Marketing Foundations 1a - VLACS
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Status

Open

Estimated Completion Time

18 weeks

Overview

Marketing Foundations 1a: Introduction
Welcome to the fast-paced and exciting world of marketing! You will learn about the role of marketing in business in addition to the basics of business management, customer service, and economics. Also, you will examine how to identify target markets, perform market research, and develop successful marketing strategies. Finally, the legal and ethical considerations of business and marketing are discussed along with the impact of government on business.

Major Topics and Concepts

Unit 1: Foundations of Marketing
Identify and explain the four foundations of marketing
Differentiate among the three basic categories of consumer goods
Recognize the role of marketing in a free enterprise system
Explain how brands use market segmentation to reach the right people in a market
Understand how businesses use the SWOT framework to identify internal and external factors affecting their brand

Unit 2: The Role and Function of Marketing in Business
Explain the different marketing functions
Elaborate the major fields of business activity
Identify the marketing concepts and their impact on the economy
Describe the nature and scope of marketing
Differentiate marketing and merchandising of products and services

Unit 3: Marketing and Economics
Demonstrate an understanding of basic economic concepts, economic systems, cost-profit relationships, economic indicators and trends, and international concepts
Explain concepts of economic goods and services
Identify the major types of economic resources and explain the importance of each to marketing
Distinguish between various economic systems and the effects on what will be produced, how it will be produced, and for whom it will be produced

Unit 4: Business Ownership and Government Regulations
Explain the relationship between government and business
Identify, explain, compare, and contrast the different types of business ownership
Evaluate governmental and trade regulations affecting business and marketing efforts
Outline steps in planning a new businessIdentify components of Gross National Product (GNP) and Gross Domestic Product (GDP)

Unit 5: Legal Issues and Ethics
Discuss ethical issues in business as they relate to marketing
Recognize legal and ethical considerations in promotion
Analyze the role of ethics as it relates to marketing information management
Evaluate legal and ethical considerations in the distribution process

Unit 6: The Impact of Finance on Marketing
Explain the nature and scope of finance in marketing
Describe the difference between business finance and customer credit
Explore the various types of financial records that should be analyzed in making marketing decisions
Identify various types of credit policies and procedures

Unit 7: The Importance of Market Research
Trace the steps in designing and conducting research
Compare and contrast tools for conducting and analyzing marketing research
Explain the use of descriptive statistics in marketing decision making
Identify the trends and limitations in marketing research

Unit 8: Marketing Concepts and Plans
Develop a marketing campaign and write a marketing plan
Employ processes and techniques to develop, maintain, and improve a product/service mix to utilize market opportunities
Implement the concepts, systems, and tools needed to gather, access, synthesize, evaluate and disseminate information for use in making business marketing decisions
Explain concept of marketing strategies

Credits .5

Competencies

  • Marketing Foundations and Functions in Business
    Students will demonstrate an understanding of marketing foundations and functions by explaining the foundations of marketing, the categories of consumer goods, the principles of target marketing, the economic impact of marketing, and marketing's function in business.
  • Marketing, Economics and Government Regulation
    Students will demonstrate an understanding of the relationship between marketing, economics and government regulations by examining the connections between marketing and economic concepts and the effects of government regulation on business and marketing
  • Legal Issues and Ethics in Marketing
    Students will demonstrate an understanding of legal issues and ethics in marketing by investigating and explaining ethical and legal issues related to marketing, promotion and distribution of products and services and information management.
  • Finance‚Äôs Impact on Marketing
    Students will demonstrate an understanding of finances' impact on marketing by differentiating between business finance and consumer credit, exploring financial records related to marketing decisions, and identifying various types of credit policies and procedures.
  • Market Research, Concepts and Plans
    Students will demonstrate an understanding of market research, concepts and plans by investigating and explaining the market research process, comparing the tools and techniques involved and developing a marketing plan.

Pre-Requisites

None

Attend an open house

We offer regular online open house webinars where VLACS staff members provide parents and students with an overview of our programs and answer questions about online learning.