Year 10 Business Studies Market Stalls
On Tuesday 18th December, the Year 10 business studies class set up to run a market stall. They were given two lessons to come up with an idea of a product that they could sell on the market. The product had to be both original and appropriately priced.
This article was written by Esha in year 10.
There was an abundance of amazing ideas that made their way onto the market, varying from Deluxe Baubles, Heavenly Scents, Snow Shooters, Ex-Snow-Jive, Churro Cheer, Elysian and last but not least my group, Dames of Nature.
Our group, Dames of Nature, consisted of myself, Deeksha, Aparajita, Mansha and Sakshi. Collaboratively, we agreed to go down the food route and make something edible – cake pops. As well as making our product, we had to publish a brochure about it. In the brochure we included a description of our product, why our cake pops were unique, how we added value, why consumers should buy them and what were the risks and rewards of the product?
Our market research enabled us to pitch our product to our target consumers at the correct price. On the big day we set up our stalls in the canteen. They were decorated with lights, table cloths and made as attractive as possible to pull in customers. While music played , half of our group were assigned to our stall presenting and talking about our product, while the rest of the group circulated the other stalls collecting information to see if their products were actually viable. Overall, this was a very worthwhile experience as it illustrated the depth of research and investigation that needs to take place before you launch a new product into the market.