Marketing Masterclass from the Experts
Wednesday, 14 November 2012
Alfie Britten, 10a, reflects on this year's Enterprise Day which saw professionals from the Chartered Institute of Marketing (CIM) deliver a workshop to the whole of Year 10 on best practice marketing.
"This year I participated in the Year 10 Enterprise Day. I found it a really enjoyable experience and I think we all gained a lot from it.
The purpose of the day was to educate us as to what marketing is:
“The management process that identifies, anticipates and supplies customer requirements efficiently and profitably.“
The day allowed us to get some real experience of some of the skills required in a competitive, interactive way.
We began the day with a brief talk explaining this concept from Jeanne Kelly of NXO Bolton and she outlined the events of the day. We then dispersed to our various allocated rooms, I was placed in B33 and our marketing professional was Rizwan Tahir: we were instructed to call him Riz!
Before we began he asked us about the career paths we’d like to follow and what marketing might offer us. He also explained how the skills we would be using in our task could help us in many jobs. Then we were given our task to design and market a new rucksack and we were shown the interactive game we were to use to do this. This was connected to the other teams, in other rooms who we were to compete with. I think we all totally underestimated the difficulty of the task.
Simple decisions like where to advertise and who to target, could cost us thousands of pounds.
However, I think the thing we all found the most difficult was pricing; such a small difference in profit per unit was amplified so greatly in sales and I don’t think any of us were prepared for how difficult it was. But, with careful support and advice from Rizwan we worked our way through the four quarters making edits to our target market, bag design, advertisement and retailing, always attempting to beat the other teams and outwit their strategies.
In the first quarter we came out on top with a simple design and a small profit margin, we then perhaps got a bit ahead of ourselves and took a big risk with expensive television advertising which didn’t pay off and we moved down to fourth. Our team then re-set and worked our way up to third before finally reviewing our strategy and finishing third overall.
Despite not winning I think we all learned about how complex the marketing strategies for products we take for granted are, and how integral marketing is to any business. We also became aware of, and worked with, skills that we wouldn’t have the opportunity to try in everyday school.
I found the experience thoroughly enjoyable and I think I and everyone else took a lot from it. I would like to thank all the marketers for coming in and being so accommodating and friendly towards us."