Lessons 22 · 1 lessons · U. G‘afurov, Q. Sharipov. Basics of Entrepreneurship: textbook for Grade 11 of general secondary schools and for secondary specialised and vocational institutions. 1st edition. “O‘zbekiston” publishing house, Tashkent, 2018
22
Marketing in entrepreneurship
Textbook: pp. 103–106
GoalExplain the goals and tasks of marketing, the stages of marketing research and primary and secondary information, and do simple calculations with survey results.
New words
marketing: organising production and sales on the basis of studying what the market needs · Marketingmarketing research: collecting and analysing information about customers, demand and competitors · Marketing tadqiqotiprimary information: new data collected for the first time, for example through a survey or observation · Birlamchi axborotconsumer: a person who buys or uses a product or service · Iste’molchi
Explanation
Marketing is organising the production and sale of goods that match what the market needs, after studying that need. The idea is simple: instead of producing first and looking for a buyer afterwards, find out beforehand what the market wants. The goal of marketing is to meet consumer demand well and in this way earn profit and raise sales. Its tasks are to study demand and competitors, find effective ways of selling, plan production according to demand, set the price correctly and inform buyers about the product. For this, marketing research is carried out: the goal is set, a plan is made, information is collected and analysed, and results are shown in a table or chart. Primary information is collected anew through surveys, observation and experts’ opinions, while secondary information comes from analysing data that already exists; in a survey, do not ask for people’s personal details and get their consent.
Worked examples
An imaginary local bakery thinks of selling a new kind of bread. A survey of 80 customers found that 28 said they would buy it, that is 28 / 80 × 100 = 35 %. Of the 2 000 families in the neighbourhood, 35 %, that is 700 families, may be potential buyers.
Secondary information: an entrepreneur takes the number of shops in an area from an existing statistical list (no new research), which is secondary information. If he counts himself how many people enter a shop each day for a week, that is primary information.
Class activity
Mini-research: a group writes a 5-question questionnaire for an imaginary product (for example a reusable school water bottle), asks classmates (with their consent and without names), records the results in a table, calculates the percentages and prepares a 3-minute presentation.
Practice
1
What is the main idea of marketing?
First find out what the market wants, then produce and sell what fits it.
2
Write the difference between primary and secondary information in one sentence.
Primary information is collected anew (survey, observation), while secondary information is taken from existing data.
3
15 of 50 people said they would buy the product. What per cent is that?
30
4
There are 1 500 families in the neighbourhood and 40 % said in a survey that they would buy. How many families are potential buyers?