In our “Start ‘Em Up Business” Program, we teach students about Market Research. One form of Market Research is getting people’s opinions about your product. Typically, research is conducted on potential customers who may buy your product in the future.
If you view the “Start ‘Em Up Business” video on our website, you will see students who have created a t-shirt business. One part of the process was to conduct market research at the local library. We held our class and sold the t-shirts at the library as well. These students made $130 and took home $13 each!
Your after-school program students can do a similar activity. You can enhance this activity by making a field trip out of it.
Take your students on a field trip where there are potential customers. For example, if your youth decide to create a jewelry business, take them places where people dress up like a theater (where plays are performed) or outside a business district.
Below is how to execute this activity:
- Have students create a product for the class business.
- Based on the product, decide where Market Research should be held.
- Prepare Market Research questions such as:
- What do you like about our product?
- What do you dislike about our product?
- Do you have color preferences?
- How can this product be improved?
- What would you be willing to pay for this product?
- Go on the field trip.
- Group students in pairs to conduct research.
- Discuss what was found during research.
- Adjust the product accordingly.
Note: If you can’t take a field trip, you can always conduct research at your after-school site with teachers, parents, and the nearby community.