Creating budding entrepreneurs with Year 5 Market Day.
In Term 1 our Year 5 students spent 4 weeks working on a Marketing Project under the transdisciplinary theme, ‘How we Organise Ourselves’. Students were asked to design and market a paper based product to SPW’s junior primary cohort.
In preparation for selling their products, the students conducted market research surveys to understand what would be appealing to their customers. They designed and created prototypes, filmed advertisements using the Green Screen App, kept budgets of their company expenses, created company logos and wrote jingles.
On Market Day students set up stalls and excitedly sold their items to the junior primary students. Their fellow peers excitedly bought an item with a supplied token and Year 5 students experienced the market forces of supply and demand, with some companies more successful than others in their ability to sell their merchandise.
Profit and Loss
After Market Day concluded Year 5 students reflected upon their experience and calculated if their company made a profit or loss. All in all students were able to understand that an economy relies on the exchange of goods and services.
Hopefully this unit may have inspired the entrepreneurs of the future!
Article by Eleanor Blight, Year 5 Teacher.