Page 116 - Business Studies 11-12 (2006)

MARKETING: RETAIL AND SERVICE, GRADE 11, WORKPLACE PREPARATION (BMX3E) 115
Marketing Fundamentals
Overall Expectations
By the end of this course, students will:
• assess how the marketing mix is applied in the retail and service industries;
• assess how consumer characteristics and preferences affect retail and service activities; • identify and explain the factors that affect competition;
• analyse the process of buying and selling in the
Specific Expectations
The Marketing Mix
By the end of this course, students will:
– identify the four parts of the marketing mix (product, price, place, and promotion) and describe how they influence market- ing activities (e.g., selling, advertising, cus- tomer service, distribution, promotion);
– describe the types of products (e.g., goods, services; durable, non-durable) offered by retail and service businesses;
– identify pricing policies (e.g., supersizing, combo pricing, loss leaders, skimming) used by retail and service businesses;
retail and service industries.
– summarize changes in lifestyles and con- sumer needs and wants over the past few decades and explain their impact on retail and service businesses (e.g., changing gen- der roles, consumer demand for fast food, use of portable communication and enter- tainment devices);
– select an appropriate marketing research tool (e.g., survey, questionnaire, taste test) and implement it to measure consumer preference for a particular product.
Competition
By the end of this course, students will:
– compare the various channels of distribu- – tion (e.g., direct, indirect, integrated, spe-
cialty) and the modes of delivering goods
to market (e.g., air, land, sea, electronic);
– compare ways of promoting a selected – product to different market groups, using examples of a variety of retail promotional techniques (e.g., newspaper and magazine
ads, flyers, brochures, coupons).
Consumers
By the end of this course, students will:
– identify the consumer groups (e.g., baby boomers, women, seniors) that use specific retail and service businesses;
identify types of competition (e.g., direct, indirect, foreign, multinational) and describe their effect on consumer and business behaviour;
explain how retail or service businesses in a specific sector (e.g., fast food chains, beverage industry, department stores, air- line industry) compete with one another to attract customers and increase market share (e.g., through price wars, reward programs, customer service);
– compare examples of credit and payment policies offered by competing retail and service businesses to attract customers.