Business Basics Lesson 3

• Citizenship
• Upper Secondary (Key Stage 4)
• BTEC, GCSE

Introduction to business

Lesson 3

Business advice

The manager from one of these butchers has come to you for some advice:

What do they need to do to a) increase the growth of their business and b) increase the profit of their business

Business Advice

The manager now asks you how you think they should market themselves.

What is your advice? a) who should they be marketing too? b) how should they be marketing themselves?

Homework

Using AI, create a marketing campaign for either the supermarket butcher or the village butcher.

Use the growth drivers you identified to help with this. 

Who are you advertising to?

Business Basics

https://eduspark.world/courses/details/business-basics-for-svitlo-education

What have you been able to look at and read here...

A story of business failure...

The prelude...

In the 1980s, Gerald Ratner inherited The Ratner Group, which owned over a thousand successful low-cost jewelry stores across the U.S. and UK called Ratners. In 1991 Gerald was invited to speak at an Institute of Directors convening. "It was a prestigious event with thousands of the U.K.'s most powerful investors in attendance." Gerald wrote a speech and showed it to his PR rep, who told him to add some jokes, which he did. 

The End.

 By week's end the Ratner Group's stock lost £500M in valuation ($1.5B today's dollars). By year-end, they'd lost another 80% of the company's value. Over 300 stores were closed, and "Gerald was forced to resign from his position as CEO. He was also forced to sell his shares, which he used to pay off his debt, leaving him with nothing.

A story of business success...

Apple Computer, Inc. was founded on April 1, 1976, by college dropouts Steve Jobs and Steve Wozniak, who brought to the new company a vision of changing the way people viewed computers. Jobs and Wozniak wanted to make computers small enough for people to have them in their homes or offices.

Apple's USP

Apple's unique selling points include its focus on innovation, design, and user experience. Apple's products are known for their sleek design, intuitive user interfaces, and innovative features. These factors have helped Apple differentiate itself from its competitors and attract a loyal customer base.

What business decision did Steve Jobs make early in the life of Apple that proved to be the foundation of the companies success?

Was Bill Gates 'wrong' with his strategy of licensing operating systems? Why?

Conversion rate

Apples sales per square foot (the general retail measuring stick) is nearly twice as high as the next retailer. 

Discounts

Apple never discounts through its direct channel. It does discount refurbished products and, of course, there are price changes, but there’s no “sale” pricing

Homework...

Research: Complete the 'Business Basics Technique' table for Apple.

Homework