Lesson 3.2 – On Target for Competition
This is a National FFA Agri-Entrepreneurship Program lesson (Unit 3, Lesson 3.2: “On Target for Competition”) that teaches students how to identify a business’s target market and its competitors. Through note-taking, a sorting activity, a written target-market description, and a “Bob the Weather Guy” e-Moment, students learn the components used to describe customers (age, gender, occupation, income, education, residence) and the questions used to evaluate competitors. The lesson supports completion of the National FFA Agri-Entrepreneur Award application.
At a glance
- Learning objectives
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- Identify the components to consider when discovering the target market.
- Identify the components to consider when discovering a business's competition.
- Time required
- 90 minutes
- Materials
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- Writing surface
- Writing utensil
- Overhead projector
- One copy of AS.1-5 to post around the classroom
- Copies of TM.1 for each student
- Sticky notes
- Computer with access to the World Wide Web
- LCD projector with connection to computer
- Projector screen
- Precepts
- H. Social growth — H1. Acknowledge that differences exist among people; N. Decision Making — N2. Demonstrate problem solving skills
- Key Terms
- Target market, Competitors
- Resources
- Schilit, W. K. The entrepreneur's guide to preparing a winning business plan and raising venture capital. New Jersey: Upper Saddle River. Prentice Hall, 1990. Barringer, B. R. Preparing effective business plans: An entrepreneurial approach. New Jersey: Upper Saddle River. Pearson Education, Inc. 2009. Lambing, P. A. & Kuehl C. R. Entrepreneurship. New Jersey: Upper Saddle River. Pearson Education, Inc. 2007. Tooch, D. E. Building a business plan. New Jersey: Upper Saddle River. Prentice-Hall, Inc. 2004
Downloads & Links
Aligned Standards
National Standards
- NSS-EC.9-12.7Markets and Market Price
- NSS-EC.9-12.9Competition in the Marketplace — Students understand the introduction of new products and production methods by entrepreneurs is an important form of competition and is a source of technological progress and economic growth.