Marketing Research Practicum in Marketing Dynamics Marketing Lesson Plan Performance Objective The student identifies marketing research as a specific inquiry to solve a problem. Specific Objective The student can express the importance of marketing research. The student can describe areas of marketing research such as advertising, product, market and sales. The student can explain the purpose of test marketing. The student can identify trends affecting marketing research. The student can communicate the benefits and limitations of marketing research. Terms Marketing Research - the systematic gathering, recording, analyzing, and presentation of information related to marketing goods and services Test Marketing - type of marketing research that occurs when a new product is placed in one or more selected geographic areas. Time When taught as written, this lesson should take one to two days to teach. Preparation TEKS Correlations: This lesson, as published, correlates to the following TEKS. Any changes/alterations to the activities may result in the elimination of any or all of the TEKS listed. §130.348. Practicum in Marketing Dynamics (c) Knowledge and Skills (17) The student identifies marketing research as a specific inquiry to solve a problem. The student is expected to: (A) express the importance of marketing research; (B) describe areas of marketing research such as advertising, product, market, and sales; (C) explain the purpose of test marketing; (D) identify trends affecting marketing research; and (E) communicate benefits and limitations of marketing research. Copyright © Texas Education Agency, 2015. All rights reserved. 1 Interdisciplinary Correlations: §110.47 Reading I, II, III (b) Knowledge and skills. (2) The student acquires an extensive vocabulary through reading and systematic word study. The student is expected to: (A) expand vocabulary by reading, viewing, listening, and discussing; (B) determine word meanings through the study of their relationships to other words and concepts such as content, synonyms, antonyms, and analogies; (4) The student comprehends texts using effective strategies. The student is expected to: (A) use prior knowledge and experience to comprehend; (B) determine and adjust purpose for reading; and (D) summarize texts by identifying main ideas and relevant details. Occupational Correlation (O*Net – www.onetonline.org/): Job Title: Market Research Analysts and Marketing Specialists O*Net Number: 13-1161-00 Reported Job Titles: Business Development Specialist, Client Service and Consulting Manager, Client Services Vice President, Communications Specialist, Market Analyst, Market Research Analyst, Market Research Consultant, Market Research Manager, Product Line Manager, Project Manage Tasks: Prepare reports of findings, illustrating data graphically and translating complex findings into written text. Seek and provide information to help companies determine their position in the marketplace. Gather data on competitors and analyze their prices, sales, and method of marketing and distribution. Collect and analyze data on customer demographics, preferences, needs, and buying habits to identify potential markets and factors affecting product demand. Devise and evaluate methods and procedures for collecting data, such as surveys, opinion polls, or questionnaires, or arrange to obtain existing data. Soft Skills: Speaking, Active Listening, Critical Thinking, Judgment and Decision Making, Social Perception Accommodations for Learning Differences Copyright © Texas Education Agency, 2015. All rights reserved. 2 It is important that lessons accommodate the needs of every learner. These lessons may be modified to accommodate your students with learning differences by referring to the files found on the Special Populations page of this website (cte.unt.edu). Preparation Review and familiarize yourself with the terminology, Have materials ready prior to the start of the lesson. References: Textbooks: Kimbrell, G., & Woloszyk, C. A. (2005). Marketing Essentials. Woodland Hills: McGraw-Hill Companies. Online: http://www.onetonline.org Instructional Aids Textbook Lesson Presentation Instructor Computer/Projection Unit Online Websites Introduction The main purposes of this lesson is to help students understand Importance of marketing research Areas that can benefit from marketing research The purpose of test marketing Trends affecting marketing research The benefits and limitation of marketing research. Ask students how they think companies find out what type of products people would like? Ask students if they think their opinion is important to marketers? Copyright © Texas Education Agency, 2015. All rights reserved. 3 Outline MI Outline I. Terms A. Marketing Research B. Test Marketing II. Marketing Research A. Identifies opportunities B. Solves problems C. Implements marketing plans D. Monitors marketing Instructor Notes Use presentation as visual aide Have students write vocabulary terms and meanings Discuss role of marketing research using the Presentation and listed resources III. Marketing Research used in A. Advertising B. Packaging C. Product design and development D. Determining market E. Sales F. Secondary Data IV. Trends in Research A. Mobile devices B. Social media C. Speed of business D. Many sources of data V. Benefits of research A. Determine best way to reach customer B. Identify opportunities C. Minimize risk D. Identify problems E. Establish market position VI. Limitations of Marketing Research A. Increases value B. Increases demand C. Supply and Demand Allow students 20 minutes to complete guided practice VII. Guided Practices Copyright © Texas Education Agency, 2015. All rights reserved. 4 Multiple Intelligences Guide Existentialist Interpersonal Intrapersonal Kinesthetic/ Bodily Logical/ Mathematical Musical/Rhythmic Naturalist Verbal/Linguistic Visual/Spatial Application Guided Practice Students will brainstorm reasons why products might fail. Independent Practice Students will research products that have failed and reasons why those products have failed. Summary Review 1. 2. 3. 4. 5. Importance of marketing research Areas that can benefit from marketing research Purpose of test marketing Trends that affect marketing research Benefits and limitations of marketing research . Evaluation Informal Assessment Informal assessment will be made as the student participates throughout the discussion process and contributes to the guided practice activity. Teacher will observe students by walking the classroom during each activity. Formal Assessment Students will research at least five products that have been failures upon product launch. They will explain why those products failed and how marketing research might have helped save those products. They will prepare a written report and a digital presentation to present to the class. Copyright © Texas Education Agency, 2015. All rights reserved. 5 Enrichment Extension Integrate writing skills: Assign students to research how major companies conduct marketing research. They should research how much emphasis the corporation places on marketing research. Do they conduct focus groups, survey’s, observations? Do they use social media to contact customers? They will write a paper explaining their organizational structure and how marketing research fits into their corporation. Copyright © Texas Education Agency, 2015. All rights reserved. 6 Failed Product Research Working in small groups students will research five products that have failed upon launch. Explain what the product was and provide a brief history Discuss why the product failed For instance: o Did it not meet target market expectations? o Was it the wrong target market? o Did the product not work correctly? o Did customers want different options? Explain how marketing research might have helped make the product a success. The paper and presentations will be graded using the following rubric. Copyright © Texas Education Agency, 2015. All rights reserved. 7 Failed Product Research Categories Content Preparedness 20 15 Student is Student shares knowledgeable and information includes all required in information plus presentation additional content in presentation Student is prepared Student seems and has rehearsed prepared but should extensively rehearse more Enthusiasm Facial expressions and body language show interest and enthusiasm about the topic Facial expressions and body language sometime show interest Speaking, eye contact, and posture Speaks clearly, stands straight and makes eye contact with audience 100% of presentation Speaks clearly, stands straight and makes eye contact with audience 90% of presentation Written Report Extensive information included with descriptive factors regarding the economic and political system and is well constructed. Information included regarding economic and political systems and is well constructed 10 Student is missing one or two elements in presentation 5 or less Student is missing multiple elements of content and is lacking knowledge Student is somewhat prepared but is lacking rehearsal Facial expressions and body language are used to try to generate enthusiasm Student is not prepared Speaks clearly, stands straight and makes eye contact with audience 80% of presentation Information included regarding economic and political systems Total Score ________ Maximum 100 Points Copyright © Texas Education Agency, 2015. All rights reserved. 8 Very little used of facial expressions or body language. Did not generate much interest in topic Mumbles, slouches and does not look at the audience throughout the presentation One or more elements are not included regarding the economic and political system