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Explain the need for professional and ethical standards in marketing
Standards keep marketers honest and legal, protect consumers, and build trust in the business and the industry.
Explain employment opportunities in marketing
Careers include advertising, sales, market research, social media, brand/product management, public relations, and retail merchandising.
Explain the nature and scope of the product/service management function
Obtaining, developing, maintaining, and improving a product/service mix to respond to market opportunities and build the brand.
Identify the impact of product life cycles on marketing decisions
The stages (introduction, growth, maturity, decline) drive pricing, promotion, and distribution choices and whether to modify or drop a product.
Describe the use of technology in the product/service management function
Analytics, CRM, design, and inventory tools track product performance, gather customer feedback, and speed product development.
Explain business ethics in product/service management
Products must be safe, honestly described and labeled, and responsibly made and sold.
Identify product opportunities
Gaps or unmet customer needs that a new or improved product/service could fill.
Identify methods/techniques to generate a product idea
Brainstorming, customer surveys and feedback, trend scanning, competitor analysis, and research and development.
Generate product ideas
Creating new concepts by combining customer needs, market trends, and company capabilities.
Describe the uses of grades and standards in marketing
They classify quality and ensure consistency so buyers can compare products (e.g., USDA beef grades).
Explain warranties and guarantees
Seller promises about product quality/performance with a remedy if it fails; they reduce buyer risk and build confidence.
Identify consumer protection provisions of appropriate agencies
Agencies like the FTC, FDA, and CPSC enforce truthful advertising, safe products, and accurate labeling.
Explain the concept of product mix
All the products a company sells, described by width (number of lines), length (total items), and depth (versions of each).
Describe the nature of product bundling
Selling several products/services together at one price to increase perceived value and sales.
Explain the nature of corporate branding
Building the identity and reputation of the whole company (name, logo, values) rather than a single product.
Describe factors used by businesses to position corporate brands
Reputation, values, quality, social responsibility, differences from competitors, and the target market.
Identify customer touch points
Every point of contact between customer and business: website, store, social media, ads, packaging, customer service.
Describe factors used by marketers to position products/services
Features, price, quality, benefits, competitors, and target market.
Explain the nature of product/service branding
Using a name, logo, and design to identify and differentiate a product, building recognition and loyalty.
Describe the role of customer voice in branding
Reviews, feedback, and social posts shape brand perception and guide brand decisions.
Explain the nature and scope of channel management
Identifying, selecting, monitoring, and evaluating sales channels to get products to customers efficiently.
Explain the nature of channels of distribution
The paths products take from producer to consumer, directly or through wholesalers/retailers.
Describe the use of technology in the channel management function
Inventory tracking, EDI, e-commerce platforms, and analytics help coordinate and monitor channel members.
Explain legal considerations in channel management
Contracts, exclusive dealing, territory restrictions, and antitrust laws affect channel relationships.
Describe ethical considerations in channel management
Treating channel members fairly, dealing honestly, and avoiding coercion or deceptive practices.
Coordinate channel management with other marketing activities
Aligning distribution with product, pricing, and promotion so availability matches the marketing message.
Explain the nature of channel-member relationships
Cooperation, conflict, and power among producers, wholesalers, and retailers, managed through trust and communication.
Explain the nature of affinity partner relationships
Partnerships with organizations that share a customer base (e.g., a co-branded credit card with a sports team).
Describe the need for marketing data
Data reduces risk in decisions by revealing customer needs, competitor actions, and market trends.
Identify data monitored for marketing decision making
Sales, customer demographics, web analytics, competitor activity, and customer satisfaction.
Explain the nature and scope of the marketing-information management function
Gathering, accessing, synthesizing, evaluating, and sharing information to support business decisions.
Explain the role of ethics in marketing-information management
Collecting data honestly, respecting privacy and consent, and not misusing customer information.
Describe the use of technology in the marketing-information management function
Databases, CRM systems, survey tools, and analytics software collect, store, and analyze marketing data.
Describe the regulation of marketing-information management
Privacy and marketing laws (e.g., COPPA, CAN-SPAM, do-not-call rules) limit how customer data is collected and used.
Explain the nature of marketing research
The systematic collection and analysis of information to solve marketing problems and guide decisions.
Discuss the nature of marketing research problems/issues
Research starts by clearly defining the problem: what decision needs information.
Describe methods used to design marketing research studies
Exploratory (clarify the problem), descriptive (describe who/what/where), and causal (determine cause and effect).
Describe options businesses use to obtain marketing research data
Primary research is newly collected for the problem; secondary research uses existing data.
Discuss the nature of sampling plans
Decide who is surveyed, how many, and how they are chosen.
Describe data-collection methods
Observation, mail/phone/internet surveys, diaries, discussion groups, interviews, scanners, and tracking tools.
Explain characteristics of effective data-collection instruments
Valid, reliable, clear, unbiased, and an appropriate length.
Explain techniques for processing marketing data
Editing, coding, tabulating, and analyzing raw data into usable information.
Monitor/measure customer "buzz"
Tracking online mentions, shares, and sentiment to see what people are saying about a brand.
Explain the use of descriptive statistics in marketing decision making
Mean, median, mode, and range summarize data to reveal patterns.
Identify sources of error in a research project
Response errors, interviewer errors, non-response errors, and sample design errors.
Evaluate questionnaire design
Review question types, wording, routing, sequencing, length, and layout for clarity and bias.
Assess appropriateness of marketing research for the problem/issue
Check that methods, sources, and timeliness of information fit the problem.
Explain the concept of marketing strategies
Plans for reaching marketing goals by selecting a target market and combining product, price, place, and promotion.
Explain the concept of market and market identification
A market is a group of people with needs and the ability to buy; identification means pinpointing which group to target.
Explain the nature of marketing planning
The process of setting marketing goals and deciding the strategies and tactics to reach them.
Explain the nature of marketing plans
Written documents covering situation analysis, objectives, strategies, budget, and evaluation.
Explain the role of situation analysis in the marketing planning process
Assessing internal and external factors (e.g., SWOT) to understand where the business stands before planning.
Explain the nature of sales forecasts
Estimates of future sales that guide budgeting, production, and planning.
Explain the nature and scope of the pricing function
Setting and adjusting prices to maximize return and match customers' perceptions of value.
Describe the role of business ethics in pricing
Prices must be honest and fair; avoid deceptive pricing, price gouging, and price fixing.
Explain the use of technology in the pricing function
Software enables dynamic pricing, price tracking, and analysis of competitors and demand.
Explain legal considerations for pricing
Laws prohibit price fixing, price discrimination, predatory pricing, and deceptive pricing.
Explain factors affecting pricing decisions
Costs, demand, competition, perceived value, company objectives, and government regulation.
Explain the role of promotion as a marketing function
Communicating about products, services, images, or ideas to inform, persuade, and remind customers.
Explain the types of promotion (i.e., institutional, product)
Institutional promotion builds the company's image; product promotion sells specific goods/services.
Identify the elements of the promotional mix
Advertising, sales promotion, personal selling, and public relations (publicity).
Describe the use of business ethics in promotion
Promotions should be truthful, not misleading, and respectful of the audience.
Describe the use of technology in the promotion function
Social media, email, mobile, and analytics tools help reach and track target audiences.
Describe the regulation of promotion
Agencies like the FTC regulate advertising claims, endorsements, and unfair or deceptive practices.
Explain types of advertising media
Print, broadcast (TV/radio), digital, outdoor, direct mail, and more.
Describe word-of-mouth channels used to communicate with targeted audiences
Personal recommendations, reviews, social sharing, and influencers.
Explain the nature of direct marketing channels
Reaching customers directly (mail, email, phone, text) without intermediaries.
Identify communications channels used in sales promotion
Coupons, contests, samples, displays, loyalty programs, and special events.
Explain communications channels used in public-relations activities
Press releases, media events, social media, websites, newsletters, and sponsorships.
Explain the components of advertisements
Headline, body copy, visuals, slogan, logo, and call to action.
Explain the importance of coordinating elements in advertisements
Consistent copy, visuals, and tone deliver one clear message and strengthen the brand.
Identify types of public-relations activities
Press releases, community involvement, sponsorships, special events, and crisis management.
Discuss internal and external audiences for public-relations activities
Internal: employees and owners. External: customers, media, community, investors, and suppliers.
Explain the nature and scope of the selling function
Determining client needs and responding with planned, personalized communication that influences purchases.
Explain the role of customer service as a component of selling relationships
Good service builds satisfaction, loyalty, and repeat business.
Explain company selling policies
Rules on returns, pricing, payment, warranties, and guarantees that salespeople must follow and explain.
Explain key factors in building a clientele
Product knowledge, quality service, follow-up, trust, and relationship building.
Explain legal and ethical considerations in selling
Truthful claims, honoring contracts, and following sales laws and regulations.
Describe the use of technology in the selling function
CRM, mobile devices, e-commerce, and digital communication help track, contact, and serve customers.
Acquire product information for use in selling
Learn about products from company materials, manufacturers, training, and hands-on use.
Analyze product information to identify product features and benefits
A feature is a characteristic of the product; a benefit is how it helps the customer.
Explain the selling process
Steps such as preparation, approach, needs determination, presentation, handling objections, closing, and follow-up.
Discuss motivational theories that impact buying behavior
Theories like Maslow's hierarchy explain why customers buy based on needs and motives.
Explain the impact of business customs and practices on global trade
Understanding local customs avoids misunderstandings and helps build business relationships abroad.
Describe the nature of business customs and practices in the North American market
Generally punctual, direct communication, handshakes, and written contracts (general trends; vary by country).
Explain the nature of business customs and practices in Western Europe
Formality, punctuality, and respect for protocol, with differences by country.
Explain the nature of business customs and practices in Eastern Europe
Formal introductions, respect for hierarchy, and importance of building personal relationships.
Explain the nature of business customs and practices in Latin America
Personal relationships and warmth come first; schedules tend to be more flexible.
Describe the nature of business customs and practices in the Pacific Rim
Respect for hierarchy, group harmony, and formal exchanging of business cards.
Discuss the nature of business customs and practices in the Middle East
Relationships and hospitality come before business; respect for religious and cultural customs is essential.
Explain the nature of business customs and practices in South Asia
Respect for hierarchy, strong emphasis on relationships and hospitality.
Describe the nature of business customs and practices in Northern Africa
Courtesy, relationship building, and awareness of Islamic observances and local etiquette.
Discuss the nature of business customs and practices in Sub-Saharan Africa
Highly diverse region; personal relationships and respect for elders and status are important.
Analyze the impact of technology on marketing
Technology enables targeting, personalization, automation, and measurable results across digital channels.
Use software to automate services
Tools (e.g., email automation, chatbots, scheduling) handle repetitive marketing tasks efficiently.
Use analytical tracking tools
Tools like web analytics measure traffic, engagement, and conversions.
Use analytical software (e.g., SPSS, SAS, Excel, etc.)
Programs that organize and analyze data to find patterns and support decisions.
Determine sources of relevant, new marketing data
Identify fresh data from surveys, social media, customer records, analytics, and industry reports.
Evaluate options to purchase or sell marketing data
Weigh cost, quality, relevance, privacy laws, and ethics when buying or selling data.
Maintain security of marketing data
Use passwords, encryption, and access limits to protect customer and company data.