introduction to marketing. bmi3c unit 1 slide 2 bell work 1.finish your def’n of marketing 2.get...

INTRODUCTION TO INTRODUCTION TO MARKETINGMARKETING

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BELL WORKBELL WORK1. Finish your def’n of

marketing2. Get textbook3. Skim through chapter one,

write down any unfamiliar bolded terms

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H O M E W O R KH O M E W O R Kmarketing concept

brand management

aggregate market

differentiated markets

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Introduction to Introduction to MarketingMarketing

BRAINSTORMWhat do you think of

when you hear the word MARKETING?

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What is Marketing?What is Marketing?

Marketing is the sum of all the activities involved in planning, pricing, promoting, distributing, and selling of goods and services to satisfy consumers’ needs and wants.

Requirements for Requirements for Marketing to OccurMarketing to Occur

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Requirements for Requirements for MarketingMarketing

Two or more parties with unsatisfied needs

•I am in need of food, McD is in need of selling food in order to make money

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Desire and ability to satisfy those needs

•I want to curb my hunger and have money, McD has food and a way for me to purchase it from them

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A way for the parties to communicate

•I watch TV, McD advertises its products on TV

•I receive mail, McD sends out coupons

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Something to exchange•I have money, McD has food

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HOMEWORKHOMEWORKRead pages 4 to 7 in the textbook and create a chart defining the key terms.

Term Definition Examples

Goods & ServicesGoods & Services

The Stuff that gets sold

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Goods & ServicesGoods & ServicesRead pages 4 to 7 in the textbook and create a chart defining the key terms.

Term Definition Examples

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Today’s AgendaToday’s AgendaHand in Big Box assignment

from yesterday1. Read pages 2 to 3 quietly2. Answer questions 1 and 23. Discussion4. Note5. Activity - Goods &

Services

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Goods & ServicesGoods & ServicesKey terms:• industrial goods • consumer goods• raw materials • industrial service• processed goods • consumer service• finished goodsWhen finished, take and complete worksheet, to take up tomorrow.

EVOLUTION OF THE EVOLUTION OF THE MARKETING CONCEPTMARKETING CONCEPT

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Evolution of MarketingEvolution of Marketing

The Production Era (1800s to 1920s)

• production creates demand• products will sell themselves

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The Sales Era (1920s to 1960s)

• production is greater than demand

• hire salespeople to find new markets and consumers

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The Marketing Concept Era (1960s to 1980s)

• strive to achieve organization’s goals and satisfy consumer needs

• marketing is integrated into each phase of business starting before production

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The Marketing Orientation

Era (1980s to today)

• continuously collect information about consumers’ needs, competitors

• share this information with other departments and use it to create consumer value

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Today’s AgendaToday’s Agenda1. Read 1.4 quietly2. MITRW3. Homework check4. Activity sheet5. Discussion6. Note7. Activity

MARKETING MARKETING ACTIVITIESACTIVITIES

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Marketing ActivitiesMarketing Activities

Summarize the ten marketing activities and indiciate which high school courses (besides marketing) which you would take if you wanted to get into that field.

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Research•conduct surveys•gather information•analyse data

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Product Development•create product to satisfy customer’s needs

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Pricing•establish how much to charge for the product based on cost of materials, how much consumer is willing to spend

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Packaging•develop package to attract attention, safely contain product

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Branding•develop a name, trademark, slogan, logo—identity—for the product

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Sales•organize or be involved in the process of getting the product into the consumers’ hands

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Physical Distribution•getting the product from factory to where it is accessible to the consumer

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Inventory Management•calculating how many of each product need to be stocked to satisfy consumers’ needs

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Storage•where will you keep the product between production and retailer?

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Promotion•making consumers aware of your product and its merits

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HOMEWORKHOMEWORKRead page 18Answer questions 1 and 2Read section 1.5

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Today’s AgendaToday’s Agenda1. Take up homework2. Based on pg. 18, define

nonprofit and not-for-profit organizations, what are the differences between the two?

3. Note

CONSUMER AND CONSUMER AND COMPETITIVE COMPETITIVE

MARKETSMARKETS

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Cons & Comp MarketsCons & Comp Markets

Consumer Market•the group you try to attract: target market•everybody: aggregate market

•usually a smaller group, differentiated market based on age, gender, etc.

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Cons & Comp MarketsCons & Comp MarketsA target market is a group of potential customers to whom a company directs its marketing program

•EXAMPLES: teens, parents, seniors, extremely wealthy, etc.

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Competitive Market•all products and services

that compete for consumers’ money within a category•can be broad (toys)•can be narrow (diet colas)•unrelated (entertainment)

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A product’s marketing efforts try to influence the consumer’s decision towards spending money on that specific product.

The 4 Ps and 2 CsThe 4 Ps and 2 Cs

or “The Marketing Mix and the 2 Cs”

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Environ-mental Factors:Uncontrollable

MarketingMix:ControllableFactors

consumer

product

promotion

placeprice

regulatory

soci

alcom

petitive

economic technological

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The 4 Ps and 2 CsThe 4 Ps and 2 Csproductpriceplacepromotionconsumercompetition

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The product is a good, service, idea, or event to satisfy the consumer’s needs.

Examples?

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The price is what is exchanged for the product, usually money.

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The place is a means of getting the product into the consumer’s hands.

Examples?

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Promotion is the means of communication used by the seller to inform the buyer.

Examples?

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The consumer is the individual or group of individuals who may use your product.

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The competition is other firms that could provide a product similar to yours.

Who competes with Nike? Pepsi? McDonalds? Ford?

The Marketing MixThe Marketing Mix

Worksheet

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H O M E W O R KH O M E W O R K1. Marketing Mix worksheet2. Start thinking about 4

Ps and 2 Cs assignment

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Today’s AgendaToday’s Agenda1. Marketing Mix worksheet2. Read “Future Shop”, page

20, answer questions3. Group activity &

discussion4. Note5. Work on assignment due

Friday

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Information TechnologyInformation TechnologyRead “Future Shop” on page 20, answer questions.At your table, compare answers to #1, list 3 advantages (benefits) and 3 disadvantages (costs). What can Future Shop do to

capitalize on the advantages or downplay the disadvantages?

Compare your answers to #2

The Marketing MixThe Marketing Mix

Worksheet

Marketing StrategiesMarketing Strategies

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Marketing StrategiesMarketing StrategiesA strategy is a method to carry out an action plan to reach a goal. A marketing strategy explains how a company will carry out the marketing plan, its goals, and the marketing mix formula to achieve those goals.

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Marketing StrategiesMarketing StrategiesThe Marketing Plan contains:

•a section outlining marketing goals of the business

•target market(s)•a list of as many competitors as possible

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•a research section, with a plan for gathering and analysing info

•how the product will be positioned, with rationale

•pricing strategy

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•distribution channels & logistics

•promotional and advertising proposal

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Brand strategiesThe primary goal is to communicate the value of a product or service to the consumer.

value = -perceivedbenefit

perceivedcost

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Brand strategiessee example on page 26

It attempts to position the product or service by creating a positive value equation in the consumer’s mind.

The Value EquationThe Value Equation

Group Activity

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Distribution strategiesFocus on the best way to

deliver a product/service to the target market.

MANUFACTURER RETAILER CONSUMER

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Distribution strategies•PUSH: “If the product is out there where people will see it, they will buy it.”•focus on selling the good to the retailer, importer or wholesaler

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Distribution strategies•incentives, promotions, product display case offered in exchange for product placement

•The manufacturer needs to push the product through the chain

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Distribution strategies•PULL: “increase distribution by increasing consumer demand”•focus is on selling the good to the consumer

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Distribution strategies•convince consumers that they need the product, and that specific brand

•requires a strong advertising and promotions campaign

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Distribution strategiesThe pull strategy is difficult to use alone, the push strategy can be. Most strategies use a combination of the two.

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H O M E W O R KH O M E W O R K

1. Study for test on Monday: Review notes, 1.1, 1.2, 1.4-7.

Make sure you understand any of the terms you jotted down at the beginning of the unit!

VIDEO: Famous AmosVIDEO: Famous Amos

Watch the video, write down examples of the 4

Ps

WARNING!This video contains extreme eighties hairstyles!

Viewer discretion is advised.

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Today’s AgendaToday’s Agenda1. Bell work2. Take up homework3. Note4. Video

* For test on Monday: Review notes, 1.1, 1.2, 1.4-7.

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BELL WORKBELL WORKList three items you frequently purchase. Identify the product, price, place(s) where it can be bought, how it is promoted, who the target market (consumer) is, and who provides competition for that product. Be prepared to share one.

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HOMEWORKHOMEWORKFor test on Monday:Review your notesReread 1.1, 1.2, 1.4, 1.5, 1.6, 1.7.

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End of Unit 1End of Unit 1

Please insert tapefor unit 2

introduction to marketing. bmi3c unit 1 slide 2 bell work 1.finish your def’n of marketing 2.get...

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