Understanding marketing terms

Match each term with the statement that best describes it. Write the letter in the space provided.

a. production business f. career-sustaining jobs

b. marketing functions g. job description

c. financial services marketing h. service businesses

d. career plan i. hospitality and recreation marketing

e. marketing business

________	1. A business that manufactures, constructs, extracts or grows products that are marketed
________	2. A business that buys products for resale
________	3. The fastest growing segment of the business community in terms of the number of employment opportunities
________	4. Buying, selling, transporting, storing, financing, obtaining and using marketing information, risk bearing, and standardizing and grading
________	5. One of the twelve occupational specialty areas which includes banking services
________	6. An occupational specialty area that enables people to make productive and enjoyable use of their leisure time
________	7. A brief statement listing what a worker does in a specific job
________	8. The level of marketing job at which a worker has a commitment to a career
________	9. A program based on a person’s career goal which includes information about the individual’s interests, personality, and abilities

Mastering key concepts

Answer each of the following questions in the space provided.

1. Explain what is meant by the statement Marketing affects each of us every day.

2. How do a production business, a marketing business, and a service business differ?

3. Name five marketing jobs that are expected to offer increased employment opportunities in the near future.

4. Explain what is meant by the statement Marketing occupations can be classified by function or by type of institutional environment or setting.

5. List the eight marketing functions.

6. List five occupational specialty areas found in marketing.

7. Explain the major differences between the following levels of jobs.

a. Entry-level and career-sustaining marketing jobs

b. Career-sustaining and specialized marketing jobs

c. Specialized and managerial marketing jobs

8. What are three different ways you can increase your information about careers in marketing?

9. Explain what should be included in a career plan.

10. Explain each of the five major competency areas included in the marketing field.

a. d.

b. e.

c.

Solving people problems: Career Realism

Jack Valdez is a senior at Lakeland High School. During the last two years he has worked part-time for a local real estate agency where he has performed routine maintenance duties in addition to cleaning the agency’s vacated rental apartments. Jack likes to work with his hands and gets a lot of satisfaction from being allowed to make minor repairs in the rental units. He will graduate from high school in June and thinks that he would like to own and operate his own real estate agency. While in high school Jack completed a number of business classes including general business, accounting, and business law. Among these his favorite subject was accounting. Although marketing classes were offered, Jack did not take any of these courses. Jack was not an outstanding student in high school and will graduate with a B— grade point average. Although he is well liked by his classmates and friends. Jack is quiet and somewhat of a loner. He is interested in real estate because he has seen that people who work in this field make a lot of money, drive big cars, and seem to work whatever hours they choose. After graduation Jack plans to attend classes at a nearby technical college which offers a series of real estate licensing classes. After he completes these classes, he will be able to take the state licensing examination. He will have to wait until he is twenty-one, however, before he can apply for his real estate license. While he waits for his twenty-first birthday, Jack is planning to work in the construction industry building houses.

1. In your opinion, what is the major problem facing Jack in selecting real estate as a career?

2. In selecting this field for his career, what are the major factors which Jack should consider in making his decision? What factors are important in making any type of career decision?

3. From the information given in this problem, do you think that Jack has a reasonable chance of success in the real estate business? Give reasons for your answer.

4. Does Jack have enough information to make a well-thought-out decision? What else should he know and where could he go to learn more about a career in real estate?