DECA - Instructional Area: Marketing (MK)

Explain marketing and its importance in a global economy

Marketing allows companies to promote their goods and/or services to their target market Marketing helps inform consumers about what the company offers

Marketing helps create a value equation for the consumer

Describe marketing functions and related activities

Marketing functions include 4 P's (Price, Promotion, Place, Product)

Selling Distribution and storage

Any action taken by company will have consequences (Can be good or bad based on the decision)

Better 4 P's means more customer loyalty

Explain factors that influence customer/client/business buying behavior

Consumer motivation (biological, emotional, rational and social force)

Product quality and if appeals to wants/needs Thorndike's Law of Effect (Pain against pleasure) Position in family life cycle

Discuss actions employees can take to achieve the company's desired results

Create a well-structured plan that will be

Divide the workload so it is easier to handle

Find motivation to get the job done

Create a healthy working space between other employees and boss

Demonstrate connections between company actions and results (e.g., influencing consumer buying behavior, gaining market share, etc.)

Marketing to appeal to their needs

Assessing what they want using their consumer profile

See what they have yet to accomplish based on Maslow's Hierarchy of needs

Create value equation