1004. Name the Functions Activity

The “Name the Functions” activity is designed to help the student to become familiar with the 7 marketing functions. It’s a great assignment to support your discussion of the marketing concept.

RESOURCE INFORMATION 

TIME

The estimated time to complete the assignment is 15 minutes.

 PRODUCT CONTENT

• Instructions
• 1 Handout
• Grading Key

MARKETING STANDARDS

TEKS

§130.382. Advertising

(2) The student knows the importance of marketing as well as the functions of marketing. The student is expected to:

• (A) recognize marketing functions and how they relate to advertising;
• (B) explain how each component of the marketing mix contributes to successful advertising;
• (C) identify the importance of target markets; and
• (D) research trends affecting advertising marketing

(7) The student understands the importance of selling in the advertising industry. The student is expected to:

• (A) explain how selling contributes to the success of an advertising agency; and
• (B) employ the steps of selling, including prospecting, pre-approach, approach, presentation, overcoming objections, close, and follow-up.

(10) The student knows the marketing-information system. The student is expected to:

• (A) explain characteristics and purposes of a marketing-information system;
• (B) identify benefits and limitations of marketing research; and
• (C) analyze data used to make accurate forecasts.

(11) The student knows pricing policies, objectives, and strategies. The student is expected to:

• (A) compare and contrast pricing policies; and
• (B) analyze the price of an advertising marketing product.

§130.384. Entrepreneurship

(12) The student knows the importance of managing the pricing structure. The student is expected to:

• (A) communicate the differences among pricing structures for goods, services, and ideas;
• (B) develop a pricing structure for an entrepreneurial venture; and
• (C) demonstrate how to calculate prices, markups, and discounts.

(13) The student knows elements and processes of product planning. The student is expected to:

• (A) explain the nature and scope of product planning;
• (B) define the term product mix; and
• (C) identify stages of the product life cycle for business products.

(22) The student knows the scope and nature of distribution. The student is expected to:

• (A) define effective channels of distribution strategies, including activities associated with transportation, storage, product handling, and inventory control;
• (B) explain how distribution can add value to goods, services, and intellectual property; and
• (C) determine costs associated with distribution.

(24) The student knows the process of collecting marketing information to facilitate decision making. The student is expected to:

• (A) conduct a market analysis;
• (B) use appropriate technology to obtain information about the industry, customer, and competition; and
• (C) conduct an analysis of strengths, weaknesses, opportunities, and threats.

§130.386. Sports and Entertainment Marketing

(3) The student knows the importance of marketing as well as the functions of marketing. The student is expected to:

• (A) explain the marketing concept as it relates to sports and entertainment;
• (B) describe each marketing function and how it relates to sports and entertainment;
• (F) explain the importance of market research and analysis;
• (G) illustrate the concept of positioning; and

(6) The student knows the marketing-information system. The student is expected to:

• (A) use a marketing-information system to make informed business decisions; and
• (B) analyze data used to make accurate forecasts and informed business decisions.

(7) The student knows pricing strategies. The student is expected to:

• (A) compare and contrast pricing strategies; and
• (B) analyze the price of sports and entertainment marketing products.

(8) The student knows the elements and processes of product planning. The student is expected to:

• (A) describe stages of new-product planning;
• (B) illustrate the product mix; and
• (C) identify stages of the product life cycle for new or existing sports or entertainment marketing products.

(12) The student identifies the nature and scope of sports and entertainment marketing. The student is expected to:

• (G) explain the concept of competition for discretionary income.

(14) The student knows that private enterprise is based on independent decisions by businesses and limited government involvement. The student is expected to:

• (C) identify examples of competitive business situations such as price or nonprice competition.

§130.383. Fashion Marketing

(2) The student knows the importance and functions of marketing. The student is expected to:

• (A) describe each marketing function and how it relates to the fashion industry;
• (B) describe advantages and disadvantages of market segmentation and mass marketing; and
• (C) research trends affecting fashion marketing

(6) The student knows the marketing-information system. The student is expected to:

• (A) define the purpose of marketing-information systems;
• (B) identify limitations of marketing research;
• (C) explain how inventory can be managed by using tools such as point-of-sale systems, just-in-time strategies, and radio frequency identification (RFID) technology; and
• (D) analyze data used to make accurate retail forecasts.

(7) The student knows concepts and strategies used in determining and adjusting prices to maximize return and meet customers' perceptions of value. The student is expected to:

• (A) employ pricing strategies to determine prices;

(8) The student knows merchandising concepts and processes used in obtaining, developing, maintaining, and improving a product or service to respond to marketing opportunities. The student is expected to:

• (A) use assortment-mix strategies to create maximum mix of products at minimum cost;

(11) The student demonstrates an understanding of concepts and actions to determine client needs and wants. The student is expected to:

• (A) acquire product knowledge to communicate product benefits and to ensure appropriateness of product for the customer; and
• (B) employ sales processes and techniques to enhance customer relationships and to increase the likelihood of making sales.

TERMS OF USE