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Marketing chapter 1 with video


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Marketing chapter 1 with video

  1. 1. Marketing Chapter 1<br />Marketing Today and Tomorrow<br />
  2. 2. Newsline<br />Page 2<br />
  3. 3. Section 1-1 <br />What is Marketing?<br />
  4. 4. Why Study Marketing? <br />Where does Marketing Take Place?<br />Marketing includes:<br />Advertisements in all types of media<br />Products being transported by truck, train and airplane<br />Market researches surveying shoppers in the mall<br />
  5. 5. Why Study Marketing? <br />Everyone makes marketing decisions everyday<br />Whether to use cash or a debit card<br />To buy at the store or have it shipped to your house<br />Bring your lunch or buy at school<br />
  6. 6. What is Marketing?<br />The 9 Marketing Functions:<br />Market Planning<br />Product and Service Management<br />Distribution<br />Pricing<br />Promotion<br />Selling<br />Marketing-Information Management<br />Financing<br />Risk Management<br />
  7. 7. The Marketing Functions<br />Market Planning—identifying and understanding the markets a company wants to serve and developing effective marketing strategies for each market<br />Does Hollister want to go after 30-45 year olds?<br />
  8. 8. The Marketing Functions Cont…<br />Product and Service Management—Assisting in the design and development of products and services to meet the needs of prospective customers<br />Apple combined an iPod, a cell phone and an internet browser to create the iPhone<br />
  9. 9. The Marketing Functions Cont…<br />Distribution—determining the best methods and procedures to be used so prospective customers are able to locate, obtain, and use the products and services of an organization<br />Rental car companies, led by Hertz, made it so people can reserve a vehicle and pick it up when arriving at the airport<br />
  10. 10. The Marketing Functions Cont…<br />Pricing—Establishing and communicating the value of products and services to prospective customers<br />Instead of cutting prices a store offers a free product when a certain amount is spent at the store<br />
  11. 11. The Marketing Functions Cont…<br />Promotion—Communicating information to prospective customers through advertising and other promotional methods to encourage them to purchase the organization’s products and services. (this is the most well known to most people)<br />Companies send CDs and brochures to <br />people at their homes to try and get them <br />to purchase the product or service<br />
  12. 12. The Marketing Functions Cont…<br />Selling—Direct, personal communication with prospective customers in order to assess needs and satisfy those needs with appropriate products and services<br />Lawyers, accounts and banks have people who have the job of attracting new clients<br />
  13. 13. The Marketing Functions Cont…<br />Marketing-Information Management—Obtaining, managing and using marketing information to improve decision making and the performance of marketing activities<br />A grocery store uses the bar scanner to track <br />what has been purchased and what needs <br />to be reordered<br />
  14. 14. The Marketing Functions Cont…<br />Financing—Budgeting for necessary financing and providing financial assistance to customers to assist them with purchasing products and services<br />Car companies offer financing directly from the company to get people to purchase vehicles<br />
  15. 15. The Marketing Functions Cont…<br />Risk Management—Providing security for products, personnel, and customers and reducing the risk associated with marketing activities and activities<br />The loss control people at stores like Target and Best Buy that check bags as you leave <br />Security Tags on clothing<br />
  16. 16. Judgment Call<br />Page 8<br />
  17. 17. Activity<br />Using the 9 Marketing Functions create a visual to help show all functions. See Page 8 for an example<br />This can be done using paper and crayons/markers or it can be done on the computer. Turn in when complete.<br />
  18. 18. Define Marketing<br /><ul><li>Old definition—the performance of business activities that direct the flow of goods and services from producer to consumer or user
  19. 19. New definition—the creation and maintenance of satisfying exchange relationships</li></li></ul><li>New Definition of Marketing<br /><ul><li>The creation and maintenance of satisfying exchange relationships</li></ul>Creation—suggests that marketing is involved from the beginning as products and services are being developed<br />Maintenance—means that marketing must continue to be used as long as a business or organization is operating<br />Satisfaction of both the business and the customer is an important goal of marketing<br />Exchange relationship applies the definition to any exchange where people are giving and receiving something of value<br />
  20. 20. Section 1-2 <br />Business Needs Marketing<br />
  21. 21. Activity<br />Think of 3 things you have purchased (or services you have used ) that you were not what you expected. Why did you make the purchase in the beginning and what did you do when you were dissatisfied. How could the business do a better job satisfy customers?<br />Email your responses to<br />
  22. 22. The Need for Marketing<br />Ever since people began exchanging things with each other there has been a need for marketing<br />
  23. 23. The Development of Marketing in Business<br />Self-sufficient—you do not need to rely on other for the things you need to survive<br />This is very difficult to do and takes a lot of hard work. <br />Bartering—exchanging products and services with other by agreeing on their values. This was the first example of marketing<br />A hunter would trade meat with a farmer to get grain<br />
  24. 24. The Development of Marketing in Business<br />Specialization of Labor—concentrating on one thing or a few related activities so that they can be done well<br />A farmer focuses only on growing corn because they do it well<br />Money system—established the use of currency as a recognized medium of exchange<br />Allowed people to obtain goods and services even if they do not have something to exchange<br />Central market—a location where people bring products to be conveniently exchanged.<br />Towns and cities formed at these locations<br />
  25. 25. The Function of Business<br />Production—creates and obtains products for services and sale<br />Merchandising—offering products produced or manufactured by others for sale to customers<br />Operations—ongoing activities designed to support the primary function of a business and keep it operating efficiently<br />Equipment operated and maintained, products must be obtained, transported and store, paperwork must be kept<br />
  26. 26. The Function of Business Cont…<br />Accounting and Finance—plans and manages financial resources and maintains records and information related to a business’s finances.<br />Management—involves developing, implementing and evaluating the plans and activities of a business<br />
  27. 27. Virtual Marketing<br />Page 16<br />
  28. 28. Section 1-3 <br />Understanding the Marketing Concept<br />
  29. 29. The Marketing Concept<br />Satisfying Customer Needs<br />Marketing Concept—using the needs of customers as the primary focus during the planning, production, pricing, distribution, and promotion of a product or service.<br />Identify the needs of customers<br />Develop and market products or services<br />Operate a business profitably<br />Operate profitably<br />Develop and Market<br />Identify Needs<br />
  30. 30. The Marketing Concept Cont…<br />When Customer Needs are NOT Satisfied<br />If customer needs are not met, products are not sold<br />Car companies that do not build cars that people want/need will not sell them<br />Poorly made products will be returned or not sold.<br />
  31. 31. Implementing the Marketing Concept <br />Identify the Market<br />Market—a description of a unique group of prospective customers a business wants to serve and their location<br />
  32. 32. What is the Target Market?<br />
  33. 33. Developing a Marketing Mix<br />4 Ps of Marketing<br />Product—anything offered to the market by the business to satisfy needs (products, services, ideas)<br />Place (Distribution)—locations and methods used to make the product available to customers<br />Price—amount that customers pay and the methods of increasing the value of the product<br />Promotion—methods used and information communicated to encourage customers to purchase and to increase their satisfaction<br />
  34. 34. The Kindle<br />
  35. 35. Activity<br />Find pictures for 25 different products or services (harder to find pictures though). Identify who is the main target market for each one. You have to have at least 7 different groups (you can have more).You can use images from magazines or create a collage from online images.Extra Credit—Find 2 commercials and send the links through email explaining who is the Target Market for each one.<br />Email your project to<br />