Course



Principles of Business and Finance

6200/6600

|Essential Standard# |Unit Titles/Essential Standards and Objective Statement |Local Use |Course |

|Objective # | | |Weight |

|Unit A |Principles of Business | | |

|Essential Standard |Understand the role of marketing in business. | |10% |

|3.00 | | | |

|PBF3.01 |Understand principles of marketing. | |5% |

|PBF3.02 |Understand buying behaviors. | |5% |

Essential Standard 3.00 will help students understand the basic role of marketing in business and the buying behaviors of consumers. Objective 3.01 will help students to understand the classifications of the functions of marketing, the impact of marketing research to creating and improving goods/products and services, the factors and components that influence the selling price of goods/products and services, and the classification of the channels of distribution and the types of promotion. Objective 3.02 will allow students to learn about the steps of developing a marketing strategy and understand the consumer decision-making process, the major sources of consumer information, and the classification of shopping locations.

UNPACKED CONTENT

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. Distribution (Place)

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 |Different |

|Goods/Products Services |Goods/Products |Services |

| | | |

|Meet the needs or satisfaction of a target market | | |

|Include a mix of the marketing elements (product, price, promotion, | | |

|and distribution) | | |

| | | |

| | | |

| |Tangible |Intangible |

| |Non-perishable |Perishable |

| |Separable |Inseparable |

| |Easier to market |More difficult to market |

| |More control over quality |Less control over 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

| |RELEVANCY TO OBJECTIVE |RESOURCES |

|INSTRUCTIONAL ACTIVITES | | |

|1 |Functions of Marketing Introduction |Helps students begin to UNDERSTAND |Textbook |

| |Have students read Focus on Real Life on page 236 in Intro to Business, |(B2) the functions of marketing | |

| |6e, Thomson Southwestern textbook. | | |

| |Facilitate a discussion about marketing using these questions: | | |

| |Will someone share how he/she became aware of a product/service purchased| | |

| |recently? | | |

| |How has advertising changed over the years? | | |

| |How important is it for businesses to adjust their advertising methods in| | |

| |order to reach perspective consumers? | | |

|2 |Functions of Marketing Reading and PowerPoint Presentation |Helps students UNDERSTAND (B2) the |Functions of Marketing |

| |Present an overview of the functions of marketing. |functions of marketing |Organizer |

| |Facilitate students completing the Functions of Marketing Organizer. | | |

| |Students may obtain information by reading pages 236-240 in Intro to | |PowerPoint Presentation 3.01, |

| |Business, 6e, Thomson South-Western textbook OR by participating during | |slides 1-6 |

| |presentation of PowerPoint Presentation 3.01, slides 1-6. | | |

|3 |Who’s Marketing in Your Town |Helps students to UNDERSTAND (B2) |Textbook |

| |Have students complete Marketing in Your Town Activity. NOTE: Use Make |the functions of marketing | |

| |Academic Connection Marketing Activity on page 242 in Intro to Business, | |Marketing in Your Town Activity|

| |6e, Thomson South Western textbook as a guide. | | |

| |Discuss responses as a class. | |Other resources: business |

| | | |representatives, business |

| | | |directory, Yellow Pages, |

| | | |internet, newspapers, product |

| | | |containers |

|Instructional Activities continued on the next page. |

| |RELEVANCY TO OBJECTIVE |RESOURCES |

|INSTRUCTIONAL ACTIVITES | | |

|4 |Goods/Product and Services Introduction |Helps students begin to UNDERSTAND |Textbook |

| |Have students read Focus on Real Life on page 243 in Intro to Business, |(B2) the process of creating or | |

| |6e, Thomson Southwestern textbook. |improving goods/products to be | |

| |Facilitate a discussion about marketing using these questions: |useful | |

| |Will someone describe a situation of how he/she made a good purchase | | |

| |decision? | | |

| |How did the business help with that decision? | | |

| |Will someone describe a situation of how he/she made a bad purchase | | |

| |decision? | | |

| |How could a business have made this decision better? | | |

|5 |Goods/Product and Services Reading and PowerPoint Presentation |Helps students UNDERSTAND (B2) the |Creating or Improving |

| |Present an overview of the process of creating or improving |process of creating or improving |Goods/Products and Services |

| |goods/products to be useful. |goods/products to be useful |Organizer |

| |Facilitate students completing the Creating or Improving Goods/Products | | |

| |and Services Organizer. Students may obtain information by reading pages | |PowerPoint Presentation 3.01, |

| |243-248 in Intro to Business, 6e, Thomson South-Western textbook OR by | |slides 7-12 |

| |participating during presentation of PowerPoint Presentation 3.01, slides| | |

| |7-12. | | |

| | | | |

| | | | |

|6 |Marketing Research |Helps students UNDERSTAND (B2) the |Marketing Research Activity |

| |Have students complete the Marketing Research Activity. NOTE: Use Make |importance of marketing research to| |

| |Academic Connection Research Activity on page 242 in Intro to Business, |creating or improving | |

| |6e, Thomson South Western textbook as a guide. |goods/products and services | |

| |Facilitate students working together that have researched similar | | |

| |goods/products or services. Keep the size of groups to three to four. | | |

|Instructional Activities continued on the next page. |

| |RELEVANCY TO OBJECTIVE |RESOURCES |

|INSTRUCTIONAL ACTIVITES | | |

| |Facilitate students sharing results for Parts B & C of the activity | | |

| |within groups. NOTE: Pay attention to the justification shared by the | | |

| |students to check for their understanding of the importance of marketing | | |

| |research. This activity is a formative assessment. | | |

|7 |Pricing Introduction |Helps students begin to UNDERSTAND | |

| |Present an overview of how selling prices are calculated. |(B2) how selling prices are | |

| |Facilitate a discussion about selling prices using these questions: |calculated | |

| |Will someone share how he/she determine the value of a good/product or | | |

| |service? | | |

| |Will someone share how he/she determines how much to pay for a | | |

| |good/product or service? | | |

|8 |Pricing Reading and PowerPoint Presentation |Helps students UNDERSTAND (B2) how |Price Components Organizer |

| | |selling prices are calculated | |

| |Facilitate students completing the Price Components Organizer. Students | |PowerPoint Presentation 3.01, |

| |may obtain information by reading pages 250-252 in Intro to Business, 6e,| |slides13-15 |

| |Thomson South-Western textbook OR by participating during presentation of| | |

| |PowerPoint Presentation 3.01, slides 13-15. | | |

| | | | |

|9 |Determining the Price Components |Helps students APPLY (C3) the |Price Components Activity |

|[pic] |Demonstrate how to calculate the selling price for a products using one |formula to calculate price | |

| |of the problems from Part A of the Price Components Activity. |components | |

| |Have students complete Part A of the Price Components Activity. | | |

| |Demonstrate how to calculate a missing amount of a price component using | | |

| |one of the problems from Part B of the Price Components Activity. | | |

| |Have students complete Part B of the Price Components Activity. | | |

|Instructional Activities continued on the next page. |

| |RELEVANCY TO OBJECTIVE |RESOURCES |

|INSTRUCTIONAL ACTIVITES | | |

|10 |Channels of Distribution Introduction |Helps students begin to UNDERSTAND |Textbook |

| |Have students read Focus on Real Life on page 250 in Intro to Business, |(B2) channels of distribution | |

| |6e, Thomson Southwestern textbook. | | |

| |Facilitate a discussion about channels of distribution using these | | |

| |questions: | | |

| |Will someone describe an experience he/she had with trying to access a | | |

| |good/product or services that was unavailable upon request? | | |

| |Will someone describe an experience he/she had with receiving a damaged | | |

| |good/product or service below expected quality? | | |

| |Will someone describe an experience he/she had with receiving a wrong | | |

| |good/product in a package? | | |

| |For the above situations, who should be held responsible? NOTE: Connect | | |

| |how distribution can be held responsible for any problems. | | |

|11 |Channels of Distribution Reading and PowerPoint Presentation |Helps students UNDERSTAND (B2) |Channels of Distribution |

| |Present an overview of channels of distribution. |channels of distribution |Organizer |

| |Facilitate students completing the Channels of Distribution Organizer. | | |

| |Students may obtain information by reading pages 252-254 in Intro to | |PowerPoint Presentation 3.01, |

| |Business, 6e, Thomson South-Western textbook OR by participating during | |slides 16-18 |

| |presentation of PowerPoint Presentation 3.01, slides 16-18 | | |

| |Discuss some examples of channels of distribution with the students. | | |

| |Examples: | | |

| |Direct | | |

| |Local cleaning company promotes its business and provides services to its| | |

| |local customers. | | |

| |Mary sells her famous juices at the local festivals. | | |

|Instructional Activities continued on the next page. |

| |RELEVANCY TO OBJECTIVE |RESOURCES |

|INSTRUCTIONAL ACTIVITES | | |

| |Indirect | | |

| |Drugstores sell Maybelline Cosmetics. | | |

| |Macy’s sells Nautica line of clothing. | | |

|12 |Channel the Way |Helps students UNDERSTAND (B2) |Channel the Way Activity |

| |Assign students to groups of two. |channels of distribution | |

| |Have groups complete the Channel the Way Activity. NOTE: Use the Create | |Resources: |

| |Activity of the Portfolio Activity on page 263 as a guide. | |the Internet, interviews of |

| |Facilitate groups sharing their findings with at least one other group. | |representatives from |

| |Note: If possible make sure groups that are sharing with one another have| |distribution centers, |

| |researched different distribution places from the activity. | |directories of businesses |

| |Allow groups to display their findings around the classroom. | | |

|13 |Promotion Introduction |Helps students begin to UNDERSTAND |Textbook |

| |Have students read Focus on Real Life on page 255 in Intro to Business, |(B2) promotion | |

| |6e, Thomson Southwestern textbook. | | |

| |Facilitate a discussion about promotion using these questions: | | |

| |Will someone describe an example to show how important promotion is? | | |

| |Will someone share an effective experience they have had with the | | |

| |promotion of a good/product or service by a company? | | |

| |Will someone share an ineffective experience they have had with the | | |

| |promotion of a good/product or service by a company? | | |

|14 |Promotion Reading and PowerPoint Presentation |Helps students UNDERSTAND (B2) |Promotion Organizer |

| |Present an overview of promotion and its main types. |promotion | |

| |Facilitate students listing as many different types of promotion as | |PowerPoint Presentation 3.01, |

| |possible. | |slides 19-21 |

|Instructional Activities continued on the next page. |

| |RELEVANCY TO OBJECTIVE |RESOURCES |

|INSTRUCTIONAL ACTIVITES | | |

|14 |NOTE: Consider making the display available on chart paper, electronic | | |

| |display, bulletin board etc. for the entire class to see as it is being | | |

| |created. | | |

| |Facilitate students completing the Promotion Organizer. Students may | | |

| |obtain information by reading pages 255-259 in Intro to Business, 6e, | | |

| |Thomson South-Western textbook OR by participating during presentation of| | |

| |PowerPoint Presentation 3.01, slides 19-21 | | |

|15 |Inform, Persuade, or Remind Me |Helps students EXEMPLIFY (B2) |Inform, Persuade, or Remind Me |

| |Have students complete Inform, Persuade, or Remind Me Activity. |different types of promotions |Activity |

| |Facilitate students sharing with the class their examples of promotions | | |

| |and if the promotions inform, persuade, or remind. | |Examples of types of promotion |

| | | |gathered by students |

|16 |Supplement: Planning a Career in… Marketing |Helps students UNDERSTAND (B2) |Textbook |

| |Have students read Career Brief on page 235 in Intro to Business, 6e, |promotion | |

| |Thomson South-Western textbook about careers in marketing. | | |

| |Facilitate a discussion using the question: Why the needed skills listed | | |

| |are necessary? | | |

| |Facilitate students naming marketing careers listed in the career brief. | | |

| |NOTE: Display all the careers for students to see while they are naming | | |

| |them. | | |

| |Coordinate for a Marketing representative to serve as a guest speaker. | | |

| [pic]-Numeracy Strategy: To make a Math-to-Life Connection is to see a relationship between a math concept and a real-life situation. Finding |

|math-to-life connections greatly increase the relevance of new information and skills being learned. |

Instructional Support Material

|Textbook |Website |

|Intro to Business, 6e, Thomson South-Western |None |

|Handouts (included) |Other |

|Functions of Marketing Organizer |PowerPoint Presentation 3.01 (separate file) |

|Marketing in Your Town Activity |Business representatives, business directory, Yellow Pages, the |

|Creating or Improving Goods/Products and Services Organizer |internet, newspapers, product containers |

|Marketing Research Activity |Assessment Prototypes (included) |

|Price Components Organizer | |

|Price Components Activity | |

|Channels of Distribution Organizer | |

|Channel the Way Activity | |

|Promotion Organizer | |

|Inform, Persuade, or Remind Me Activity | |

Name ____________________ Class __________ Date __________

Functions of Marketing Organizer

Directions: Provide a response for the listed items.

What happens during the marketing process?

__________________________________________________________________________________________________________________________________________________________________________________________________

|Description of the Functions of Marketing |

|Marketing-Information |Product/service Management |Pricing |Distribution |Selling |Financing |Promotion |

|Management | | | | | | |

| | | | | | | |

| | | | | | | |

| | | | | | | |

| | | | | | | |

| | | | | | | |

| | | | | | | |

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Name ____________________ Class __________ Date __________

Marketing in Your Town Activity

Directions: Identify businesses that perform each of the marketing functions in your community. A business may perform more than one function. You may use resources such as interviews of business representatives, a business directory, the Yellow Pages, the internet, newspapers, product container, 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 in Your Town Activity Continued

Marketing function: ______________________________________________________

Name of business: ______________________________________________________

Resource: _____________________________________________________________

Brief description of business services: _______________________________________

__________________________________________________________________________________________________________________________________________________________________________________________________________________

Marketing function: ______________________________________________________

Name of business: ______________________________________________________

Resource: _____________________________________________________________

Brief description of business services: _______________________________________

__________________________________________________________________________________________________________________________________________________________________________________________________________________

Name ____________________ Class __________ Date __________

Creating or Improving Goods/Products and Services Organizer

Directions: Provide a response for the listed items.

Define marketing research:

____________________________________________________________________________________________________________________________________________

Steps in marketing research:

1. ___________________________________________________________________

2. ___________________________________________________________________

3. ___________________________________________________________________

4. ___________________________________________________________________

5. ___________________________________________________________________

List the types of research studies:

________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Describe the parts of a product:

____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Creating or Improving Goods/Products and Services Organizer Continued

List the characteristics goods/products and services

|Similarities |

|Goods/products |Services |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

|Differences |

|Goods/products |Services |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

Name ____________________ Class __________ Date __________

Marketing Research Activity

Part A

Directions: Identify a good/product or service you would like to gather experiences of other people using it. Consider something that is used regularly such as electronics, snacks, clothes, cleaners, massages, etc.

Questions to consider:

What are some of your favorite features about ________________________________?

Comment(s)

____________________________________________________________________________________________________________________________________________

What are some of your least favorite features about ___________________________?

Comment(s)

____________________________________________________________________________________________________________________________________________

What would you change about ____________________________________________?

Comment(s)

____________________________________________________________________________________________________________________________________________

What would you tell the maker/provider of __________________ about its good/product or service?

Comment(s)

____________________________________________________________________________________________________________________________________________

Part B

Directions: Show your results in a visual aid such as a collage of pictures, table, graph, or chart

Part C

Directions: Justify how your findings could assist the maker/provider of _____________.

____________________________________________________________________________________________________________________________________________

____________________________________________________________________________________________________________________________________________

____________________________________________________________________________________________________________________________________________

____________________________________________________________________________________________________________________________________________

Name ____________________ Class __________ Date __________

Price Components Organizer

Directions: Provide responses to the listed items.

List factors that may influence pricing of goods/products and services

1. ___________________________________________________________________

2. ___________________________________________________________________

3. ___________________________________________________________________

4. ___________________________________________________________________

5. ___________________________________________________________________

6. ___________________________________________________________________

Pricing formula

Selling price = Product costs + Operating expenses + Profit

| | | | |

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| | | | |

Markup

______________________________________________________________________

______________________________________________________________________

Markdown

______________________________________________________________________

______________________________________________________________________

Name ____________________ Class __________ Date __________

Price Component Activity

Directions: Determine the missing amount of the price component for each good/product or service.

Part A

|Selling price |Good/product or service costs |Operating expenses |Profit |

|$ ? |$14 |$7 |$18 |

|$ ? |$8 |$4 |$12 |

|$ ? |$12 |$6 |$18 |

|$ ? |$23 |$8 |$34 |

|$ ? |$17 |$9 |$8.50 |

|$ ? |$70 |$17 |$47.50 |

Part B

In your own words state why markup is added to the price of a good/product or service.

__________________________________________________________________________________________________________________________________________________________________________________________________________________

|Good/product or service |Product cost |Markup percent |Markup amount |Selling price |

|A |$12 |40% |$4.80 |$ ? |

|B |$18 |50% |$9 |$ ? |

|C |$55 |45% |$24.75 |$ ? |

|D |$73 |45% |$ ? |$105.85 |

|E |$127 |60% |$ ? |$203.20 |

|F |$175 |40% |$ ? |$245 |

Price Component Activity KEY

Directions: Determine the missing amount of the price component for each good/product or service.

Part A

|Selling price |Good/product or service costs |Operating expenses |Profit |

|$39 |$14 |$7 |$18 |

|$24 |$8 |$4 |$12 |

|$36 |$12 |$6 |$18 |

|$65 |$23 |$8 |$34 |

|$34.50 |$17 |$9 |$8.50 |

|$134.50 |$70 |$17 |$47.50 |

Part B

In your own words state why markup is added to the price of a good/product or service.

__________________________________________________________________________________________________________________________________________________________________________________________________________________

|Good/product or service |Product cost |Markup percent |Markup amount |Selling price |

|A |$12 |40% |$4.80 |$16.8 |

|B |$18 |50% |$9 |$27 |

|C |$55 |45% |$24.75 |$79.75 |

|D |$73 |45% |$32.85 |$105.85 |

|E |$127 |60% |$76.2 |$203.20 |

|F |$175 |40% |$70 |$245 |

Name ____________________ Class __________ Date __________

Channels of Distribution Organizer

Directions: Provide responses for the listed items.

What are channels of distribution?

__________________________________________________________________________________________________________________________________________________________________________________________________________________

Describe the difference between needs of producers and final consumers that impact the channels of distribution.

Quantity

____________________________________________________________________________________________________________________________________________

Assortment

____________________________________________________________________________________________________________________________________________

Location

____________________________________________________________________________________________________________________________________________

Timing

____________________________________________________________________________________________________________________________________________

Description of the types of channels of distribution

|Direct |Indirect |

| | |

| | |

| | |

| | |

| | |

|Examples: |Examples: |

| | |

| | |

Name ____________________ Class __________ Date __________

Channel the Way Activity

Directions:

First, research one distribution center that is located in and possibly serve your community or state. For the research, you may use the internet, interview representative of distribution centers, and business directories as resources.

Next, make a flowchart of one the goods/products or services made available by this center. The flowchart should consist of the route(s) from the producer to the final consumer.

Name ____________________ Class __________ Date __________

Promotion Organizer

Directions: Provide a response for the listed items.

Describe effective communication:

__________________________________________________________________________________________________________________________________________________________________________________________________________________

Describe the relationship between effective communication and promotion:

__________________________________________________________________________________________________________________________________________________________________________________________________________________

Describe the main types of promotion:

|Personalized |Mass |

| | |

| | |

| | |

| | |

| | |

| |List some types of mass promotion |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

| | |

Name ____________________ Class __________ Date __________

Inform, Persuade, or Remind Me Activity

Directions: Provide a response for the listed items.

Name a good/product or service you are planning to purchase: ______________________________________________________________________

List questions you would ask in order to obtain additional information about the good or service you are interested in purchasing.

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

Which type of promotion would you rely on to obtain more information and state why?

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

Identify some examples of promotion where you find some of your desired good or service. This could be personal or mass promotion. This could be a recording of a personal selling situation, advertisement, publicity, public relations, sales promotion, etc. to gather information. Also identify if each promotion inform, persuade, or remind you about the good/product or service.

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________

ASSESSMENT PROTOTYPES

Note: These assessment prototypes are examples of the types of items included in the item bank. All items are comparable to the cognitive process of the understand verb. Questions require students to demonstrate that they understand the content. Assessment prototypes will not be used on the secured test, but questions in similar formats will be used.

Mary, a marketing research manager, is fortunate to have secured an advertising budget of $30,000. This is an example of which marketing function?

A. Distribution

B. Financing

C. Pricing

D. Selling

ANSWER: B

The average cost for a popular pocketbook is $310. A local company has marked up the selling price by 45%. What is the amount of markup?

A. $45.00

B. $139.50

C. $449.50

D. $549.40

ANSWER: B

Which is an EXAMPLE of personalized promotion?

A. Beck presented a seminar to 3000 people to promote hand-held computers.

B. Jade’s company posted flyers for guest to see about her detox program.

C. Mary test drove several SUV’s at the Infiniti dealership.

D. Whole Foods Company sponsored a health fair.

ANSWER: C

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