary School 3
Age: 17 years
Duration: 40 minutes of 2 periods each
Date:
Subject: Commerce
Topic:- Introduction to marketing
SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to
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 business environment |
Students pay attention |
|
STEP 2 EXPLANATION |
She explains marketing and states the functions and importance of marketing She outline the types of market and defines the Marketing concept
|
Students pay attention and participates |
|
STEP 3 DEMONSTRATION |
She discusses the components of the marketing concept She further explains what a product and product mix is
|
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
INTRODUCTION TO MARKETING
Marketing is the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large.
FUNCTIONS OF MARKETING
IMPORTANCE OF MARKETING
MARKETING CONCEPT
The marketing concept is the use of marketing data to focus on the needs
and wants of customers in order to develop marketing strategies that not
only satisfy the needs of the customers but also the accomplish the goals
of the organization.
MARKET
A market is defined as the sum total of all the buyers and sellers in the area
or region under consideration. The area may be the earth, or countries,
regions, states, or cities. The value, cost and price of items traded are as
per forces of supply and demand in a market.
TYPES OF MARKETS
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
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 etc
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
consumer goods and services for personal and family consumption.
Consumer market examples are
services include hoteling, hairdressing, schools and colleges etc
sales of goods and services. These marketers do not target consumer
markets. Some examples of the industrial market include
and weapons.
materials that need further processing to produce finish goods.
This is a place for dealing with liquid assets for example shares, bonds etc.
MARKETING MIX
The marketing mix describes the specific combination of marketing
elements used to achieve the marketing objectives and satisfy the target
market.
It is the term that is used to describe the combination of the four inputs that
constitutes the core of a company’s marketing system, the product, the
price, the promotional activities and the distribution system.
In his book, Basic marketing, a managerial approach, Mc. Cathy refer to
four key variables in marketing as “the four Ps”. These are the four key
marketing program, which can create demand and increase the sales of
products.
THESE VARIABLES ARE PRICE, PRODUCT, PROMOTION AND PLACE.
This represents an item or service designed to satisfy customer needs and
wants. To effectively market a product or service, it's important to identify
what differentiates it from competing products or services. It's also
important to determine if other products or services can be marketed in
conjunction with it.
The sale price of the product reflects what consumers are willing to pay for
development, manufacturing, marketing, and distribution—otherwise known
as cost-based pricing. Pricing based primarily on consumers' perceived
quality or value is known as value-based pricing.
Value-based pricing plays a key role in products that are considered to be
status symbols.
When determining areas of distribution, it's important to consider the type
of product sold. Basic consumer products, such as paper goods, often are
readily available in many stores. Premium consumer products, however,
typically are available only in select stores.
Joint marketing campaigns are called a promotional mix. Activities might
include advertising, sales promotion, personal selling, and public
relations. One key consideration is the budget assigned to the marketing
mix. Marketing professionals carefully construct a message that often
incorporates details from the other three Ps when trying to reach their
target audience. Determination of the best mediums to communicate the
message and decisions about the frequency of the communication also are
important
PRODUCT MIX
A product is a set of tangible physical attributes assembled in an
identifiable form, which the buyer may account as offering want for
satisfaction e.g. shoes.
Product mix is a marketing decision on product which lay emphasis on
quality, style, brand name, packaging and durability in order to boost sales.
EVALUATION: 1. Define marketing
CLASSWORK: As in evaluation
CONCLUSION: The teacher commends the students positively