Business and Marketing Education

investor. ●​ Identify potential ways to start a business: ○​ Start-up : A new business that has a fresh idea and aims to grow quickly. ○​ Buy an existing business ○​ Buy a franchise : A Business arrangement allowing individuals to operate under an established brand, using its systems. Standard 3: Sales Explain the following steps of the selling process, including: 1.​ Identify potential customer messages a.​ Determine possible consumer motivations of potential customers (e.g., rational, emotional, patronage, prestige, convenience, impulse) 2.​ Approach and engage the customer a.​ Dress, speech, conversation, and connecting with the customer 3.​ Determine customer needs by asking helpful questions a.​ Open-ended questions, listening & communication skills, body language & facial expressions 4.​ Present the product (both features and benefits) a.​ Demonstrate a clear understanding of the product or service, show graphics, or create helpful sales materials to compare features. 5.​ Overcome the customer’s objections by going back through the benefits to the customer. a.​ Display empathy while communicating, also restating the value of the product or service. 6.​ Close the sale by converting the potential customer into a customer sale a.​ Ask for the sale directly

END OF UNIT COMPETENCY WITH LANGUAGE EXPECTATIONS Standard 1 : Marketing Mix Product ●​ I can explain the difference between goods, services, and ideas. ●​ I can identify how packaging affects the effectiveness of a product. ●​ I can give examples of products that meet needs versus wants. ​

Place ●​ I can describe how products get from a business to the customer (distribution channels). ●​ I can explain the difference between retail and wholesale, and between domestic and global manufacturing. ●​ I can identify the advantages and disadvantages of physical stores (brick-and-mortar) and online stores (e-commerce). ●​ I can recognize strategies businesses use to display products and encourage impulse buys (end caps, power aisles, etc.). Price ●​ I can explain how businesses determine the selling price of a product.