STANDARD: MARKETING
BENCHMARK: The student will develop a basic
understanding of the fundamentals of marketing
INDICATORS:...
• Marketing consists of dynamic activities that
focus on the customer to generate a profit
• The goal of marketing: to mee...
• Marketing is: Customer-Focused
• Customer: any one or any group
who buys a product or service
• Marketers focus on learn...
• Based on relationships between the buyer &
the seller
• There’s short-term and long-term
relationships
• Many companies ...
• Contact customers after the sale
• Birthday Cards
• Phone calls and emails about sales
• Reward repeat customers with di...
• The marketing mix includes: Product, Place,
Price, Promotion, & People
• Product decisions include:
– Naming the product
– Deciding which products to
make & sell
– Product Design
– Products’ fe...
• Place
– Getting the product into the consumers’ hands
– Knowing where ones’ consumers shop
– Where a product will be sold
• Price
– This is what is exchanged for a product
– Price strategies should reflect what customers are
willing and able to...
• Promotion:
– Decisions about advertising, personal selling, sales
promotion, and publicity
– Deal with how customers wil...
• People AKA The Target Market
– This is the group of people to become customers for a
certain product
– All marketing str...
• Distribution:
– Deciding how to get goods in customers’ hands
– Physically moving and storing goods
– Main methods of tr...
• Financing is
– Getting the money that is
necessary to pay for setting up
and running a business
– Business owners often ...
• Marketing Info Management:
– Obtaining good information about customers,
trends, and competing products
– Gathering info...
• Pricing:
– Decisions dictate how much to
charge for goods and services in
order to make a profit
– Based on costs and wh...
• Product/Service
Management:
– Obtaining, developing,
maintaining, and improving a
product or a product mix
– Marketing r...
• Promotion:
– RIP: Remind, Inform, Persuade about products
and services
– TV, commercials
• Selling:
– Provides customers with goods and services they
want
– Selling in the retail market to the customer
– Selling...
• Brand: a mark or design placed on a product
to distinguish it from others
• Branding & the Customer: helps customers
loc...
• Viral Marketing
– Fancy word for Word of Mouth
• Social Networking
– Facebook, Twitter, MySpace
• Engage & Follow Custom...
STANDARD: MARKETING
BENCHMARK: The student will develop a basic
understanding of the fundamentals of marketing
INDICATORS:...
Unit 1 what is marketing
Unit 1 what is marketing
Unit 1 what is marketing
Unit 1 what is marketing
Unit 1 what is marketing
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Unit 1 what is marketing

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Unit 1 what is marketing

  1. 1. STANDARD: MARKETING BENCHMARK: The student will develop a basic understanding of the fundamentals of marketing INDICATORS: 2.1 Explain marketing as a process 2.2 Explain marketing as a service to the public 2.3 Identify components of the marketing mix 2.4 Explain the functions involved in marketing goods and services 2.5 Explain the concept of branding 2.6 Explain trends in marketing
  2. 2. • Marketing consists of dynamic activities that focus on the customer to generate a profit • The goal of marketing: to meet the customers’ needs & wants • Purpose of marketing: reach customers and compel them to make a purchase and use a product • Find out what your customers want and give it to them • Creating, communicating, & delivering value to customers
  3. 3. • Marketing is: Customer-Focused • Customer: any one or any group who buys a product or service • Marketers focus on learning what customers need and want
  4. 4. • Based on relationships between the buyer & the seller • There’s short-term and long-term relationships • Many companies focus on developing and maintaining relationships with customers
  5. 5. • Contact customers after the sale • Birthday Cards • Phone calls and emails about sales • Reward repeat customers with discounts and free products
  6. 6. • The marketing mix includes: Product, Place, Price, Promotion, & People
  7. 7. • Product decisions include: – Naming the product – Deciding which products to make & sell – Product Design – Products’ features, brand name, packaging, service, and warranty are part of the development – Deciding how to match the target markets’ needs
  8. 8. • Place – Getting the product into the consumers’ hands – Knowing where ones’ consumers shop – Where a product will be sold
  9. 9. • Price – This is what is exchanged for a product – Price strategies should reflect what customers are willing and able to pay – Marketers must consider the price they will charge companies (because companies will then resell the product for a higher price)
  10. 10. • Promotion: – Decisions about advertising, personal selling, sales promotion, and publicity – Deal with how customers will be told about a company, products, message, special offers – RIP: Remind, Inform, Persuade
  11. 11. • People AKA The Target Market – This is the group of people to become customers for a certain product – All marketing strategies are directed to a specific group of people – It focuses the marketing plan – Key to success – Customer Profiles are created: • Age, income level, ethnic background, occupation, attitudes, lifestyles, & geographic residence
  12. 12. • Distribution: – Deciding how to get goods in customers’ hands – Physically moving and storing goods – Main methods of transportation are by truck, rail, ship, or air
  13. 13. • Financing is – Getting the money that is necessary to pay for setting up and running a business – Business owners often obtain bank loans – Some also form corporations – Some may sell stock – Also involves decisions to offer credit or not to customers
  14. 14. • Marketing Info Management: – Obtaining good information about customers, trends, and competing products – Gathering information, storing it, and analyzing it – Collecting information continuously – Marketers find out about customer, habits, attitudes, where they live, trends – Examples: questionnaires, surveys, frequent shopper cards
  15. 15. • Pricing: – Decisions dictate how much to charge for goods and services in order to make a profit – Based on costs and what competitors charge for products – To determine price, marketers must also determine how much customers are willing to pay
  16. 16. • Product/Service Management: – Obtaining, developing, maintaining, and improving a product or a product mix – Marketing research guides what products and/or services a company puts in the market place
  17. 17. • Promotion: – RIP: Remind, Inform, Persuade about products and services – TV, commercials
  18. 18. • Selling: – Provides customers with goods and services they want – Selling in the retail market to the customer – Selling in the business-to-business market to wholesalers, retailers, manufacturers – Determining client needs and wants, responding through planned, personalized communication – Selling influences purchasing decisions and enhances future business opportunities
  19. 19. • Brand: a mark or design placed on a product to distinguish it from others • Branding & the Customer: helps customers locate the products and services they wish to buy • Parts of a Brand: – Brand Name: Words, numbers, or letters – Logo: Picture, design, graphic image – Slogan: phrase or sentence that summarizes some essential aspect of the product
  20. 20. • Viral Marketing – Fancy word for Word of Mouth • Social Networking – Facebook, Twitter, MySpace • Engage & Follow Customer • Give Back to Community • Green Marketing • Online Presence – Company website
  21. 21. STANDARD: MARKETING BENCHMARK: The student will develop a basic understanding of the fundamentals of marketing INDICATORS: 2.1 Explain marketing as a process 2.2 Explain marketing as a service to the public 2.3 Identify components of the marketing mix 2.4 Explain the functions involved in marketing goods and services 2.5 Explain the concept of branding 2.6 Explain the trends in marketing

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