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Business Education

Standard 43.Understands the roles of marketing and the impact of marketing on the individual, business, and society
  Level IV (Grade 9-12)
   1. Understands how the market system operates as an independent, price-directed system of exchange that satisfies needs and wants
   2. Knows how the marketing environment affects peoples’ lifestyles, standards of living, and preferences
   3. Knows the major types of markets in the American economy (e.g., consumer market, including individuals and households; industrial market, including producers, resellers, and government; non-business organization market, including churches, civic and professional groups, and charitable organizations)
   4. Understands the role of marketing in providing form, time, place, possession, and information utility (e.g., form utility is added to products when they are prepared and displayed for sale, time utility is added to products by making them available when needed, place utility is added to products by having them available where needed, possession utility is added by transferring ownership to the customer, information utility is added by allowing two-way communication between the seller and the buyer)
   5. Knows marketing functions (e.g., distribution, financing, marketing-information management, pricing, product planning, promotion, purchasing, risk management, selling) and how they contribute to the marketing concept
   6. Understands the role of marketing in business and non-business organizations