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Marketing For each of the sections that follow, students may be required to analyze, recall, explain, interpret, apply, or evaluate the particular concepts being taught. FUNDAMENTALS OF MARKETING
· · · · · · · define marketing
identify the nine functions of marketing
define utility in economic terms
explain the economic value and benefits of marketing
state the marketing concept and determine its value to the public
define a market and determine ways in which it might be segmented
identify marketing methods to reach potential customers ECONOMIC/WORLD ECONOMIES BASICS
summarize the essential principles on which a modified free enterprise system is based
explain how supply and demand interact to set prices
discuss the consumer's role in a market economy
identify the factors of production and relate them to the three basic questions that all economies must answer
· list the goals of a healthy economy and explain how they are measured
· describe the four phases of the business cycle · · · · BUSINESS AND MARKETING ESSENTIALS
· · · · · · tell what a business is and explain the basic functions of a business
discuss business ethics and areas in which businesses are thought to have social responsibility
identify demographic, geographic, and psychographic trends in the U.S. consumer market
distinguish the consumer and industrial markets
discuss the importance of international trade to nations and describe the ways governments can impede and encourage it
explain how businesses can get involved in international trade and what factors they should consider before doing so HUMAN RESOURCE ESSENTIALS
· · · · · perform essential math functions with whole numbers, fractions, and decimal numbers
effectively communicate by speaking, listening, writing or reading
list the major ways computers are used to save businesses money
facilitate understanding of others through personal attitude and interpersonal skills
explain the basic functions of management and discuss effective management techniques
SELLING
· · · · · · · · · define selling and state its goals
identify feature benefit selling
identify sources of product information
discuss how customers make buying decisions
present the eight steps of the sales process
explain the techniques that are applicable to the retail sales process
use techniques for determining needs and techniques for an effective product presentation
determine ways to handle customer questions and objections
demonstrate ways to close the sale and follow up on the sale PROMOTION
· · · · explain the role of promotion in marketing
explain the purpose and types of advertising media
prepare print advertising
explain how to design, prepare, maintain and dismantle displays PRICING
· · · identify and use pricing terminology correctly and effectively
perform computations related to pricing theory and practice
plan a pricing strategy PRODUCT PLANNING
explain how businesses plan what products to produce and sell and how they position and manage these products
· identify key product mix strategies
· explain the nature and scope of branding
· explain the importance of warranties and credit to product planning · ENTREPRENEURSHIP
· · · · identify the risks, rewards, advantages and disadvantages of entrepreneurship
explain the scope of small business in the U.S. economy
identify business risks and tell how businesses handle them
explain a business plan