Grade: 10 Subject: Business Studies Topic: Market Research
Learning Objectives: 1. Remembering: Recall the definition and importance of market research. 2. Understanding: Understand the different methods and techniques used in market research. 3. Applying: Apply market research techniques to gather and analyze data. 4. Analyzing: Analyze the collected data to identify market trends and consumer preferences. 5. Evaluating: Evaluate the effectiveness of market research in making informed business decisions. 6. Creating: Create a market research plan for a hypothetical product or service. 7. Values: Recognize the ethical considerations in conducting market research.
Methodology: 5E Model 1. Engage: Begin the lesson by showing a short video on the importance of market research. Use the following link: [Video Resource: https://www.youtube.com/watch?v=3b7JFyX51xE] - Discuss with students why market research is essential for businesses. - Ask students to share any personal experiences where market research influenced their purchasing decisions.
- Explore: Provide students with a worksheet that defines market research terms and concepts. Use the following link: [Worksheet Resource: https://www.teach-nology.com/worksheets/soc_studies/marketresearch/]
- In pairs or small groups, have students complete the worksheet and discuss their answers.
- Facilitate a class discussion to clarify any misconceptions and reinforce understanding.
- Explain: Present a PowerPoint presentation or lecture on different methods and techniques used in market research.
- Include examples of primary and secondary research methods, such as surveys, interviews, focus groups, and data analysis.
- Discuss the advantages and disadvantages of each method.
- Use real-life case studies to illustrate the application of market research techniques.
- Elaborate: Divide students into small groups and assign each group a hypothetical product or service.
- Instruct students to create a market research plan for their assigned product or service.
- Encourage students to consider target audience, research methods, data collection, and analysis techniques.
- Provide guidance and support as needed.
- Evaluate: Have each group present their market research plan to the class.
- Encourage classmates to ask questions and provide feedback on the proposed plan.
- Assess students’ understanding of market research concepts and their ability to apply them effectively.
- Extend: Assign a reflective writing task where students analyze the ethical considerations in market research.
- Prompt students to discuss the importance of privacy, informed consent, and unbiased data collection.
- Encourage critical thinking and personal reflection on the impact of unethical market research practices.
Additional Resources: 1. Video Resource: “Market Research Explained” - [https://www.youtube.com/watch?v=3b7JFyX51xE] 2. Worksheet Resource: “Market Research Terms and Concepts” - [https://www.teach-nology.com/worksheets/soc_studies/marketresearch/] 3. Case Study Resource: “Market Research Case Studies” - [https://www.marketingdonut.co.uk/market-research/market-research-basics/market-research-case-studies]
Note: The provided resources are suggestions and can be modified or replaced based on availability and suitability for your specific classroom setting.