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LEARNING OBJECTIVES Understand how businesses can map their market to set out the key features of the market SUCCESS CRI

LEARNING OBJECTIVES Understand how businesses can map their market to set out the key features of the market SUCCESS CRITERIA < C Describe what market mapping is Identify the features a business could put on a market map Draw a market map for fast food restaurants C >

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LEARNING OBJECTIVES Understand how businesses can map their market to set out the key features of the market SUCCESS CRI

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  1. LEARNING OBJECTIVES Understand how businesses can map their market to set out the key features of the market SUCCESS CRITERIA < C Describe what market mapping is Identify the features a business could put on a market map Draw a market map for fast food restaurants C > Describe what market mapping is in detail, using examples B > Discuss whether spotting a gap in the market will guarantee the success of a business A > QOWC and SPAG

  2. Starter • How would you differentiate between the following two businesses (what are the main differences?) • McDonalds and Frankie and Benny’s e.g. waitress service / non waitress service

  3. Market Mapping When starting up a new business a market map helps a business decide where to position itself e.g. high or low price It helps you identify whether there is a gap in the market Market Mapping (or perceptual map or positioning map)- a diagram that shows the range of possible positions for two features of a product, such as low to high price and low to high quality

  4. Main

  5. Market Mapping http://www.youtube.com/watch?v=BjkrdvDbIU0 What is market mapping?

  6. High price Draw this map in your books High Quality Basic Quality Low price

  7. TASK After drawing your market map List as many restaurants you can think of... Place the restaurants on your diagram making sure it is located in the correct position. QUESTIONS Where is there a gap in the market? What kind of restaurant would you set-up in this gap? (Justify your answer with examples to support your ideas) Feedback to the class

  8. Homework Homework –Cine-world (a cinema) offers a range of products and services that appeal to wide range of different age groups. Why does Cineworlddo this? Discuss in detail 8 marks Homework due next Monday 1st October

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