Page 117 - Business Studies 11-12 (2006)

116 THE ONTARIO CURRICULUM, GRADES 11 AND 12: BUSINESS STUDIES
The Buying and Selling Processes
By the end of this course, students will:
– explain the factors (e.g., Maslow’s hierar- chy of human needs, consumers’ needs, supply and demand, access to information, media) that affect the buying cycle (i.e., awareness, search, evaluation, trial, pur- chase) in the retail and service industries;
– explain how changing demographics, tastes, preferences, and psychographics of Canadian consumers have influenced their buying decisions (e.g., needs of aging pop- ulation; interest in organic, green, or energy-efficient products);
– apply the AIDA formula to explain the steps in the selling process (e.g., obtain- ing product and customer knowledge, approaching the customer, presenting the product, closing the sale);
– identify various marketing strategies used in the selling process (e.g., discount pric- ing, volume packaging, point-of-sale display, electronic payment systems, online sales).