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Virgin Money: Will it work?

The children continued their good work on the Virgin Money scheme this week. It was explained to the pupils that they now needed to think about their enterprise idea more carefully in order to understand if it would work. In pairs, they generated as many questions as they could about their enterprise idea. These were then shared with the rest of the class. Next, the pupils were asked why they thought companies do market research. It was highlighted how the key to a good business is understanding who your customers are, what they want and meeting those needs in a way that is profitable for you. The pupils looked at similar products or services already on the market to see if they could learn from them.  The pupils then designed a questionnaire about their business idea. They considered preferred versions of the product and the cost. It was discussed how it is important to understand what resources are needed to get a business idea off the ground and the cost of these resources.

Sacred Heart Catholic Primary School