Market
Description
Anticipatory Set (10
min)
The instructor will write a question on the board that
states “What do you think a target market means? The instructor will ask the students to take
2 minutes and think about the question.
The instructor will ask the students to provide an answer and write them
on the board.
Direct Instruction (10
min)
The instructor will briefly explain the meaning of Target
Market. The instructor will ask the
students to take out their business plan directions simultaneously showing them
on the projector. The instructor will
discuss the necessary elements to complete the Market Description for the
Business Plan. The instructor will ask if there are any
questions.
Guided Practice (30
min)
The instructor will have the students get into groups of
two. The instructor will hand out an
index card to each group with a major well known corporation. The instructor will ask each group to define
the Target Market and Secondary Markets, describe the major competitors and why
they are competitors for the company on the index card. (If you have business card stock that works
well) The students will write down the
answers on a separate piece of paper and hand in to the instructor. The instructor will allow the students ten
minutes to answer and the instructor will ask the groups to provide their
answers to the class.
Modeling (5 min)
The instructor will choose a company not on the index card
and provide the Target Market, Secondary Markets and major Competitors of that
company.
Independent Practice
(1 min)
The instructor will remind the students of the completion
date for the Market Description section of the Business Plan.
Checks for
Understanding
The students will submit the Market Description to the
instructor on the specified date. The
instructor will review the Market Description for errors or omissions and meet
with each individual or group to discuss changes for the final version.