Local Objectives for Contemporary Marketing

What is Marketing (Weeks 1-2)

Students will be able to:

• Define marketing
• Explain the role of business in society
• Describe types of business activities
• Describe the functions of marketing
• Describe the common criticisms of marketing
• Describe how ethical issues affect marketing
• Identify historical legislation and its effect on marketing
• Begin to understand career opportunities in marketing

(Weeks 3-4)

Students will be able to:

• Identify basic economic concepts
• Understand the influence of scarcity and private enterprise
• Understand the law of supply and demand
• Define competition, monopoly and oligopoly
• Describe economic utility
• Understand the importance of entrepreneurship
• Understand the changing business environment and how it affects marketers
• Plan a marketing strategy
• Understand consumer behavior and how businesses should therefore respond
• Identify the consumer decision making process
• Satisfy a consumer through the marketing mix
• Continue understanding career opportunities

(Weeks 5-6)

Students will be able to:

• Understand the need for marketing information
• Find and manage marketing information
• Use market research
• Utilize research surveys and observation
• Understand what motivates consumer behavior
• Identify how consumers and businesses use routine, limited, and extensive decision making
• Understand Maslow’s hierarchy of needs
• Understand markets can be segmented, how to evaluate market potential, and how to calculate market share
• Understand common positioning strategies
• Distinguish between direct and indirect competition and price from non-price competition
• Understand business competition

(Weeks 7-8)

Students will be able to:

• Demonstrate marketing concepts via projects
• Explain the definition of e-commerce
• Understand the importance of e-commerce
• Understand the role of promotion for e-commerce
• Explain the criteria of an effective target market
• Understand ways to alter a basic product to improve its marketing appeal

(Weeks 9-10)

Students will be able to:

• Understand the components of a new product
• Identify how to develop a new product
• Describe the importance of services to the U.S. economy
• Identify three types of service standards
• Develop a service marketing mix
• Identify the five major classifications of a business consumer
• Describe the role of purchasing procedures within businesses
• Understand retail purchasing
• Understand the importance of product distribution

(Weeks 11-12)

Students will be able to:

• Understand why pricing is an important tool
• Identify the three components that must be covered by the final selling price
• Understand the importance of credit
• Understand how promotion is a form of communication
• Describe the positives and negatives of using advertising as a form of communication with consumers
• Understand the steps in the promotional planning process
• Understand the process of setting objectives, determining a budget and developing an advertising theme
• Evaluate the effectiveness of advertising and its methods

(Weeks 13-14)

Students will be able to:

• Understand the value of selling
• Prepare for effective selling
• Understand the selling process and sales support
• Understand the expanding world economy
• Describe how multinational companies compete by thinking globally
• Assess business risks
• Identify and manage marketing risks
• Be able to evaluate the effect of marketing on business finances
• Understand tools for financial planning

(Weeks 15-16)

Students will be able to:

• Define entrepreneurship
• Identify characteristics entrepreneurs share
• Identify business ownership opportunities
• Understand the legal needs for business owners
• Understand the importance of a business plan

(Weeks 17-18)

Students will be able to:

• Understand how to manage effectively
• Understand the benefits of a marketing career
• Identify job levels in marketing
• Plan their own marketing and education career path
• Begin career planning