Barriers
What is an example of a barrier?
Answers up to Teacher. E.g., Competition, Limited demand, or Lack of support.
What is an example of a solution?
Answers up to Teacher. E.g., Seek support, Seek investors, or Change advertising.
What is a market?
A place where people sell goods or services.
What does the term "needs" mean?
Something required to survive.
Unscramble this word: PROOMTNOI
PROMOTION
Answers up to Teacher. E.g., Apple is in competition with Samsung.
What solution would you suggest to a business that has a "lack of funds?"
E.g., Seek investors.
List up to 2 types of markets.
E.g., Retail, Stock, Commodities, etc.
What does the term "wants" mean?
Something a person would like to have.
Unscramble this word: CYMOONE
ECONOMY
Explain how a barrier, "competition" can hurt a business like Apple.
E.g., Apple's competitors, like Samsung, or another Phone company, can hurt them by taking away customers.
What solution would you suggest to a business that has a "limited customers?"
E.g., Change advertising or lower the price of the product.
On a mini whiteboard, draw what a market looks like.
Answers up to Teacher.
Describe the word "consumer."
People who buy goods and services are called this.
Unscramble this word: COTTNRAS
CONTRAST
How can the 4Ps of Marketing be used to help 'lack of planning'?
E.g., The 4Ps of Marketing can help as a guide to start planning effectively for your business.
What are the 4Ps of Marketing?
Price, Product, Place, and Promotion.
What is an example of a "good" and a "service" that is sold at a market/shop?
Goods: Food.
Services: Hair Styling.
Describe the word "producer."
People who provide goods or services are called this.
Unscramble this word: DPRCERUO
How can the 4Ps of Marketing be used to help 'limited customers'?
E.g., The 4Ps of Marketing can help the business gather more customers by considering the type of promotion they use and reconsidering the price of the product.
How can the 4Ps of Marketing be used as a solution?
Answers up to Teacher. E.g., The 4Ps of Marketing can help consider changes to "advertising, the price of the product, or even the design."
Who takes part in markets?
Consumers and Producers.
Describe what the terms "barrier" and "solution" mean.
Barrier: Something that stops or prevents you from achieving something.
Solution: A way to solve a problem or to deal with a bad situation.
Unscramble this word: RECRUOSES
RESOURCES