MARKETING and its TRADITIONAL APPROACHES

(Lesson Plan)
LEARNING OBJECTIVES:
1. Define Marketing.
2. Describe the Marketing Concept and principles.

SUBJECT MATTER:
MARKETING and its TRADITIONAL APPROACHES
Reference: Principles of Marketing
Materials:
INTRODUCTION (3 MINS) Communicating learning objectives
1. Introduce the following learning objectives:
a. I will be able to define accounting.
b. I will be able to describe the nature of accounting.
c. I will be able to explain the functions of accounting in business.
d. I will be able to narrate the history/origin of accounting.

2. Ask the learners the following questions:

a. Do your parents ask how you spend your allowance every day?
b. When deciding between buying a bottle of soft drinks or fruit juice, what is
the basis of your decision? Do you compare the prices of both and then decide?
c. When going home, do you sometimes choose to walk from school rather than
riding a jeepney because you want to save?

3. Acknowledge all the answers of the learners and make a conclusion that
accounting is involved in all of these.

4. Relate the connection of accounting to our daily activities.

MOTIVATION (2 MINS)
Ask the learners “Is accounting important to you?”. Leave this question
unanswered. Remind the learners that you will ask this question again after
you discuss the introduction to accounting.

INSTRUCTION (30 MINS)

Define accounting “Accounting is the process of IDENTIFYING, RECORDING,
and COMMUNICATING economic events of an organization to interested users.”
(Weygandt, J. et. al) Explain the three highlighted words in the graphic:

IDENTIFYING – this involves selecting economic events that are relevant

to a particular business transaction The economic events of an organization are
referred to as transactions. Examples of economic events or transactions - In a
bakery business:
• sales of bread and other bakery products
 • purchases of flour that will be used for baking
• purchases of trucks needed to deliver the products

RECORDING – this involves keeping a chronological diary of events that

are measured in pesos. The diary referred to in the definition are the journals
and ledgers which will be discussed in future chapters.

COMMUNICATING – occurs through the preparation and distribution of

financial and other accounting reports. Discuss the nature of accounting
According to Accounting Theory (http://accountingtheory.weebly.com/nature-
and-scope-of-accounting.html): “Accounting is a systematic recording of
financial transactions and the presentation of the related information to
appropriate persons.”
Based on this definition we can derive the following basic features of
accounting:
• Accounting is a service activity. Accounting provides assistance to
decision makers by providing them financial reports that will guide them
in coming up with sound decisions.
• Accounting is a process: A process refers to the method of
performing any specific job step by step according to the objectives or
targets. Accounting is identified as a process, as it performs the specific
task of collecting, processing and communicating financial information. In
doing so, it follows some definite steps like the collection, recording,
classification, summarization, finalization, and reporting of financial data.
• Accounting is both an art and a discipline. Accounting is the art
of recording, classifying, summarizing and finalizing financial data. The
word ‘art’ refers to the way something is performed. It is behavioral
knowledge involving a certain creativity and skill to help us attain some
specific objectives. Accounting is a systematic method consisting of
definite techniques and its proper application requires skill and expertise.
So by nature, accounting is an art. And because it follows certain
standards and professional ethics, it is also a discipline.
• Accounting deals with financial information and transactions:
Accounting records financial transactions and data, classifies these and
finalizes their results given for a specified period of time, as needed by
their users. At every stage, from start to finish, accounting deals with
financial information and financial information only. It does not deal with
non-monetary or non-financial aspects of such information.
• Accounting is an information system: Accounting is recognized
and characterized as a storehouse of information. As a service function, it
collects processes and communicates financial information of any entity.
This discipline of knowledge has evolved to meet the need for financial
information as required by various interested groups. Discuss the
function of accounting in business Ask the learners to comment on why
accounting is considered as the language of business. Accounting is the
 means by which business information is communicated to business
owners and stakeholders. The role of accounting in business is to provide
information for managers and owners to use in operating the business. In
addition, accounting information allows business owners to assess the
efficiency and effectiveness of their business operations. Prepared
accounting reports can be compared with industry standards or to a
leading competitor to determine how the business is doing. Business
owners may also use historical financial accounting statements to create
trends for analyzing and forecasting future sales.

Accounting helps the users of these financial reports to see the true picture of
the business in financial terms. In order for a business to survive, it is
important that a business owner or manager be well-informed.

Let us now discuss the function of accounting in business.

Mr. Juan is a retired government employee who is good at baking. One
day he decides to put up a bakery shop in your barangay. He renovates a
portion of his house to serve as the area for the production of bread. He
purchases baking equipment and raw materials to produce five different types of
bread. Mr. Juan also hires Jose to help him with the baking and, at the same
time, to be in-charge of sales. Mr. Juan pays Jose on a weekly basis. Every
day, Mr. Juan’s wife deposits the daily cash sales in their bank account at XY
Savings Bank. With the help of accounting, what possible decisions or questions
of Mr. Juan can accounting provide an answer to?
Possible Answers:
• Is my business earning? (profitability)
• How much daily or monthly sales do I need in order to recover my fixed
cost? (break-even)
• Do I need to hire additional workers to help me with my production?
• Can I afford to set up a new store in another place? Where do I get the
funds?
• Can I afford to pay a bank loan?

Discuss the history of accounting

Accounting is as old as civilization itself. It has evolved in response to
various social and economic needs of men. Accounting started as a simple
recording of repetitive exchanges. The history of accounting is often seen as
indistinguishable from the history of finance and business. Following is the
evolution of accounting:
• The Cradle of Civilization
Around 3600 B.C., record-keeping was already common from
Mesopotamia, China and India to Central and South America. The oldest
evidence of this practice was the “clay tablet” of Mesopotamia which dealt with
commercial transactions at the time such as listing of accounts receivable and
accounts payable.
 • 14th Century - Double-Entry Bookkeeping
The most important event in accounting history is generally considered to
be the dissemination of double entry bookkeeping by Luca Pacioli (‘The Father of
Accounting’) in 14th century Italy. Pacioli was much revered in his day, and was
a friend and contemporary of Leonardo da Vinci. The Italians of the 14th to 16th
centuries are widely acknowledged as the fathers of modern accounting and
were the first to commonly use Arabic numerals, rather than Roman, for
tracking business accounts. Luca Pacioli wrote Summa de Arithmetica, the first
book published that contained a detailed chapter on double-entry bookkeeping.

• French Revolution (1700s)

The thorough study of accounting and development of accounting theory began
during this period. Social upheavals affecting government, finances, laws,
customs and business had greatly influenced the development of accounting. •
The Industrial Revolution (1760-1830) Mass production and the great
importance of fixed assets were given attention during this period.

• 19th Century –
The Beginnings of Modern Accounting in Europe and America The modern,
formal accounting profession emerged in Scotland in 1854 when Queen Victoria
granted a Royal Charter to the Institute of Accountants in Glasgow, creating the
profession of the Chartered Accountant (CA). In the late 1800s, chartered
accountants from Scotland and Britain came to the U.S. to audit British
investments. Some of these accountants stayed in the U.S., setting up
accounting practices and becoming the origins of several U.S. accounting firms.
The first national U.S. accounting society was set up in 1887.
The American Association of Public Accountants was the forerunner to the
current American Institute of Certified Public Accountants (AICPA).

In this period rapid changes in accounting practice and reports were made.
Accounting standards to be observed by accounting professionals were
promulgated. Notable practices such as mergers, acquisitions and growth of
multinational corporations were developed. A merger is when one company
takes over all the operations of another business entity resulting in the
dissolution of another business. Businesses expanded by acquiring other
companies. These types of transactions have challenged accounting
professionals to develop new standards that will address accounting issues
related to these business combinations.

• The Present – The Development of Modern Accounting Standards and

Commerce
The accounting profession in the 20th century developed around state
requirements for financial statement audits. Beyond the industry's self-
regulation, the government also sets accounting standards, through laws and
agencies such as the Securities and Exchange Commission (SEC). As economies
worldwide continued to globalize, accounting regulatory bodies required
accounting practitioners to observe International Accounting Standards. This is
to assure transparency and reliability, and to obtain greater confidence on
accounting information used by global investors. Nowadays, investors seek
investment opportunities all over the world. To remain competitive, businesses
everywhere feel the need to operate globally. The trend now for accounting
professionals is to observe one single set of global accounting standards in order
to have greater transparency and comparability of financial data across borders.

PRACTICE (10 MINS)

Divide the class into 2 groups. The first group will act out the definition of
accounting while the second group will act out the evolution/history of
accounting.

ENRICHMENT (5 MINS) Go back to the unanswered question during your

introduction of this topic. Ask the learners the following questions: Is
accounting important to you? Does it affect your daily activities? How?

EVALUATION (10 MINS)

Give a short quiz. Ask the following questions:
1. Define accounting
Answer: Accounting is the process of IDENTIFYING, RECORDING and
COMMUNICATING economic events of an organization for interested users.

2. Give examples of decisions or questions that can be supported by accounting

information.
Suggested Answers:
• Is my business earning? (profitability)
• How much daily or monthly sales do I need in order to recover my fixed cost?
(break-even)
• Do I need to hire additional workers to help me with my production?
• Can I afford to set up a new store in another place? Where do I get the funds?
(financing decisions)
• Can I afford to pay a bank loan?

PROCEDURE:
TEACHER’S ACTIVITY STUDENT’S ACTIVITY
A. PREPARATORY ACTIVITIES:
 o Greetings Good morning ma’am!
Good morning class!

o Prayer
Let us all stand. Let’s start (Student’s pray)
our day with a prayer.

o Checking of attendance
As I call your name, please
raise your hand.

o Classroom Management
I’m sure all of you did not
escape breakfast because I
want you to participate in
our lessons for today.

So, please sit properly and

turn-off your mobile phone.
B. MOTIVATION:

 Who among you own a gadget?  (Student’s raise hands)

 Very good.

 What kind of gadgets do you have?  (acer, ASUS, Lenovo, my

phone, etc.)

 For what purpose did you buy  (for internet, social media,
gadgets? and in studies)

 Ok, very good. You own that  Yes, ma’am!

gadgets and also you have that First, I have surveyed every
purpose. So in buying your store who are selling gadgets.
gadgets, did you consider a series Second, I have been applied
of steps before you choose/before the 4Ps of marketing (price,
you own it? And give me the steps. place, promotion, and
product.

 Ok, very good.

 What I have asked is related to our
topic for today.
 It’s all about THE MARKETING
 RESEARCH

C. LESSON PROPER
A. ACTIVITY
 Before I discuss with you
THE MARKETING
RESEARCH, let’s have first
our activity for you to
understand further what is
MARKETING RESEARCH,
the steps and process and
how importance market
research in business o (students count 1,2,3)
enterprise.
 Ok, I will group you into o (students proceed to their
three. Count from 1, 2, & 3. designated group number)
 Go to your designated group
number.
 Each group will be given a
set of activity.
Group 1 – store #1
With a high price,
good quality and good
features.
Group 2 – store # 2
With a low price, not
equivalent to a good
quality and features. o Each group is working about
(imitation) each topic assigned.
Group 3
–customer/consumer

 And, you will write your

ideas about each topic
assigned.
 I will give you 20 min. to
work on it. o It is Easy/Difficult
 Start now.
o It is easy because everyone is
B. ANALYSIS: participating.
 Times up. Let’s discuss your
ideas about the activities given. o It is difficult because some
are not participating
 How did you find the
activity? o The importance of doing this
 activity is teamwork.
 Why is it easy?

 Why is it difficult? o As part of the group, the

group members should
participate during the
 What is importance in activity.
doing this activity?

 Very good!
o I’ve learned the importance
 As a group what should of marketing research in
you do? business. It plays a vital role
in decisions about what
product / services to offer &
how to sell them.
 Very good!

 Based on the activity

given, what have you
learned?

o Yes, ma’am.

 Very Good!

C. DISCUSSION /
DEMONSTRATION:

 Now that you have a brief

knowledge about
MARKETING RESEARCH, o Is the research that
we will now have our companies do to study
discussion. Did you consumers and other
understand the given companies.
activity? o Studying the marketing
techniques of other
 At this moment, we will company.
learn about THE o Is the systematic and
MARKETING RESEARCH, objective search for, analysis
but before we start please be of, information relevant to
reminded to have a right the identification and
attitude in listening and solution of any problem in
observing. the field of marketing.

 What is Marketing
Research?

- a systematic search o The various steps / stages in

of information that MARKETING RESEARCH
every companies do to PROCESS:
analyze the best ways 1) Identification and
to connect a Defining the problem
consumers and a 2) Statement of Research
product. Objectives
- gathering of 3) Planning the Research
information what Design or Designing
consumers really want the Research Study
to buy. 4) Planning the Sample
5) Data collection
6) Data processing and
 Very good! analysis
7) Formulating
 Give the various steps conclusion preparing/
/ stages in and presenting the
MARKETING report.
RESEARCH
PROCESS.
o it is finding out how product,
or service will fit into current
market.
o It must be stated in a clear
concise attainable,
measurable and quantifiable
way.
o Specifying the procedure
collecting and analyzing the
needed information.
o Planning the sample, the
 procedure that uses a small
number of items to make
conclusions regarding the
total item.
 What can you say o Gathering of facts to be used
about the # 1 stages? in solving the problem.
 What can you say o Once the data collected,
about the # 2 stages? these have to be converted
into a format that will
 What can you say suggest answers to the
about the # 3 stages? initially identified & defined
problem.
 What can you say o The final stage in
about the # 4 stages? MARKETING RESEARCH, it
stands for the interpreting
the information & drawing
 What can you say conclusions for use in
about the # 5 stages? managerial decisions.
 What can you say
about the # 6 stages? o Whether a company is small
or large, Market Research
plays a vital role in decisions
about what products or
 What can you say services to offer and how to
about the # 7 stages? sell them.

 How importance is
Marketing Research in
Business Enterprise?

 Now that you already

know how marketing
research is important
in business, you are
now confident in what
decisions you are
going to do. Knowing o The groups are performing
they are based on the activity.
solid data rather than
guesswork. And you
can able to set
 strategic decision and
determine what
customers really want. o Ma’am, we are lacking on
marketing research that is
D. APPLICATION: why we encountered the
 To elaborate this lesson, I will dropping of sales.
tie it into real life.
 Go back to your group and o We should develop a survey
choose a business. Perform a or some form of research
further research on issue that that would work to discover
your particular business might why this problem is
have. happening and find ways to
(this activity will allow the fix the problem.
students to see what it is like to
work in marketing research)
 What do you think is the
common problem?

 What should you do?

o The research that companies

do to study consumers and
 Now that you understand other company.
how marketing research
plays a vital role in o The various steps / stages in
business, you can MARKETING RESEARCH
develop your own PROCESS:
research tools, as well as 1. Identification and
you can now conduct a Defining the problem
research and read the 2. Statement of Research
data of your own Objective
business. 3. Planning the Research
Design or Designing the
E. GENERALIZATION: Research Study
 AGAIN, what is Marketing 4. Planning the Sample
Research? 5. Data Collection.
6. Data Processing and
Analysis
7. Formulating
 What are various stages / steps Conclusions, Preparing
of Marketing Research? and Presenting the
Report.
 Marketing Research is tied into
our daily lives and the constant
decision in business. If an small
enterprise set a high priority on
marketing research, specifically on
setting an strategic decision and
determining what customer really
want, then he can be more
confident in his/her decision.

F. EVALUATION:
1. What is Marketing Research?
2. Explain the importance of
Marketing Research in business.

F. ASSIGNMENT:
Work in this case study:
“A LOCAL MOVIE THEATRE”
(Conduct a survey and apply what
you have learned in our
discussion about The Marketing
Research.)