Lesson 16: Market Research
Duration of Days: 3
Lesson Objective
Students will understand the fundamental concepts of market research, including its purpose, types, and methods. By the end of the lesson, students should be able to explain how market research informs business decisions, design simple market research activities, and analyze basic data to draw conclusions
What do you think market research involved
Why do you think a business conducts market research?
How can understanding customer needs and preferences benefit a business?
What might happen if a company launches a product without conducting market research?
market research, primary data, survey, focus groups, secondary data, demographics, 80/20 rule, target market segments: demographics, behavioral, psychographic, geographical segments, primary data, secondary data, qualitative data, quantitative data,
HS.CTE.1D - 1D. Communicate effectively using course content.
POG:
I am a LEARNER: Master fundamental skills in core subject areas
I am a THINKER: Critical thinking, independent thinking
Evidence-based reading and writing sections that require analyzing arguments and identifying logical flaws.
SAT Math sections that require logical reasoning and the ability to solve complex problem
Purpose: Provide a clear understanding of what market research is and why it is essential for businesses, explain the different types and methods of market research and show how it helps businesses understand consumer needs
DOK 1:
define market research and its primary purpose
DOK 3: Analyze the difference in marketing from McDonalds to Lays for example
Discuss how companies use market research to gain information about their customers and send marketing to their target customers
Only large corporations conduct market research
Modeling, one on one instruction, Google classroom or Moodle. Online instructional tools, videos, real world application of information, textbook, online or paper assignments, Spanish version available for ELL students
Guided Notes, worksheet, analysis of coke vs pepsi, and how McDonalds target marketing is different that others
Entrepreneurship, 6th edition, online/paper edition. Online working papers (MindTap), class notes, Do Now, Exit Tickets