MAYNARD – Sports & Entertainment Marketing    TOPIC                    Marketing Basics ESSENTIAL QUESTION                ...
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MARKETING BASICS                               CLASS LECTURE NOTES   Term                    Definition/DetailsMarketing  ...
Ethnicity: white                  Hobbies: football, sports, and outdoor activities                  Music Style: rock, an...
Best Buy – family and middle up income                           Taco Bell – couples and all incomes                      ...
Rational motives                Buying a product based on factual information and dataTrends in MarketingImpact of technol...
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Reading for Understanding                                   Identify the 4 P’s of the Marketing MixUse the words below to ...
2.Identify the 4 P’s of the Marketing Mix and Describe the Marketing Concept    Create a presentation, video, audio, comic...
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Reading for Understanding                                Explain the Concept of Target MarketingUse the words below to com...
3. explain the concept of Target Marketing   Choose a company of your choice and describe its target marketCOMPANY        ...
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Marketingbasicsnotes8.29.11

  1. 1. MAYNARD – Sports & Entertainment Marketing TOPIC Marketing Basics ESSENTIAL QUESTION How can I satisfy customers? NAME DATE Mktg8175.010 explaine marketing as it relates to the SER industries Mktg8175.011 Identify the components (P’s) of the marketing mix AIM: Mktg8175.012 describe the marketing conceptCompetencies & Mktg8175.013 explain the concept of target marketing Related SOLs Mktg8175.014. Describe the marketing functions English 10.4 The student will read and interpret informational materials English 11.4 the student will read and analyze a variety of informational materials English 12.4 the student will read and analyze a variety of informational materials including electronic resources HW: Study notes for quiz on Marketing Basics Do Now: Marketing Basics pretest score – ____76.54________Vocab ReviewMatch the terms with the definitions below (use text pages 6 – 11 as a resource). 1. Channel of distribution 2. Demographics 3. Market 4. Marketing 5. Marketing concept 6. Marketing mix 7. Needs 8. Target market 9. wants a. the process of developing, promoting, & distributing products to satisfy customer’s needs and wants. b. idea that organizations need to satisfy their customers while trying to reach their organizations goals. c. consists of potential customer with shared needs who have a desire and ability to buy a product. d. occur when people experience a lack of basic necessities such as food, clothing or shelter. e. are things that people desire based on personality, experiences, or info about a product. f. a specific group of consumer that an organization selects as the focus of its marketing plan g. are statistics that describe a population in terms of personal characteristics h. combination of four basic marketing strategies, known as the 4 P’s –product, price, place and promotion i. the path a product takes from the producer to the consumer 1
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  3. 3. MARKETING BASICS CLASS LECTURE NOTES Term Definition/DetailsMarketing Process of developing, promoting, and distributing products or services to SATISFY customers needs and wantsMarketing concept** Satisfy customersSatisfy Customers On your own, describe what it means for a customer to be satisfied:Think Pair Share *For them to get what they had asked for in your product Discuss your description with a partner, be prepared to share with the classMarket All potential customers to share warrants and willingness to buy productcustomer Buys the productconsumer Uses the productCustomer vs. Consumer On your own think of an example of a customer who is also a consumer (beThink Share prepared to share with the class) *If your product is food you are a customer and consumerindustrial Makes products to resell to consumersGoods Tangible products, ex. Sports equipmentServices Intangible products, ex. Live concertGoods & Services On your own think of an example of a company who sells both goods and servicesThink Share (be prepare to share with the class) *BestBuy, because they sell computers and have geek squad to help you with the maintanceApproaches to sell Mass marketing & Market SegmentationMarket segmentation 1. Demographics – age, gender, income, job, ethnic background, education 2. Psychographics – attitudes, lifestyles, behaviors 3. Geographics – local, regional, national, global 4. Product benefits – ex. Shampoo for those with color treated hair vs. dry hairMass marketing Appeal to all audiences for basic products ex. Soda, chewing gumAlike and Different On your own, describe yourself in the following categories Age:17 Gender: male 3
  4. 4. Ethnicity: white Hobbies: football, sports, and outdoor activities Music Style: rock, and some country Create a list of your 10 favorite products 1. 360 games 2.shoes 3. movies 4.clothes 5. guns 6.footballs 7. tennis racket 8. hats 9.basketballs 10. sandles With a partner create the T chart below comparing how you are alike and how you are different ALIKE DIFFERENT *White *Cowboys *Music *Football *Mrs. Maynard’s class 2nd Year *Rock Create a list of 5 products that you both like and could be “mass marketed” to both of you 1. 360 games 2. movies 3. cell phone 4. Facebook 5. IpodTarget Market** Focus all mktg decisions on a specific market of customersTarget Market With a partner, discussPair Share Who do you think the target market is for following companies? Food Lion – Family and middle income Harris Teeter – couples and middle high income Game Stop – single mid teens and up; low income 4
  5. 5. Best Buy – family and middle up income Taco Bell – couples and all incomes McDonalds – family and low income What clues can we find to help us? *By what the place is best known for; and it’s whom I saw when I go to those placesMarketing Mix** 4 P’s – Product, Place, Price, PromotionPositioning Get people to think of a product in a certain way ex. Axe body spray – cool, attractivePositioning Pair Share 1 Discuss with a partner: How is Gatorade trying to position its product? *Directing it toward sports What clues can you find? *Commercials, advertisements, and where Gatorade came fromPositioning Pair Share 2 Discuss with a partner: How is Dentine Ice trying to position its product? *Twenties and up; middle high income What clues can you find? College people always have themNeeds Basic necessities such as food, clothing, shelterWants Things people desire, such as Gatorade (rather than just water)Levels of Needs With a partner, come up with 2 – 3 products that meet the needs of each level ofPair Share the pyramid: Self actualization – 360 and News Esteem – Nike shoes and Jordan bags Love/Belonging – Wii and Trogans Safety – Home lock security alarms, and Smith & Wiston Physiological - Deer park, and S.V milk,Buying motives The reasons you buy a product or serviceEmotional motives Buying a product for reasons such as feelings and social status 5
  6. 6. Rational motives Buying a product based on factual information and dataTrends in MarketingImpact of technology Faster distribution EcommerceSocial responsibility Green productsREVIEW: Identify the components of the marketing mix – Product Price Promotion Place Describe the marketing concept – Satisfy Customers Explain the concept of target marketing – Group of Customers Focus Decisions ESSENTIAL QUESTION – How can I satisfy customers? 1. Target market – know ___who they are, make decisions based on them 2. Marketing Mix/4 P’s a. Product - quality products b. Price -low price/value c. Promotion - show them products they need and want d. Place - convenient 6
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  8. 8. Reading for Understanding Identify the 4 P’s of the Marketing MixUse the words below to complete the following notes outlineMarketing mix 4 P’s ProductPrice Place PromotionThe Marketing mix is a combination of four basic marketing strategies, known as the 4 P’s – Product, Price,Place, and Promotion.To be effective, all Promotion in a marketing plan must focus on the target market.Price decisions involved the goods, services, or ideas used to satisfy consumer needs. Designing, naming andpackaging a Product are major considerations. Example – Nike decides which styles of shoes to make and howto package them.Marketing mix also influences customer’s buying decisions. Factors to consider in pricing a product include thecost of making the product, competition and the price the consumer is willing to pay. Example – Nike Prices itsrunning shoes from $70 to well over $100 depending on the target market it is trying to reach.Place decisions involve making the product available to the customer. Thus, marketers must determine how andwhere customers shop. For example, Nike products are sold at a retail store, online or by telephone.Place decisions involve how the goods or services are communicated to the consumer. Products may use anycombination of advertising, sales promotion, publicity, and personal selling. For example, Nike uses ad ismagazines and commercials during sporting events along with its famous Just Do It slogan and endorsementsfrom athletes. Describe the marketing conceptUse the words below to complete the following notes outlineMarketing concept SatisfyThe Marketing concept is the idea that organizations need to Satisfy their customers while also trying to reachtheir organizations goals. Therefore, to be profitable, businesses must focus their efforts on customer’s needsand wants. 8
  9. 9. 2.Identify the 4 P’s of the Marketing Mix and Describe the Marketing Concept Create a presentation, video, audio, comic strip, etc. with the following: o the 4 P’s of the Marketing Mix o pictures that describe each of the 4 P’s o the definition for the Marketing Concept o pictures that describe the marketing concept 9
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  11. 11. Reading for Understanding Explain the Concept of Target MarketingUse the words below to complete the following notes outlinetarget market mass marketing demographics Satisfying customers is not an easy task. For example, each member of yourfamily may have a need for a pair of athletic shoes. Would everyone want exactlythe same shoe? Probably not, each type of shoe is designed for a smaller group ofpeople within the larger market for athletic shoes. This smaller or similar group iscalled a target market. A target market is a specific group of consumers that anorganization selects as the focus of its marketing plan. Mass marketing involves promoting products with one key message that isdirected to everyone. Demographics are statistics that describe a population in terms of personalcharacteristics. There are many characteristics, but some of the most common targetmarket categories include age, income, occupation, gender, ethnic background andeducation levels. 11
  12. 12. 3. explain the concept of Target Marketing Choose a company of your choice and describe its target marketCOMPANY GameStopWho do you think the target market for this company is? (highlight your answers)DemographicsAge range: Under 6 6-11 12-19 20-34 35-49 50-64 65+Gender: Male FemaleFamily Size: 1-2 3-4 5+Family Lifecycle: young, single; young married, no kids; young, married w/ kids Older, married w/ kids; older, married, no kids under 18 older, singleIncome Level: High Middle LowJob: professional managers sales technical office farmer student retired homemaker unemployedEthnicity: Caucasian African American Hispanic AsianOther__________Education: High School Some College Bachelors Masters +PsychographicsSocail Class: lower class working class middle class upper middle upper upperPersonality: Happy Critical Detailed Organized Artistic Other__________Lifestyles: Athlete Gardener Shopper Music Lover Other_________GeographicsLocation: Continent__North America_ Country_US_ Region _East Coast_ City _Charlottesville, VA_Climate: cold warm hot dry wetDensity: urban suburban ruralProduct BenefitsOccasions: regular specialBenefits: quality service cheap convenientUser Status: non user ex-user potential user first-time user regular userUsage rate: light user medium user heavy userLoyalty status: none medium strong absolute Options: Document - Write a detailed target market description Presentation - Create a collage of pictures describing the company’s target market Video/ Audio - Perform a song that describes the company’s target market 12

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