This article explores how a new market can be established.
Appropriate Subject Area(s):
Marketing, promotion, business growth
Key Questions to Explore:
- What are some key strategies a business can use when entering a new market?
Mindomo. This is a free mind-mapping app. Have students download it to their smart phones or tablets.
Introduction to lesson and task:
Students will read about and think about strategies for forging new markets for a product or service.
Action (lesson plan and task):
- Ask students to download the Mindomo app onto their smartphone or tablet.
- Review what a mind map is and why it is used.
- Distribute the article for reading.
- Using Mindomo, have students work in pairs to draw a mind map on the strategies and benefits for the NHL forging into the Chinese market.
- Have students save the mind map and create a second one, brainstorming the benefits to China and its population for building up hockey and the NHL in China.
- Combine pairs and have them create a Venn diagram comparing and contrasting the two mind maps.
Consolidation of Learning:
- Have students create a marketing plan for a product or service of their choice to enter a new market. The market can be a new country or a new target market locally.
- Students identify various marketing strategies and know when and how to apply them.
- Working in teams of four, have students prepare a marketing plan to share with the NHL with recommendations on how to gain market share in China.