KS4 Curriculum Booklet 2017 - 18

Curriculum Overview KS3

Subject: Business Studies Overview effective from[date ]: September 2017

3.5.4 The elements of the marketing mix: price, product, promotion and place (4Ps)

Suggested timing (hours)

Learning activities and resources

Specification content

Learning objectives

Additional guidance

1

Reference – BBC Bitesize webpage on pricing new products Show four products – mobile phone, petrol, bread, designer clothes – students brainstorm the factors that would impact the level of price charged for each product, eg quality, brand, age of product, features, tax level etc. Teacher led explanation of price skimming and price penetration. Students to think of examples of products that use these pricing strategies. Teacher led discussion on the impacts these pricing decisions will have on the business. Students complete an analysis question on pricing strategies, for example – explain two benefits for PlayStation of using price skimming when launching their latest console. Teacher led explanation of competitive pricing, loss leader and cost-plus pricing. Students to think of examples of products that use these pricing strategies. Teacher led discussion on the impacts these pricing decisions will have on the business Starter – graveyard hangman

Pricing methods

To understand price skimming and price penetration. To understand the impact these pricing decisions will have on the business.

Students should have an understanding of the main features of pricing methods and the impact they will have on a business.

1

To understand competitive pricing, loss leader and cost- plus pricing. To understand the impact these pricing decisions will have on the business.

Students should have an understanding of the main features of pricing methods and the impact they will have on a business.

Complete question 1d) 9 marks June 2015. Drag ‘n’ drop activity on pricing strategies