1006. Utility Quiz - CTE MARKETING

The “Utility Quiz” is designed for you to perform a quick student check for understanding of the 5 types of marketing utility. It’s a great resource to support your discussion on utility.

TIME

The estimated time to complete the assignment is 20 minutes.

PRODUCT CONTENT

• 1 Quiz Handout with Instructions
• Grading Key

MARKETING STANDARDS

TEKS

§130.382. Advertising

(4) The student knows the nature and scope of advertising marketing. The student is expected to:

• (A) demonstrate knowledge of the history of advertising as an industry and how it relates to today's marketplace;
• (B) discuss major environmental influences that impact advertising;

(5) The student knows that advertising requires knowledge of demographics. The student is expected to:

• (A) explain how the use of demographics has influenced the industry;
• (B) differentiate between buying habits and buying preferences; and

(7) The student understands the importance of selling in the advertising industry. The student is expected to:

• (A) explain how selling contributes to the success of an advertising agency; and
• (B) employ the steps of selling, including prospecting, pre-approach, approach, presentation, overcoming objections, close, and follow-up.

(12) The student knows the elements and processes of product planning. The student is expected to:

• (A) describe stages of new-product planning;
• (B) analyze product mix; and
• (C) identify stages of the product life cycle for new or existing advertising marketing plans.

§130.384. Entrepreneurship

(9) The student knows the effects of credit on price and profit. The student is expected to:

• (A) identify types of consumer credit;
• (B) recommend types of consumer credit a business might offer;
• (C) explain the risks and benefits to entrepreneurs when accepting and extending credit; and
• (D) describe how credit affects profit and the negotiated price.

(10) The student understands the importance of product management and how it meets the needs of the customer. The student is expected to:

• (A) explain product management;
• (B) describe supply chain management; and
• (C) create product-mix strategies, including branding elements and extended product features, to meet customer needs.

(13) The student knows elements and processes of product planning. The student is expected to:

• (A) explain the nature and scope of product planning;
• (B) define the term product mix; and
• (C) identify stages of the product life cycle for business products

§130.386. Sports and Entertainment Marketing

(4) The student knows that distribution channel members facilitate the movement of products. The student is expected to:

• (A) explain channels of distribution for sports and entertainment marketing products; and
• (B) describe activities of each channel member.

(11) The student identifies the role of selling and emphasizes its importance in a sports and entertainment business. The student is expected to:

• (A) explain how selling contributes to economic activity;
• (B) describe the process of selecting and merchandising sports and entertainment products;
• (C) demonstrate steps in the selling process using sports and entertainment products;
• (D) explain the importance of ticket sales; and
• (E) develop a ticket sales strategy for a sports and entertainment product.

(12) The student identifies the nature and scope of sports and entertainment marketing. The student is expected to:

• (A) research and explain the history of sports and entertainment as an industry and how it impacts today's marketplace;
• (C) list major environmental influences on sports and entertainment demand;
• (G) explain the concept of competition for discretionary income.

(14) The student knows that private enterprise is based on independent decisions by businesses and limited government involvement. The student is expected to:

• (C) identify examples of competitive business situations such as price or nonprice competition.

(22) The student understands the importance of effectively communicating information with customers, media, and fans. The student is expected to:

• (A) explain why communications in sports and entertainment are important;

(23) The student understands the strategies of successful entertainment marketing. The student is expected to:

• (A) discuss the different kinds of entertainment distribution;

§130.383. Fashion Marketing

(5) The student knows that distribution channel members facilitate the movement of products. The student is expected to:

• (A) explain channels of distribution for fashion products; and
• (B) describe activities of each channel member in the fashion industry.

(7) The student knows concepts and strategies used in determining and adjusting prices to maximize return and meet customers' perceptions of value. The student is expected to:

• (A) employ pricing strategies to determine prices;

(8) The student knows merchandising concepts and processes used in obtaining, developing, maintaining, and improving a product or service to respond to marketing opportunities. The student is expected to:

• (A) use assortment-mix strategies to create maximum mix of products at minimum cost;
• (B) perform buying activities to obtain products for resale;
• (C) analyze vendor performance to choose vendors and merchandise; and
• (D) position products and services to acquire a desired business image.

(9) The student knows that a successful marketer must communicate information on retail products, services, images, and ideas to achieve a desired outcome. The student is expected to:

• (A) demonstrate methods of advertising to communicate promotional messages to targeted audiences;
• (C) display visual merchandising techniques to increase interest in product offerings;
• (D) implement display techniques to attract customers and increase sales potential; and

(11) The student demonstrates an understanding of concepts and actions to determine client needs and wants. The student is expected to:

• (A) acquire product knowledge to communicate product benefits and to ensure appropriateness of product for the customer; and
• (B) employ sales processes and techniques to enhance customer relationships and to increase the likelihood of making sales.

(12) The student knows the nature and scope of fashion. The student is expected to:

• (A) explain the importance of fashion;
• (E) research fashion information;

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