Part 1: Read The Chapter & Take The Quizzes
Directions: Read chapter 2-1 (pages 36-40) of the textbook. You will be quizzed on each section below. You can only take the quiz once.
Chapter 2-1 Section 1 Marketing Affects Businesses
Summary of "Marketing Affects Businesses":
- Critical Role of Marketing: Marketing is essential for helping businesses find customers and sell their products and services. It plays a key role in exchanging products for money and involves activities such as distribution, financing, and promotion. Businesses that adopt the marketing concept benefit even more by understanding and catering to customer needs through research and tailored offerings.
- Customer Satisfaction: Marketing is crucial for meeting customer wants and needs, which helps businesses make informed decisions about what to sell and how to sell it. When businesses meet customer expectations, it builds loyalty and ensures ongoing purchases, making marketing a vital component of business success.
Directions: Preview the questions below and take the quiz on Schoology
Chapter 2-1 Section 2 Marketing Helps People
Summary of "Marketing Helps People":
- Improved Consumer Experience: Marketing enhances the exchange between businesses and consumers by making products easier to find, ensuring affordability, and offering convenient payment options, leading to customer satisfaction and business success.
- Lower Costs and Better Products: Marketing drives product improvement and innovation by evaluating consumer preferences. This leads to increased sales, more efficient production, and lower costs, as seen with the evolution of personal computers.
- Expanded Job and Skill Opportunities: Marketing provides a wide range of job opportunities and helps individuals develop valuable skills that can be applied to personal and professional goals, offering rewarding careers and the ability to achieve success in various areas.
Directions: Preview the questions below and take the quiz on Schoology
Chapter 2-1 Section 3 Marketing Benefits Society
Summary: Marketing Benefits Society
- New and Better Products:
Marketing drives the development of innovative products that benefit society, such as more efficient automobiles, biodegradable products, and safety items like airbags and helmets. It ensures businesses meet consumer demand while encouraging efficient use of natural resources. - Improved Standards of Living:
Marketing enhances living standards by making more and better products available to consumers. It also creates jobs and increases wages, contributing to a higher quality of life in countries with well-developed marketing systems. - Boosts International Trade:
Marketing plays a critical role in expanding international trade by helping businesses navigate different markets. It addresses challenges related to shipping, customer service, and promotion in diverse cultural and economic environments, facilitating global commerce.
Directions: Preview the questions below and take the quiz on Schoology
Part 2: Videos To Assist With Worksheet
Directions: After you take the quiz, Mr. Kazanjian will give you the worksheet.
Worksheet Question 1.) Explain how marketing affects businesses.
Worksheet Question 2.) Describe marketing’s impact on individuals.
Worksheet Question 3.) Discuss ways marketing benefits society.