Active learning ideas
Identifying business opportunities is the first step in the entrepreneurial process. Students learn how ideas are generated through brainstorming, market observation, and identifying 'gaps' in the market. They also explore the difference between internal sources (like R&D or employee suggestions) and external sources (like competitors or customer feedback) for new ideas.
Activity 01
Students use a 'SCAMPER' brainstorming technique in groups to come up with a new product or service for the Irish market. They must identify one internal and one external source that inspired their idea and present it to the class.
What are the internal and external sources of new business ideas?
Activity 02
Groups design a 5-question survey for a new snack food. They must 'hit the corridors' (or use digital forms) to gather data from other students, then analyse the results to decide if they should proceed with the product launch.
Why is market research critical before launching a product?
Activity 03
Provide various secondary data sources (e.g., a Mintel report summary, a CSO chart, a competitor's website). Students move in groups to extract three key 'opportunities' or 'threats' for a specific business from these documents.
What is the difference between primary and secondary research?
A few notes on teaching this unit
Watch Out for These Misconceptions
Market research is only for big companies.
Even a small local business needs to know if there is demand for their service. Active learning tasks where students 'research' a small classroom venture help them see that research can be low-cost and highly effective for any scale of business.
Primary research is always better than secondary research.
Secondary research is often faster and cheaper, providing a great starting point. Peer-led debates on 'Cost vs. Accuracy' help students understand that a good business uses a mix of both methods to get a complete picture.
Methods used in this brief
The Marketing Mix
Explore the four Ps of marketing: Product, Price, Place, and Promotion. Students will design a marketing strategy for a hypothetical product.
8 methodologies
Business Expansion
Analyse the reasons for business expansion and the methods used, including organic growth, mergers, and acquisitions. Students will evaluate the financial and economic implications of growth.
8 methodologies