MARKETING I (Proposed name change to MARKETING ESSENTIALS)

Levels:Grades 10-12

Units of Credit:.50

CIP Code:08.0711

Core Code:37010000160

Prerequisites:None

Skill Test:401

COURSE DESCRIPTION

What makes a product your favorite? Students will learn basic principles that companies use to make awesome products that people want to buy. Marketing I explores the seven core functions of marketing which include: Marketing Planning--why target market and industry affect everything else; Marketing-Information Management -why market research is important; Pricing-how prices maximize profit and affect the perceived value; Product/Service Management-why products live and die; Promotion-how to inform customers about products; Channel Management- how products reach the final user; and Selling-how to convince your customer that your product is the best choice. Students will utilize knowledge in hands-on projects which may include: Conducting research, creating a promotional plan, pitching a sales presentation, introducing an idea for a new product/service.

STANDARD 1– Marketing Basics

Students will understand the basics of marketing including the seven core functions and the 4P’s of the marketing mix.

1.Objective: Define marketing and identify the seven core functions.

a. Define the terms marketing and the marketing concept.

b. Understand that marketing includes the following seven core functions:

·Channel Management

·Marketing Information Management

·Market Planning

·Pricing

·Product Service Management

·Promotion

·Selling

(Omitted the objective about private enterprise)

2.Objective: Understand the marketing mix or 4P’s of marketing.

a.Identify the four elements of the marketing mix

·Product

·Price

·Place

·Promotion

b.Explain how each component of the marketing mix contributes to successful marketing.

(Omitted the objective about DECA, and lots of “nature and scope”.

Overall goal: simplify so a new teacher could easily understand content or a student could teach his/herself. Thin out Marketing I to leave more room for activities and/or projects)

STANDARD 2 – Market Planning

A student will understand how a company considers internal and external factors to understand the current market.

  1. Objective: Understand the internal and external influences of marketing planning.
  2. Define a marketing plan.
  3. Understand market position and market share.
  4. Explain how a business can use a SWOT analysis (a component of situational analysis) to plan for opportunities in the market.
  1. Objective: Understand the concept of market and market identification.
  2. Define the term market
  3. Define the term target market
  4. Identify examples of niche marketing
  5. Understand how to identify an appropriate target market within a specific industry.
  6. Understand types of markets including: B2B -Business to Business; B2C-Business to Consumer.
  1. Objective: Understand the concept of market segmentation
  2. Define the term market segmentation
  3. Explain the commonly used types of market segmentation.

·Demographic Segmentation

·Geographic Segmentation

·Psychographic Segmentation

·Behavioral Segmentation

(Omitted objective about ROMI)

Teacher helps:

  • Explain how the 4 P’s of marketing are affected by the target markets for a product. Create a SmartArt graphic for a product with target market in the middle and 4 P’s around the edges.
  • Superhero SWOT analysis

STANDARD 3 – Marketing-Information Management

Students will understand the concepts needed to gather and evaluate information for use in making business decisions

  1. Objective: Describe marketing information and how it influences marketing decisions.
  2. Objective: Understand and analyze marketing-research activities
  3. Compare and contrast primary and secondary research

(Omitted determining research problem, assess and evaluate marketing information. Also omitted Objective 3: Understand how to employ marketing-information to develop a marketing plan.)

Teacher Helps:

Collect census data for community the students live in

Conduct surveys of community members/residents

STANDARD 4 – Pricing

Students will understand concepts and strategies utilized in determining and adjusting prices to maximize profit and meet customers’ perceptions of value

  1. Objective: Understand how businesses make pricing decisions
  2. Identify goals for pricing: profit, market share and competition
  3. Identify factors affecting a business’s price: supply and demand, perceived value, costs & expenses (profit margin), competition,
  4. Explain the economic principle of break-even point
  1. Objective: Discuss how businesses use pricing strategies to attract customers. (Strategies may include: odd/even pricing, loss leaders, prestige pricing, penetration pricing, price bundling, price lining, Everyday low pricing.)

Teacher helps:

Skills Test will not include specific pricing strategies but rather the idea of how pricing strategies are used to attract customers.

STANDARD 5 - Product/Service Management

Students will understand the concepts to introduce, maintain, and improve a product or service mix.

  1. Objective: Explain the role of product/service management as a marketing function

a. Explain the concept of product mix including: product lines, product width and product depth.

b. Understand the importance of generating new product ideas.

  1. Objective: Identify the components of the product life cycle (Introduction, Growth, Maturity, Decline)
  2. Identify decisions that need to be made in each stage of the product life cycles.

Moved marketing position/ market share (Market Planning) Omitted product bundling

STANDARD 6 – Promotion

Students will understand the process and methods to communicate information about products to achieve a desired outcome.

  1. Objective: Explain the role of promotion as a marketing function.
  2. Define promotion.
  3. Identify elements of the promotional mix including: advertising, public relations, personal selling, sales promotion.

Omitted promotional plan (Marketing II)

  1. Objective: Understand promotional channels used to communicate with the targeted audiences
  2. Give examples of advertising media used to communicate with target audiences including: print media (outdoor, newspaper, magazine, direct mail), digital (e-mail, apps, social media), broadcast (TV and radio).
  3. Identify public-relations activities including a press release and publicity.
  4. Discuss examples of sales promotions which include: coupons, loyalty programs, rebates, samples, premiums, sponsorship, and product placement.

Omitted personal selling, communication methods, included social media with types of advertising, omitted metrics.

STANDARD 7 – Channel Management

Students will understand the role of channel members and methods of product transportation.

1.Objective: Identify methods of channel management

  1. Define channel of distribution (formerly called sales channel)
  2. Understand the roles of intermediariesincluding: manufacturer, agent, wholesaler/industrial distributor, retailer, and consumer/industrial user.
  3. Identify the methods of transportation for products including: trucks, air, ship, and rail.

Omitted exclusive, selective and intensive distribution

STANDARD 8 – Selling

Students will understand how to determine client needs and wants and respond through planned and personalized communication.

1.Objective: Explain the role of personal selling as a marketing function

  1. Explain the role of customer service as a component of selling relationships.
  2. Explain the importance preparing for the sale including: gainingproduct knowledge of features and benefits, identifying target market and their needs, and overcoming common objections.
  3. Identify needs of customers and their buying behaviors: emotional, rational or patronage.

2.Objective: Explain the steps of the selling process including:

  1. approach the customer
  2. determine needs
  3. present the product
  4. overcome objections
  5. close the sale
  6. suggestion selling

Performance Objectives-- choose 3 of the 4 marketing performance indicators

  1. Conduct primary and/or secondary research and analyze results
  2. Create a promotional plan that includes the following components: target market, promotional objective, advertising media selection, promotional schedule, and budget.
  3. Pitch a sales presentation for a product or service using the steps of the sales process.
  4. Introduce an idea for a new product/service, include description of each of the 4 P’s.

VOCAB LIST

Channel Management Function

Marketing Information Management Function

Market Planning Function

Pricing Function

Product Service Management Function

Promotion Function

Selling Function

Marketing Mix or 4 P’s

Product

Place

Price

Promotion

Target Market

Market share

SWOT analysis

Market Position

Niche marketing

Market

Demographic segmentation

Geographic segmentation

Psychographic segmentation

Behavioral segmentation

Primary Research

Secondary Research

Profit

Competition

Supply

Demand

Profit margin

Break-even point

Pricing strategies

Product line

Product width

Product depth

Product life cycle

Introduction stage

Growth stage

Maturity Stage

Decline Stage

Advertising

Public Relations

Sales Promotion

Print media & examples

Digital media (and examples)

Broadcast media (and examples)

Press release

Publicity

Coupons

Loyalty programs

Rebates

Samples

Premiums

Sponsorship

Product placement

Intermediaries

Manufacturer

Agent

Wholesaler/industrial distributor

Consumer

Industrial user

B2B

B2C

Trucking

Air

Shopping

Rail

Objections

Selling relationship

Product demonstration

Closing the sale

Suggestion selling

Emotional Buying needs

Rational Buying needs

Patronage Buying

Features

Benefits