Market Analysis Lesson Plan

Instructor: Dana Dance-Schissel

Dana teaches social sciences at the college level and English and psychology at the high school level. She has master's degrees in applied, clinical and community psychology.

How important is market analysis in business? This lesson plan uses an informative text/video lesson to outline the process of market analysis and concludes with an engaging group activity.

Learning Objectives

Upon completion of this lesson, students will be able to:

  • define market analysis
  • list key steps in market analysis

Length

  • 1.5 to 2 hours

Curriculum Standards

  • CCSS.ELA-LITERACY.RH.11-12.2

Determine the central ideas or information of a primary or secondary source; provide an accurate summary that makes clear the relationships among the key details and ideas.

  • CCSS.ELA-LITERACY.RH.11-12.3

Evaluate various explanations for actions or events and determine which explanation best accords with textual evidence, acknowledging where the text leaves matters uncertain.

  • CCSS.ELA-LITERACY.RH.11-12.7

Integrate and evaluate multiple sources of information presented in diverse formats and media (e.g., visually, quantitatively, as well as in words) in order to address a question or solve a problem.

Materials

  • Access to the lesson What is Market Analysis? - Definition & Examples
  • A worksheet created using the quiz from the associated text lesson
  • A basic analysis of the general demographic in your town (e.g the average Anytown citizen is a 44 year old married male earning $65,000 per year with two children)

Instructions

  • Ask students to name some of their favorite businesses in their town.
    • Why do you think these companies decided to open in your town?
  • Watch or read the introduction and 'Market Analysis' sections of the lesson What is Market Analysis? - Definition & Examples.
    • Do you think your favorite companies conducted market analysis prior to opening in your town?
  • Tell the class to watch or read the 'Conducting Market Analysis' and 'Target Market' sections of the text lesson.
    • What is meant by sustainability in terms of the industry description and outlook step of market analysis?
    • How might companies go about collecting data on their target market?
  • Ask the class to watch or read the rest of the text lesson now.
    • Why is it important to analyze competitors?
    • What does culture have to do with selling products?
  • Pass out the worksheet and ask students to work independently to complete it.

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