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Topic: Components and strategies of effective marketing  

Business Education

 Standard 47.  Understands components and strategies of effective marketing plans (e.g., product development, pricing, distribution processes and methods, forms of promotion)
  Level IV (Grade 9-12)
   Benchmark 1.Knows components of the marketing mix (i.e., product, price, promotion, place) and how they contribute to successful marketing
    Knowledge/skill statements
     1.Knows products are a component of the marketing mix
     2.Knows price is a component of the marketing mix
     3.Knows promotion is a component of the marketing mix
     4.Knows place is a component of the marketing mix
     5.Knows how products contribute to successful marketing
     6.Knows how price contributes to successful marketing
     7.Knows how promotion contributes to successful marketing
     8.Knows how place contributes to successful marketing
   Benchmark 2.Develop a marketing plan (e.g., describes the target market, states the marketing objectives, identifies the competition, describes the marketing environment, details each element of the marketing mix, develops a budget)
    Knowledge/skill statements
     1.Develops a marketing plan
     2.Describes the target market in a marketing plan
     3.States the marketing objectives in a marketing plan
     4.Identifies the competition in a marketing plan
     5.Describes the marketing environment in a marketing plan
     6.Details each element of the marketing mix in a marketing plan
     7.Develops a budget in a marketing plan
   Benchmark 3.Understands factors to be considered in product/service planning (e.g., product mix, packaging considerations, positioning/image, quality assurance such as warranties and service contracts)
    Knowledge/skill statements
     1.Understands factors to be considered in product planning
     2.Understands factors to be considered in service planning
     3.Understands product mix is a factor to be considered in product planning
     4.Understands packaging considerations are a factor to be considered in product planning
     5.Understands positioning is a factor to be considered in product planning
     6.Understands image is a factor to be considered in product planning
     7.Understands quality assurance, such as warranties, is a factor to be considered in service planning
     8.Understands quality assurance, such as service contracts, is a factor to be considered in service planning
   Benchmark 4.Understands pricing objectives, policies, and strategies, and factors that affect selling price (e.g., psychological effects, break-even point, retail decisions, competition, image, supply and demand, mass production, price elasticity)
    Knowledge/skill statements
     1.Understands pricing objectives that affect selling price
     2.Understands policies that affect selling price
     3.Understands strategies that affect selling price
     4.Understands factors that affect selling price
     5.Understands break-even point affects selling price
     6.Understands retail decisions affect selling price
     7.Understands competition affects selling price
     8.Understands image affects selling price
     9.Understands supply and demand affects selling price
     10.Understands mass production affects selling price
     11.Understands price elasticity affects selling price
     12.Understands psychological effects affect selling price
   Benchmark 5.Knows various channels of distribution (e.g., agents, brokers, retailers, wholesalers) and factors to be considered when selecting them (e.g., nature of the product, size/location of the market, availability of channel members, ability to manage marketing activities)
    Knowledge/skill statements
     1.Knows various channels of distribution
     2.Knows agents as a channel of distribution
     3.Knows brokers as a channel of distribution
     4.Knows retailers as a channel of distribution
     5.Knows wholesalers as a channel of distribution
     6.Knows factors to be considered when selecting various channels of distribution
     7.Knows a factor to consider when selecting channels of distribution is the nature of the product
     8.Knows a factor to consider when selecting channels of distribution is the size of the market
     9.Knows a factor to consider when selecting channels of distribution is the location of the market
     10.Knows a factor to consider when selecting channels of distribution is the availability of channel members
     11.Knows a factor to consider when selecting channels of distribution is the ability to manage marketing activities