Business and Individuals Need Marketing Copyright © Texas Education Agency, All rights reserved.

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Goals for this Lesson Explain why businesses need marketing.Explain why businesses need marketing. Explain why individuals need marketing.Explain why individuals need marketing. Understand how marketing has developed in the business world.Understand how marketing has developed in the business world. Describe the functions of business.Describe the functions of business. 2 Copyright © Texas Education Agency, All rights reserved.

The Need for Marketing Marketing must be carefully planned.Marketing must be carefully planned. Marketing must be coordinated with other business activities.Marketing must be coordinated with other business activities. 3 Copyright © Texas Education Agency, All rights reserved.

The Need for Marketing Individuals must market themselves every day.Individuals must market themselves every day. Marketing involves highlighting strengths about products, businesses, and individuals.Marketing involves highlighting strengths about products, businesses, and individuals. 4 Copyright © Texas Education Agency, All rights reserved.

Marketing and the Development of Business BarteringBartering Specialization of laborSpecialization of labor Money systemsMoney systems Central marketsCentral markets Other marketing activitiesOther marketing activities 5 Copyright © Texas Education Agency, All rights reserved.

The Functions of Business ProductionProduction –Raw materials –Processing –Services OperationsOperations 6 Copyright © Texas Education Agency, All rights reserved.

The Functions of Business Accounting and financeAccounting and finance Management and administrationManagement and administration MarketingMarketing Coordination of business functionsCoordination of business functions 7 Copyright © Texas Education Agency, All rights reserved.

Assignments Assignment #1- BabyBoomer Product Invention Invent 4 products/services Prepare/present PowerPoint Assignment #2 – Marketing to Generation Y Research, identify 30 facts Identify 10 high demand items Identify television commercial Develop a new product or service for Generation Y 8 Copyright © Texas Education Agency, All rights reserved.