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Category Archives: 11BUS

Issues Task Submission

13 Monday Jun 2016

Posted by Mr B Toohey in 11BUS

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Hi guys

Please submit Issues Task through Turnitin before the end of Wednesday’s lesson – you have already enrolled in the class from the first task, but info is here just in case:

Turnitin website: http://turnitin.com/en_us/home

Class ID: 12386553

Password: qwerty

Also, please email to me as a back-up.

A reminder to check the formatting requirements for a ‘Report’ outlined on the task sheet, and to please look after an old man’s eyes:

  • 12 point basic font (Calibri, Arial or Times New Roman preferred)
  • 1.5 or 2.0 spacing
  • Make sure your name is on it!!

Thanks, BT

Business Issues Assessment Task

23 Monday May 2016

Posted by Mr B Toohey in 11BUS

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Business Issues Assessment Task Sheet

Due Wednesday 15 June (Week 7)

 

‘Shark Tank’ – marketing task

18 Wednesday May 2016

Posted by Mr B Toohey in 11BUS

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Marketing task – Shark Tank 2016

Presentations on Wednesday 1 June (Week 5)

52 Marketing Ideas

16 Monday May 2016

Posted by Mr B Toohey in 11BUS

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PowerPoint constructed by the class last Friday from this page

In pairs (move around)

Take one of your invented/improved products:
what are 3 excellent marketing strategies for this product, and what are 3 marketing strategies which would not work? Why/why not?

Market Research: McDonald’s

11 Wednesday May 2016

Posted by Mr B Toohey in 11BUS

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Addressing changing food values through market research

Online:
http://www.afrbiz.com.au/case-studies/mcdonald-s-addressing-changing-food-values-through-market-research.html

PDF (the photocopy)

Click to access McDonalds_Case_Study_Ed_4.pdf

How did McDonald’s

  • identify the interests of stakeholders?
  • what are the two types of research undertaken? Define each.
    • How were each undertaken?
    • what other market research do they do?
  • what quality control do they put into their research techniques?
  • Why did they implement 3 changes?
  • How do they communicate with their consumers? How does it differ?

 


Start of lesson:

List 6 things you want to know about a mobile phone

Choose one type of phone to investigate (go to its official website)

On a scale of 1 (hard) to 5 (easy), how easy was it to find the answers to your questions? (Just give the 1-5 scale, no need to write answers to your questions)

Feedback: Qualitative vs Quantitative

Marketing

09 Monday May 2016

Posted by Mr B Toohey in 11BUS

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Marketing handout

marketing20mix

  • Marketing is a total system of interacting activities designed to plan, price, promote and distribute products to present and potential customers.

 

Role of marketing:

  • Find out what customers want and then attempt to satisfy their needs.
  • Bring together the buyer and seller.
  • Generate revenue for the business.

 

  • A market is a group of individual, organisations or both that:
    • need or want a product
    • have the money to purchase the product
    • are willing to spend their money to obtain the product
    • are socially and legally authorised to purchase the product.

 

  • Marketing plans and strategies vary depending on the intended market.

 

Type of market Customers
Resource Agricultural firms
Industrial Secondary and tertiary firms
Intermediate Wholesalers and retailers
Consumer Individuals and households
Mass Vast number of individuals
Niche Small target market

 

Changes in marketing over time:

 

  1. Production approach – Taking orders and delivering goods.
  • 1820s to 1920s
  • Emphasis on producing goods
  • Demand for goods is greater than supply.

 

  1. Sales approach – Advertising and personal selling.
  • 1920s to 1960s
  • Emphasis on selling goods
  • Demand is weaker.

 

  1. Marketing approach – Aimed at satisfying customers’ needs.
  • 1960s to present
  • Emphasis on identifying customer needs through market research
  • Establishing and maintaining customer relationships
  • Development of the marketing concept.

The marketing concept is a business philosophy that states that all sections of the business are involved in satisfying a customer’s needs and wants while achieving the business’s goals. It is based on four principles:

  • customer-oriented
  • supported by integrated marketing strategies
  • aimed at satisfying customers
  • integrated into the business plan so as to achieve the business’s goals.

Marketing concept accomplished through:

  • Customer orientation: marketing decisions and practices are based on customers’ needs
  • Relationship marketing: long-term relationships with individual customers to create customer loyalty.
  • Marketing planning process is the process of developing and implementing marketing strategies to achieve marketing strategies, and consists of five steps:
  1. Performing situational analysis
  2. Establishing market objectives
  3. Identifying target markets
  4. Developing marketing strategies
  5. Implementing, monitoring and controlling the marketing plan.

 

  • Marketing plans must evolve and adapt to new circumstances.

From Chapter Summary, Marketing, HSC Course, JacOnline

More critical issues

04 Wednesday May 2016

Posted by Mr B Toohey in 11BUS

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Management

  • vision
  • communication
  • staffing and delegation
  • ‘teams’

Trend analysis

  • Market segmentation: measurable parts of a total market
    • What is something ubiquitous now that wasn’t 10 years ago?
    • What has changed, developed or been invented?
    • Are these targeted to different parts of the total market?
  • Economic trends

Avoiding over-extension

  • Finance
  • Staff

Using technology

  • retail
  • school

Economic Conditions

Remember the economic cycle?

economic cycle

How might businesses adapt to different stages of the economic cycle?

Critical Issues in Business Success and Failure

03 Tuesday May 2016

Posted by Mr B Toohey in 11BUS

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My golf ball invention…

Take an existing product and make it better.

[handout: ‘Critical Issues in Business Success and Failure’]

‘Importance of a Business Plan’

  • define business plan
  • what are the basic components of a business plan? What would it look like for your product?
  • Goals, Strategies, Importance of Business Plan

4 types of Business Plan – what are they, when is each used?

End of Term 1 …

15 Friday Apr 2016

Posted by Mr B Toohey in 11BUS

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… and onto T2. You might want to have a think over the holidays.

Heads up for next term: the assessment tasks will be

  • an Issues Study: identify a business related current issue, explain why it is important, controversial, or of public interest – written task
  • a Practical Task: take a common product and improve it, then market it and present to the class

Today and Homework:

Read and short summaries of section 11.7:

  • debt & equity
  • cost of finance
  • financial requirements

Answer the questions of ‘Financing a Fashion Store’

11.8 Legal Requirements: Q6

11.9 Human Resources: Revision Q3, Extension Q2

Made a start in class on Friday….

Location

12 Tuesday Apr 2016

Posted by Mr B Toohey in 11BUS, Uncategorized

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Review location worksheet homework.

‘Online presence’ (p367 old text)

Home-based businesses (p368)

Kogan:  https://www.kogan.com/au/about/

Revision

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