Understanding Your Target Market Today

Understanding Your Target Market Today

Unit: Smart Business Strategies Lesson 3 of 20 Year 10 Business Studies Duration: 60 minutes

Curriculum Alignment

Australian Curriculum (v9) - Economics and Business AC9HE10S03: Interpret information and data AC9HE10S04: Develop responses to business issues AC9HE10K01: Economic indicators and decision-making Focus: Market analysis and consumer decision-making

Learning Objectives

Define target market and explain its importance Identify demographic, geographic, psychographic characteristics Analyse case studies for different business models Apply questioning skills to evaluate consumer segments

Lesson Overview Timeline

Engage Activity: Target Market Mind Map

Starter Question: 'Why do businesses need to know their target market?' Work in pairs for 5 minutes Brainstorm ideas together Share with class for whiteboard mind map Build collective understanding

Explore: Target Market Characteristics

Demographics: Age, gender, income, education Geographic: Location, climate, urban/rural Psychographics: Values, lifestyle, interests Behavioral: Online habits, purchasing patterns Interactive quiz to test understanding

Case Study 1: Eco-Friendly Fashion Store

Online sustainable clothing retailer Premium pricing for ethically-made items Strong social media presence Partnerships with environmental organizations Who is their target market?

Case Study 2: Gaming Accessory E-Store

Specialized gaming keyboards and mice High-performance equipment for competitive gaming Sponsorships with esports teams Technical specifications and customization Who is their target market?

Explain Activity: Group Case Study Analysis

Form groups of 4 students Analyse both case studies using worksheets Identify target market segments Use demographic, geographic, psychographic, behavioral criteria Prepare findings for sharing

Elaborate: Marketing Pitch Role-Play

Each group creates 2-minute pitch Target your identified market segment Explain why this segment suits the business Present to class for peer feedback Practice persuasive communication

Evaluation Discussion

Why is understanding target markets vital for online businesses? How does this knowledge aid business success? What happens when businesses get their target market wrong? Share examples from today's activities

Assessment Methods

Formative assessment through group observation Real-time polling quiz responses Individual exit ticket completion Peer feedback during presentations Class discussion participation