Exploring Business and Marketing
Course Introduction
Core Standards of the Course
Strand 1
Economic Principles - Students will explore the basic economic principles, resources, and their effect on business decisions.
Strand 2
Business Management - Students will explore how the connection between the structure of business ownership, ethics, intellectual property, and leadership work together to manage resources and employees.
Standard 1
Business Ownership - Students will identify types of businesses, characteristics, advantages, and disadvantages of each.
Standard 2
Business Law and Ethics - Students will be able to analyze ethical and legal conduct in a business.
Standard 3
Intellectual Property - Students will be able to recognize how using intellectual property of others can have legal ramifications.
Standard 4
Leadership - Students will identify leadership styles, strategies, and opportunities
Performance Skills
Students will present to the class about a company or a practice that is unethical/illegal.
Strand 3
Entrepreneurship Principles - Students will determine skills and characteristics of entrepreneurs and explore entrepreneurial opportunities.
Standard 1
Students will be able to:
Performance Skills
Develop a business venture to be used in an entrepreneurial simulation
Strand 4
Marketing Principles - Students will be able to define the marketing mix (product, price, place, promotion) as strategies that a company can implement to influence demand for its product. Students will understand the concepts needed to market products to achieve a desired outcome.
Standard 1
Product - students will understand that "product" in marketing is defined as the process of promoting and sell-ing a consumer good, service or idea to a customer. Students will research examples of how a product relates to a companies marketing strategies:
Standard 2
Place - students will understand that "place" in marketing is defined as the strategy a company uses to distribute its products and services in an attempt to gain consumer purchases. This component of the 4Ps is sometimes referred to as the distribution strategy and may include stores, both physical and online, and any other means by which the company can reach customers. Students will research examples of how a product relates to a companies marketing strategies:
Standard 3
Price - students will understand that "price" in marketing is defined as the current price at which a product can be bought or sold. Students will research examples of how price relates to a company's marketing strategies:
Standard 4
Promotion - students will understand that "promotion" in marketing is defined as any type of communication used to inform, persuade, or remind consumers about a company's product. Students will research examples of how promotion relates to a company's marketing strategies:
Standard 5
Target Markets - students will understand that "target market" in marketing is defined as a group of potential customers to whom a company wants to sell its products and services. Students will define and research different examples of:
Performance Skills
Students will apply the marketing principles they have learned by creating advertising media such asbut not limited to: (business cards, blogs, websites, billboards, posters, magazine, newspaper ads,brochures, fliers, swag or promotional items)
Strand 5
Accounting - students will understand basic accounting concepts.
Standard 1
Accounting equation - Students will recite the accounting equation: Assets = Liability + Owner's Equity
Standard 2
Students will analyze and interpret financial statements.
Performance Skills
Prepare a budget: An estimate of income and expenditure for a set period of time
Strand 6
Employability - students will develop and demonstrate the necessary skills to gain and keep employment.
Standard 1
Job Skills - Students will develop skills to gain employment.
Standard 2
Soft Skills - Throughout the course, students will exhibit proficiency in soft skills that are necessary in a business setting.
Strand 7
Stock Market - Students will understand basic principles of investing.
Performance Skills
Simulate the buying and selling of stock.
http://www.uen.org - in partnership with Utah State Board of Education (USBE) and Utah System of Higher Education (USHE). Send questions or comments to USBE Specialist - Racheal Routt and see the CTE/Business, Finance and Marketing website. For general questions about Utah's Core Standards contact the Director - THALEA LONGHURST. These materials have been produced by and for the teachers of the State of Utah. Copies of these materials may be freely reproduced for teacher and classroom use. When distributing these materials, credit should be given to Utah State Board of Education. These materials may not be published, in whole or part, or in any other format, without the written permission of the Utah State Board of Education, 250 East 500 South, PO Box 144200, Salt Lake City, Utah 84114-4200.