Market Day

Booklet 1 10 COMM6B
Names :
Benjamin park
Due Week 4 Term 2 24 May 2024 Friday One copy per group
 Introduction

During Terms 2 and 3, both Year 10 Commerce classes will engage in learning about
how businesses are structured, how they operate and how they influence society.
Students will obtain a better understanding of what businesses are, and how they
might go about creating their own business one day.

Throughout Terms 2 and 3, the lesson content will be taught in conjunction with
students completing aspects of Assessment Task 2. This is a practical hands-on task
that gives students the opportunity to put their theoretical learning in the classroom
into practice. The task follows the stages involved in establishing a business and
conceptualising a suitable product. It is, therefore, completed in parts, and students
will complete and submit parts of the Assessment Task in stages. The Assessment
Task culminates in students setting up a market stall in the main quad and selling
their products to other students and teachers within the school. Whilst students can
regain their expenses, any profits generated are donated to charity.

Year 10 Commerce Market Day Week 3, Term 3, Wednesday 7th August .2024
The Rules
There are a few things you will need to know about Market Day before you make your
decisions:

1. All students need to participate and work together, throughout the planning and on
the actual day. Each group member will have a role and each person must dedicate
equal time to the planning and process.
2. Students will operate stalls in the main quad where products will be sold.
Products/services sold need to be approved by your classroom teacher.
3. Groups will be have 5-6 people from the same class.
4. The point of Market Day is to experience running a business. All profit made on the
day will be donated to a charity that will be decided by all students and teachers.
5. Lessons and work completed in class must occur at the same time as planning for
Market Day.
6. Borrowing of any equipment (desks etc.) must be organised with the appropriate staff
member. The agreement (hire forms) must be signed by both parties and shown to
your teacher before the commencement of the market day.
7. Daily takings and all costs involved in production are to be recorded in this work
booklet. Once students have counted their daily takings, they are to be handed to
your class teacher. They are to be securely packaged and clearly labelled with the
name of your group. These will be held securely for you in the school safe until
proper counting has occurred.
8. No parents or friends are to help out at the stalls on the day.
9. Your budget for stock will be approximately $240.
10. Keep all your receipts when buying goods so that expenses can be repaid from profit
made. All refunds will be approved by the classroom teacher.
11. You will only be refunded if you make revenue over $240.
12. Market Day will run at recess plus assembly and lunch in the top and middle quads, if
it is raining it will be moved to the hall and canteen
13. Equipment and kitchens can be hired using money from your $240
 14. You must have the following things ready before you can trade:
a. $30 float (change money) and something to put it in.
b. Products appropriately packaged and labelled (list of contents for all
products)
c. Appropriate WHS measures in place e.g. gloves if handling food items

15. The organising teacher will allocate the location of stalls. Your stall must remain clean
and tidy throughout the day.

16. If you are concerned about your group's activities or if team members are not
contributing, you should approach your teacher immediately.

17. Remember that you are responsible for maintaining the environment around your
business. You will be marked on your ability to keep the area clean.

STUDENT DECLARATION

I, …………………………………… (student name) have read and acknowledged the above.

Signed Date

……………………………………………….
……………………………………..

PARENT/CAREGIVER ACKNOWLEDGEMENT

I, …………………………………… (parent/caregiver name) have read and acknowledged the

above.

Signed Date

……………………………………………….
……………………………………..
 Knowing your Group

The first thing you will have to do is consider each member's individual strengths and
weaknesses and devise roles for each member.

TEAM MEMBER SKILLS AND CHARACTERISTICS WEAKNESS IDENTIFIED (2)

NAME: THAT MAKE THEM A GOOD
ENTREPRENEUR AND TEAM
MEMBERS IN MY GROUP:
Using the information from the table above assign Roles to your team members

ROLE NAME OF GROUP MEMBER

CEO The CEO has the most responsibility and

is expected to organise and oversee all
aspects of the business. This person will
have multiple skills.

SALES MANAGER Sales is about working well with people.

The person who takes on this role can talk
confidently to people to increase sales.

MARKETING A creative type who will be the head of the

MANAGER business when it comes time for
promoting the business

OPERATIONS This will be someone who is organised

MANAGER and can work well under pressure. They
will be in charge of the day to day
operations and the production process

FINANCE Someone who is good with maths and

 MANAGER money will be ideal for this role. They will
look after the accounts and produce
financial records

HUMAN This is another people person. They

RESOURCES will ensure that staff are motivated,
MANAGER well trained and working well. They
may also be called upon to resolve
disputes

Key Questions and Theory

Before you begin to decide on what product your business will be selling, you must have
some understanding of some key theory and information which will have a significant impact
on your business.

Answer the questions in the space provided:

How will decisions be made in your group? E.g will it be a democracy, will all decisions lie
with the CEO or will the head of the relevant department have the final say? List 5 rules for
your group.

In our market day group, decisions will be made via a vote with the final decision influencing the
decision of the CEO, much like in the democratic process. However, 5 rules will be implemented to
make sure all of the best interests of the group are considered
 1. There will be notices on important due dates to encourage the group to finish their assigned
roles and responsibilities
2. The executive decision will be made by the CEO and the voting process will be a measure
that helps the CEO to make the best informed choice in whether the vote goes through or
not.
3. Something that falls under the responsbility of one of the assigned members, it will be their
duty to present that finsihed work to the group for a discussion.
4. After a decision is made, the actions or implmentations will be executed and head of
department will review whether it was a successful or unsucessful implementation
5.

What are the reasons that people buy particular products or services?

Various reasons apply to the reasons that people decide to buy particular products or services. A
reason for this may be that a particular product aligns with the consumer’s beliefs and desire for a
certain product. Furthermore, the quality and convenience that a product possesses can also
influence the customer’s overall desicions. For example, a product that is convenient can align with
someone who are in a rush or do not have much time. Quality can also be another determining
factor to the reason that consumers choose to buy specific products. Possessing a higher quality
and more refined products can entice the customer into purchasing the product over the
competition.

Demographics are the statistics that relate to population and people. Describe the
demographics of Parramatta High School.
 The population of Parramatta High School is very diverse in nationality and age. As such, our
market stall should align with the ethnic diversity in our school, so that everyone will be able to
make a connection with the stall allowing for a larger customer base. Additionally, the age of 12-18
ranges making our market targeted to a younger target market.

List the potential target markets that exist within the school.

There are three main types of target markets that exist within Parramatta High School:
1. Demographic:
Parramatta High School populates a wide variety of ethnicities and nationalities.
Chinese and Indian are most prominent in the school environment. We can aim to
create a stall, satisfying these demographics, selling cultural foods relative to their
respective cultures/ethnicities. Furthermore, ages in the school range from 12-18 and
hence create a younger target market as well.
2. Psychographic:
All students in the school have different attitudes towards certain categories and
hence create a wide spread of interests amongst students. We can survey a sample
of students, to gain an idea and understanding of the interests and disinterests of
some students and determine what the majority of students prefer to indulge in,
whether it be a good or service.
3. Geographic:
Parramatta is located in NSW This results in the majority of students drawing their
attention and interest to products in which they are familiar and had a positive
interest and experience.
Social, ethical and environmental
Discuss in your groups the following considerations that must be taken into account when
starting your business:

Social considerations necessary consideration for the social aspect in creating a

business is the treatment of customers and team members.
Respecting customers and their rights should

Ethical considerations
 Environmental considerations

Marking Criteria

STAGE 1: Being an Entrepreneur – ASSESSMENT

MARKING CRITERIA

● Extensively acknowledges skills and characteristics of all group 5-4

members that make them a good entrepreneur.
● Thinks critically about areas of strength and weakness within the team.
● All team members returned the signed declaration
● All aspects of the worksheet was completed
● Booklet was submitted on time

● Acknowledges skills and characteristics of all group members that 3-2

make them a good entrepreneur.
● Identifies areas of strength and weakness within the team
● Some members returned the signed documents.
● Some aspects of the worksheets was completed
● Booklet was submitted on time

● Aspects incomplete, missing or poorly attempted. 0-1

● May or may not acknowledge some skills and characteristics of group
members that make them a good entrepreneur.
● Declaration form was incomplete
● May or may not acknowledge areas of strength and weakness within
the team.
● Non serious attempt and late submission