1. Business and Individuals Need Marketing Copyright © Texas Education Agency, 2011. All rights reserved.

2. Copyright and Terms of Service Copyright © Texas Education Agency. The materials found on this website are copyrighted © and trademarked ™ as the property of the Texas Education Agency and may not be reproduced without the express written permission of the Texas Education Agency, except under the following conditions: 1)Texas public school districts, charter schools, and Education Service Centers may reproduce and use copies of the Materials and Related Materials for the districts’ and schools’ educational use without obtaining permission from the Texas Education Agency; 2) Residents of the state of Texas may reproduce and use copies of the Materials and Related Materials for individual personal use only without obtaining written permission of the Texas Education Agency; 3) Any portion reproduced must be reproduced in its entirety and remain unedited, unaltered and unchanged in any way; 4) No monetary charge can be made for the reproduced materials or any document containing them; however, a reasonable charge to cover only the cost of reproduction and distribution may be charged. Private entities or persons located in Texas that are not Texas public school districts or Texas charter schools or any entity, whether public or private, educational or non-educational, located outside the state of Texas MUST obtain written approval from the Texas Education Agency and will be required to enter into a license agreement that may involve the payment of a licensing fee or a royalty fee. Copyright © Texas Education Agency, 2011. All rights reserved.

3. 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, 2011. All rights reserved.

4. 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, 2011. All rights reserved.

5. 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, 2011. All rights reserved.

6. 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, 2011. All rights reserved.

7. The Functions of Business ProductionProduction –Raw materials –Processing –Services OperationsOperations 6 Copyright © Texas Education Agency, 2011. All rights reserved.

8. 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, 2011. All rights reserved.

9. 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, 2011. All rights reserved.