Standard Marketing - Level 4 2CR

Program-of-Study Exam: Badge holder demonstrated an understanding of fundamental skills and knowledge needed by all marketing professionals. Skills and concepts assessed focus on business law, communication skills, channel management, customer relations, economics, emotional intelligence, financial analysis, human-resources management, information management, marketing-information management, marketing, market planning, operations, professional development, pricing, product/service management, promotion, selling, and strategic management.

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Business Law (BL)

Standard: Understands business's responsibility to know, abide by, and enforce laws and regulations that affect business operations and transactions

Performance Indicators:
Explain types of business ownership (BL:003, BL LAP 1) (CS)

Channel Management (CM)

Standard: Understands the concepts and processes needed to identify, select, monitor, and evaluate sales channels

Performance Indicators:
Explain the nature and scope of channel management (CM:001, CM LAP 2) (CS)
Explain the relationship between customer service and channel management (CM:002) (CS)
Explain the nature of channels of distribution (CM:003, CM LAP 1) (CS)
Describe the use of technology in the channel management function (CM:004) (CS)
Explain legal and ethical considerations in channel management (SP)

Communication Skills (CO)

Standard: Understands the concepts, strategies, and systems used to obtain and convey ideas and information

Performance Indicators:
Employ communication styles appropriate to target audience (CO:084) (CS)
Defend ideas objectively (CO:061) (CS)
Handle telephone calls in a businesslike manner (CO:114) (CS)
Participate in group discussions (CO:053, QS LAP 29) (CS)

Customer Relations (CR)

Standard: Understands the techniques and strategies used to foster positive, ongoing relationships with customers

Performance Indicators:
Explain the nature of positive customer relations (CR:003, CR LAP 1) (CS)
Demonstrate a customer-service mindset (CR:004) (CS)
Reinforce service orientation through communication (CR:005) (CS)
Respond to customer inquiries (CR:006) (CS)
Adapt communication to the cultural and social differences among clients (CR:019) (CS)
Interpret business policies to customers/clients (CR:007) (CS)
Handle difficult customers (CR:009, CR LAP 3) (CS)
Handle customer/client complaints (CR:010) (CS)
Identify company’s brand promise (CR:001) (CS)
Determine ways of reinforcing the company’s image through employee performance (CR:002) (CS)

Economics (EC)

Standard: Understands the economic principles and concepts fundamental to business operations

Performance Indicators:
Distinguish between economic goods and services (EC:002, EC LAP 10) (CS)
Explain the concept of economic resources (EC:003, EC LAP 14) (CS)
Describe the concepts of economics and economic activities (EC:001, EC LAP 6) (CS)
Determine economic utilities created by business and marketing activities (EC:004, EC LAP 13) (CS)
Explain the principles of supply and demand (EC:005, EC LAP 11) (CS)
Describe the functions of prices in markets (EC:006, EC LAP 12) (CS)
Explain the types of economic systems (EC:007, EC LAP 17) (CS)
Explain the concept of private enterprise (EC:009, EC LAP 15) (CS)
Identify factors affecting a business’s profit (EC:010, EC LAP 2) (CS)
Determine factors affecting business risk (EC:011, EC LAP 3) (CS)
Explain the concept of competition (EC:012, EC LAP 8) (CS)
Explain the role of business in society (EC:070, EC LAP 20) (CS)
Describe types of business activities (EC:071, EC LAP 19) (CS)
Determine the relationship between government and business (EC:008, EC LAP 16) (CS)
Explain the concept of productivity (EC:013, EC LAP 18) (CS)

Financial Analysis (FI)

Standard: Understands tools, strategies, and systems used to maintain, monitor, control, and plan the use of financial resources

Performance Indicators:
Describe the need for financial information (FI:579) (CS)
Explain the concept of accounting (FI:085, FI LAP 5) (CS)
Explain the role of finance in business (FI:354, FI LAP 7) (CS)

Human Resources Management (HR)

Standard: Understands the tools, techniques, and systems that businesses use to plan, staff, lead, and organize its human resources

Performance Indicators:
Discuss the nature of human resources management (HR:410, HR LAP 35) (CS)

Information Management (NF)

Standard: Understands tools, strategies, and systems needed to access, process, maintain, evaluate, and disseminate information to assist business decision-making

Performance Indicators:
Discuss the nature of information management (NF:110, NF LAP 3) (CS)
Identify ways that technology impacts business (NF:003, NF LAP 4) (PQ)

Marketing (MK)

Standard: Understands the tools, techniques, and systems that businesses use to create exchanges and satisfy organizational objectives

Performance Indicators:
Explain marketing and its importance in a global economy (MK:001, MK LAP 4) (CS)
Describe marketing functions and related activities (MK:002, MK LAP 1) (CS)
Explain factors that influence customer/client/business buying behavior (MK:014) (SP)
Discuss actions employees can take to achieve the company’s desired results (MK:015, MK LAP 2) (SP)
Demonstrate connections between company actions and results (e.g., influencing consumer buying behavior, gaining market share, etc.) (MK:019, MK LAP 3) (SP)

Marketing-Information Management (NF)

Standard: Understands tools, strategies, and systems needed to access, process, maintain, evaluate, and disseminate information to assist business decision-making

Performance Indicators:
Describe the need for marketing data (IM:012, IM LAP 12) (CS)
Identify data monitored for marketing decision making (IM:184, IM LAP 11) (SP)
Explain the nature and scope of the marketing information management function (IM:001, IM LAP 2) (SP)
Explain the legal and ethical considerations in marketing-information management (SP)
Describe the use of technology in the marketing-information management function (IM:183) (SP)
Explain the nature of marketing research (IM:010, IM LAP 5) (SP)

Market Planning (MP)

Standard: Understands the concepts and strategies utilized to determine and target marketing strategies to a select audience

Performance Indicators:
Explain the concept of marketing strategies (MP:001, MP LAP 2) (CS)
Explain the concept of market and market identification (MP:003, MP LAP 3) (CS)
Explain the nature of marketing plans (MP:007, MP LAP 1) (SP)

Operations (OP)

Standard: Understands the processes and systems implemented to monitor, plan, and control the day-to-day activities required for continued business functioning

Performance Indicators:
Explain the nature of operations (OP:189, OP LAP 3) (CS)
Describe health and safety regulations in business (OP:004) (PQ)
Report noncompliance with business health and safety regulations (OP:005) (PQ)
Follow instructions for use of equipment, tools, and machinery (OP:006) (PQ)
Follow safety precautions (OP:007) (PQ)
Explain the nature and scope of purchasing (OP:015, OP LAP 2) (CS)
Explain the concept of production (OP:017,OP LAP 4) (CS)
Maintain a safe work environment (OP:008) (CS)
Explain procedures for handling accidents (OP:009) (CS)
Explain routine security precautions (OP:013) (CS)
Follow established security procedures/policies (OP:152) (CS)

Pricing (PI)

Standard: Understands concepts and strategies utilized in determining and adjusting prices to maximize return and meet customers' perceptions of value

Performance Indicators:
Explain the nature and scope of the pricing function (PI:001, PI LAP 2) (SP)
Explain the use of technology in the pricing function (PI:016) (SP)
Explain legal and ethical considerations for pricing (SP)
Explain factors affecting pricing decisions (PI:002, PI LAP 3) (SP)

Product/Service Management (PM)

Standard: Understands the concepts and processes needed to obtain, develop, maintain, and improve a product or service mix in response to market opportunities

Performance Indicators:
Explain the nature and scope of the product/service management function (PM:001, PM LAP 17) (SP)
Identify the impact of product life cycles on marketing decisions (PM:024) (SP)
Describe the use of technology in the product/service management function (PM:039) (SP)
Explain business ethics in product/service management (PM:040) (SP)
Describe the uses of grades and standards in marketing (PM:019, PM LAP 8) (CS)
Explain warranties and guarantees (PM:020, PM LAP 4) (CS)
Identify consumer protection provisions of appropriate agencies (PM:017) (SP)

Professional Development (PD)

Standard: Understands concepts, tools, and strategies used to explore, obtain, and develop in a business career

Performance Indicators:
Set personal goals (PD:018; QS LAP 22, PD LAP 16) (CS)
Assess personal interests and skills needed for success in business and marketing (PD:013) (PQ)
Analyze employer expectations in the business environment (PD:020) (PQ)
Explain the rights of workers (PD:021) (PQ)
Identify sources of career information (PD:022) (CS)
Identify tentative occupational interest (PD:023) (CS)
Explain employment opportunities in business (PD:025, PD LAP 15) (CS)
Utilize job-search strategies (PD:026) (PQ)
Complete a job application (PD:027) (PQ)
Interview for a job (PD:028) (PQ)
Write a follow-up letter after job interviews (PD:029) (CS)
Write a letter of application (PD:030) (CS)
Prepare a résumé (PD:031) (CS)
Explain employment opportunities in marketing (PD:024) (CS)
Explain the need for innovation skills (PD:126) (CS)
Make decisions (PD:017; QS LAP 2, PD LAP 10) (CS)
Demonstrate problem-solving skills (PD:077; QS LAP 26, PD LAP 17) (CS)
Use time-management skills (PD:019, OP LAP 1) (SP)
Demonstrate appropriate creativity (PD:012) (SP)

Promotion (PR)

Standard: Understands the concepts and strategies needed to communicate information about products, services, images, and/or ideas to achieve a desired outcome

Performance Indicators:
Explain the role of promotion as a marketing function (PR:001, PR LAP 2) (CS)
Explain the types of promotion (PR:002, PR LAP 4) (CS)
Identify the elements of the promotional mix (PR:003, PR LAP 1) (SP)
Describe legal and ethical issues in promotion (SP)
Describe the use of technology in the promotion function (PR:100) (SP)
Explain types of advertising media (PR:007, PR LAP 3) (SP)

Selling (SE)

Standard: Understands the concepts and actions needed to determine client needs and wants and respond through planned, personalized communication that influences purchase decisions and enhances future business opportunities

Performance Indicators:
Explain the nature and scope of the selling function (SE:017, SE LAP 117) (CS)
Explain the role of customer service as a component of selling relationships (SE:076, SE LAP 130) (CS)
Explain company selling policies (SE:932) (CS)
Acquire product information for use in selling (SE:062) (CS)
Explain the selling process (SE:048, SE LAP 126) (CS)
Establish relationship with client/customer (SE:110) (CS)
Determine customer/client needs (SE:111) (CS)
Recommend specific product (SE:114, SE LAP 111) (CS)
Calculate miscellaneous charges (SE:116) (CS)
Process special orders (SE:009) (CS)
Process telephone orders (SE:835) (CS)
Explain key factors in building a clientele (SE:828, SE LAP 115) (SP)
Explain legal and ethical considerations in selling (SE LAP 129) (SP)
Describe the use of technology in the selling function (SE:107) (SP)
Analyze product information to identify product features and benefits (SE:109, SE LAP 113) (SP)

Strategic Management (SM)

Standard: Understands tools, techniques, and systems that affect a business's ability to plan, control, and organize an organization/department

Performance Indicators:
Explain the concept of management (SM:001, SM LAP 3) (CS)