Marketing

Case

Specific cases are given during the conference. The case will be a Problem or a Scenario encountered in the banking or financial business community.

Event Introduction

Marketing is a ‘Collaborative Object Test and Role Play Event’. These events consist of two parts: an objective test and an interactive role play. 

Scroll down for object test subtopics.  

 

Guidelines

Two 4″ by 6″ not cards will be provided to each competitor and may be used during event preparation and performance. Information may be written on both sides of the note cards. Note cards will be collected after the presentation. 

No Additional Reference Materials Allowed 

Prep Time: 20 minutes

Performance Time: 7 minutes 

Subtopics

1.        Analyze the differences between a production-oriented company, a sales-oriented company, and a marketing-oriented company.

2.        Explain the marketing concept and describe the benefits of marketing and their importance.

3.        Explain the functions involved in marketing goods and services.

4.        Identify, explain, compare, and contrast the different types of business ownership (e.g., sole-proprietorship, partnership, corporation, franchise, and licensing).

5.        Identify the elements of the marketing mix (e.g., product, price, place, and promotion) and describe its contribution to successful marketing.

6.        Explain the concept of product mix and describe types of product mix strategies for various product classifications.

7.        Describe the process for new product and service development (e.g., conception, development, and test marketing).

8.        Explain the advantages and disadvantages of extending product lines and of product line diversification.

9.        Examine the legal aspects of product development (e.g., patents, copyrights, and trademarks).

10.     Explain the functions of packaging and why each is important.

11.     Describe the importance of branding, packaging, and labeling.

12.     Describe factors (e.g., features/benefits, price/quality, competition) used by marketers to position product/business.

13.     Identify and explain the factors that influence a product’s price (e.g., cost, quality, competition, and brand loyalty).

14.     Explain how consumer practices (e.g., shoplifting, improper returns, and product liability claims) affect prices.

15.     Explain ways that government regulations/laws affect pricing practices (e.g., price discrimination and collusion).

16.     Describe the influences of supply and demand on pricing and the concept of price elasticity.

1.        Explain the concept of distribution and identify the channels of distribution.

2.        Examine direct and indirect channels of distribution (e.g., wholesaler, agent, and broker) and when each is most appropriate to use.

3.        Identify the most efficient means (e.g., cost benefit analysis) for distributing different types of products and services.

4.        Identify shipping and receiving processes.

5.        Explain the transportation systems and services (e.g., motor, rail, water, air) used in distribution.

6.        Explain storing (e.g., cold storage, commodity, bulk) and warehousing options (e.g., distribution centers, public, and private) and procedures to store merchandise until needed.

7.        Describe the methods of handling merchandise and inventory control.

1.     Describe the impact of specific marketing regulations/laws on both domestic and international business.

2.     Identify ethical issues and their impact on marketing.

3.     Describe the ways in which special interest groups (e.g., pressure from government and labor groups) and changing cultural characteristics (e.g., aging population, single-person households, and mobility) influence marketing.

4.     Explain the social responsibility (e.g., environmental issues, ethical decisions, community involvement) of marketing in society.

5.     Discuss the role of federal regulatory agencies (e.g., Food and Drug Administration, Consumer Product Safety Commission, Environmental Protection Agency).

1.        Explain the role of promotion as a marketing function and identify the major purpose of advertising.

2.        Identify major promotional activities used in marketing and the benefits of each.

3.        Identify the advantages and disadvantages of each type of advertising and promotional media.  (e.g., radio, television, direct mail, outdoor, and newspaper).

4.        Identify ethical issues (e.g., false and misleading advertising, copyright infringement, and age group discrimination) in marketing.

5.        Identify various forms and purposes of sales promotion (e.g., sweepstakes, coupons, contests, and specialty products).

6.        Explain the concept of promotional mix and identify the elements of the promotional mix (i.e., advertising, publicity, sales promotion, and personal selling).

7.        Explain concept and purpose of visual merchandising, display and trade shows to communicate with targeted audiences.

1.        Identify the reasons for conducting market research.

2.        Explain marketing research methods and procedures.

3.        Identify sources of primary and secondary data.

4.        Identify ways to obtain market data for market research (e.g., surveys, interviews, and observations).

5.        Explain the concept of target markets and market segmentation (e.g., demographics, psychographics, and geographic) and describe how it is used.

6.        Explain why a marketing plan is essential and identify the components of a marketing plan.

7.        Describe how marketing information is used in business decisions.

1.        Identify ways that technology including the Internet impacts marketing.

2.        Explain the impact of the Internet on marketing.

3.        Identify online shopping techniques for sales and purchasing.

4.        Discuss the role e-commerce will play in the marketing of goods and services.

5.        Explain considerations in Web site pricing.

6.        Explain how a Web site presence can be used to promote a business or product.

1.        Analyze the impact of changing economic conditions on marketing strategies.

2.        Explain the concept of competition and describe ways competition affects marketing decisions.

3.        Distinguish between consumer and capital economic goods and services.

4.        Explain the concept and characteristics of private/free enterprise.

5.        Explain the concept of profit in private enterprise and identify factors (e.g., economics, human, and nature) affecting a business’ profit.

6.        Explain the concept of economic resources (e.g., land, labor, capital, and entrepreneurship).

7.        Explain the principles of supply and demand.

8.        Compare and contrast the types of economic systems (e.g., capitalism, socialism, and communism).

9.        Identify and examine economic indicators and business cycles (e.g., GDP, GNP, and Consumer Price Index).

10.    Explain the concepts of scarcity and elasticity of demand.

11.    Discuss balance of trade, trade barriers, and concepts of tariffs.

12.    Describe the importance of marketing in a global economy.

1.        Describe the purpose and importance of selling.

2.        Describe the concepts and techniques used in selling and explain the steps in the selling process.

3.        Demonstrate the ability to translate product knowledge/customer service information into customer benefits.

4.        Explain the factors that influence customer buying motives and decisions.

5.        Explore the ethical issues involved in selling (e.g., high pressure sales and misrepresenting product information).

6.        Examine the role of salespersons in building customer relationships.

7.        Demonstrate completing the sales transaction, including method of payment and counting back change; the proper way to fold, wrap, and bag merchandise after a sale; and thanking customers and inviting them to return.

8.        Apply appropriate methods of handling customer inquiries, complaints, or difficult situations.

9.        Identify consumer protection agencies (e.g., FTC, Better Business Bureau, and Consumer Product Safety Commission) and explain their services.

10.     Identify examples of service extensions (e.g., product warranty, technical support, or service contract).