Download Course 8721 Principles of Business and Finance Unit A Principles of

Course
Essential
Standard
Objective
Essential
Questions
8721 Principles of
Business and Finance
3.00
Unit A
Principles of Business
Understand the role of
marketing in business.
3.01
Understand principles of
marketing.
 How are the functions of marketing classified?
 How does marketing research impact the creation and
improvement of goods/products and services?
 How is the selling price of goods/products and services
determined?
 How are the channels of distribution classified?
 How are the types of promotion classified?

Jot down what you think marketing is.

Do Focus on Real Life on page 236. Contemplate the following questions:
1.
Will someone share how he/she became aware of a product/service purchased recently?
2. How has advertising changed over the years?
3. How important is it for businesses to adjust their advertising methods in order to reach
perspective consumers?

As I lecture, fill in your graphic organizers and add notes as we complete slides
1-6.

Working with your classmates TO THE RIGHT OF YOU…complete the Who’s
Marketing in Your Town activity.

Moving along, read Focus on Real Life on page 243. Contemplate the following
questions:
1.
Will someone describe a situation of how he/she made a good purchase decision?
2. How did the business help with that decision?
3. Will someone describe a situation of how he/she made a bad purchase decision?
4. How could a business have made this decision better?

TOD – Answer the first EQ.
I. The marketing process includes a variety of activities that are organized into functions. The
classification of marketing functions are:
A. Marketing-information management
B. Product/service management
C. Pricing
D. Place (Distribution)
E. Selling
F. Financing
G. Promotion
II. Businesses use marketing research to obtain information about experiences of customers and
characteristics of goods/products or services in order to create or improve them.
Characteristics of goods/products and services
Similar
Goods/Products
Services
Different
Goods/Products
Services
Tangible
Intangible
Non-perishable
Perishable
Separable
Inseparable
2. Include a mix of the marketing elements:
Easier to market
More difficult to market
product, price, promotion, and place
More control over
Less control over quality
1. Meet the needs or satisfaction of a target
market
(distribution)
quality
III. The value and price of products and services are influenced by price factors and components. The
components of a price are the:
Selling price=product costs + operating expenses + profit.
IV. The Channel of distribution is imperative to ensuring goods/products and services reach intended final
consumers. The two types of channel of distribution are:
A. Direct
B. Indirect
V. Promotion is a means to inform, persuade, or remind customers about goods/ products and services.
The two main types of promotion are:
A. Personalized
B. Mass
Name ____________________ Class __________ Date __________
Functions of Marketing Organizer – 3/23/15
Directions: Provide a response for the listed items.
What happens during the marketing process?
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
Functions of Marketing
Describe
Marketing
Information
Systems
Product/Service
Management
Pricing
Place
(Distribution)
Selling
Financing
Promotion
Example
Name ____________________ Class __________ Date __________
Marketing in Your Town Activity – COLLABORATE WITH THE PERSON TO YOUR
RIGHT. 3/23/15
Directions: Identify businesses that perform marketing functions in your community, on
television, and social media. You may use business: representatives or directory, the
Yellow Pages, the Internet, print material, product containers, etc.
Marketing function: ______________________________________________________
Name of business: ______________________________________________________
Resource: _____________________________________________________________
Brief description of business services: _______________________________________
______________________________________________________________________
______________________________________________________________________
Marketing function: ______________________________________________________
Name of business: ______________________________________________________
Resource: _____________________________________________________________
Brief description of business services: _______________________________________
______________________________________________________________________
______________________________________________________________________
Marketing function: ______________________________________________________
Name of business: ______________________________________________________
Resource: _____________________________________________________________
Brief description of business services: _______________________________________
______________________________________________________________________
______________________________________________________________________
Marketing function: ______________________________________________________
Name of business: ______________________________________________________
Resource: _____________________________________________________________
Brief description of business services: _______________________________________
______________________________________________________________________
______________________________________________________________________
Marketing function: ______________________________________________________
Name of business: ______________________________________________________
Resource: _____________________________________________________________
Brief description of business services: _______________________________________
______________________________________________________________________
______________________________________________________________________
8721 Principles of Business and Finance
Summer 2010, Version 2
Page 4