New Hampshire Marketing Education Guidelines
New Hampshire Frameworks Science Standards
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New Hampshire FrameworksScience Standards
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Statement of Standards MARKETING EDUCATION Statement of Standards for the Foundations of Marketing Education The following foundations are fundamental to a solid awareness of the economic environment in which businesses operate. The developing Marketing student will display an awareness of these foundations in order to apply specific Marketing concepts to business decisions and activities. These foundations also supply Marketing students with the tools required to evaluate business activities and become responsible economic citizens regardless of their career selection. Mastery of these foundations ensures that students will see the relevance of content-specific Marketing concepts, and, as such, can be considered prerequisite and inclusive to the study of Marketing. ECONOMICS Students will learn the market fundamentals of price determination, supply and demand, the interaction of the capital, labor and consumer markets, and the role of government in the marketplace. Since all business activity is affected by economic conditions, students will demonstrate their understanding of economic trends and indicators as they would apply to marketing decisions. Students will also learn the implications of the business cycle relative to economic health and what marketing opportunities or cautions exist relative to the specific cycle. BUSINESS, MANAGEMENT, AND ENTREPRENEURSHIP The existence of businesses as entities established to deliver profit to the owners will be learned here especially as these entities relate to financial risk, regulation, and organization in a market economy. The role of management within the business organization will be developed with emphasis upon the task of motivating employees and planning for future business activities Students will learn the role of profits and business expansion, economies of scale, productivity increases though the use of technology, and the importance of business efficiencies in a competitive marketplace. PROFESSIONAL DEVELOPMENT Crucial to the development of an effective future employee, students will learn the basics of self-knowledge and the tools of self-development in order to choose a satisfying and productive vocation. Students will review careers and the skills and interests that are engaged for each career area. Emphasis will also be on learning the job seeking skills required to pursue a job in a chosen field and job keeping skills including employer/employee relations and continuing skill development as an employee. COMMUNICATION AND JOB SEEKING SKILLS As a follow-up to professional development, students will learn the importance of effective communication when dealing with customers, employees, and supervisors. Students will evaluate communications fundamentals and apply these fundamentals to the importance of group/team relationships, conflict resolution, and professionalism in the workplace. MARKETING EDUCATION (cont.) Statement of Standards for the Functions of Marketing Education The functions of Marketing Education refer to the concepts and disciplines of marketing as it applies to business activity and the vital role marketing plays in the success of business in a free enterprise economy. As a vastly encompassing endeavor, marketing includes all of the activities that occur from product production to consumption. The knowledge and coordination of all these activities requires the student to be versed in each one and understand the implications of each one as it may apply to another and the entire marketing effort. PRODUCT/SERVICE MANAGEMENT Central to the production function of any business, students must know the relative maturity of the product/service being considered as well as its position relative to the competition. Students will demonstrate their understanding of product planning as it relates to profitability, distribution, life cycle, and strategies to maintain sales and its relation to other products within the business' product portfolio. Students will also identify sources of product ideas, services necessary to support the product offering, and future plans for adjusting the product offering as it may relate to innovations or new product introductions. FINANCING As the lifeblood of business, students will recognize the importance of raising capital as it relates to financial decisions as well as the ongoing importance of funding business activities. Students will identify prudent accounting basics and be able to explain the concepts of net worth and business valuation including the concept of brand equity, goodwill, and the importance of retained earnings. Students will also be able to explain the strategies behind the financing of consumer purchases, bulk purchasing, and time valuation in relation to vendor purchases. MARKETING INFORMATION MANAGEMENT Students will demonstrate the importance of research as it relates to business success in a highly competitive market. They will demonstrate a variety of the types of information available, how to gather it, and how to interpret it in a usable fashion. They will then explain how to use this information for the purposes of marketing, planning, and risk management. PRICING Students will be able to explain the need for profits and how the pricing function is directly related to return-on-investment. They will understand the concept of perceived value, mark-up, and price reductions as they relate to product planning (life cycle), positioning, and the marketplace. Students will also demonstrate an understanding of how price helps determine what is produced and how a business uses price leadership to build success or failure in the marketplace. DISTRIBUTION In a convenience oriented market, students will demonstrate their understanding of packaging and portioning to the distribution process as well as their knowledge of relative costs in the distribution process. Using the concept of perceived value, they will identify the three basic distribution strategies and identify which products fit each strategy. They will also identify the concepts of inventory management, transportation costs, and the operations of order fulfillment. PROMOTION Probably the most visible of marketing activities, students will be able to discern the differences between advertising, publicity, and sales promotion as well as the strategic elements of an overall promotional plan. Students will identify the strategies of reaching target markets through the use of media, the value of positive PR, and the importance of sales promotion to support advertising expenditures. Students will demonstrate the value of advertising and promotional efforts in relation to brand equity, consumer awareness, and the support of premium prices. SELLING Personal Selling, as a unique part of promotional efforts, will be explained by students as an effort to communicate the benefits of a product/service to the potential customer on a person to person basis. Students will be able to explain the importance of product knowledge and its use in a need benefit analysis when determining customer needs. Presentation and questioning/answering techniques will be explained by students as a means to build customer interest, confidence, and conviction in the purchase of a product as well as the importance of suggestion selling to promote customer satisfaction. Competency Program Profile Career Technical Education High Performance / Employability Skills COMPETENCY PROGRAM PROFILE CAREER TECHNICAL EDUCATION HIGH PERFORMANCE / EMPLOYABILITY SKILLS PROGRAM:
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