marketing today  1.1 what is marketing  1.2 businesses need marketing  1.3 understanding...

Download Marketing Today  1.1 What is Marketing  1.2 Businesses Need Marketing  1.3 Understanding the Marketing Concept  1.4 Marketing’s Role Today and Tomorrow

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  • Marketing Today1.1 What is Marketing

    1.2 Businesses Need Marketing

    1.3 Understanding the Marketing Concept

    1.4 Marketings Role Today and Tomorrow

  • 1.1 - What is Marketing?Goals for Lesson 1.1Understand the importance of studying marketingExplain what marketing is and describe the marketing functionsDefine Marketing

  • Why Study Marketing?Marketing is important and profitable. Businesses, consumers, and the economy benefit from effective marketing.Where does marketing take place?Visual vs. Non-Visual ActivitiesVisual advertisements, transportation, researchersNon-visual manufacturers, accountants, human resources

  • Businesses Directly Involved in MarketingAdvertising agenciesMarketing research firmsSales representativesTrucking companiesCredit card companiesTelemarketing businessesTravel Agencies

  • Businesses with MajorMarketing ActivitiesRetailersManufacturersBanksReal estate agenciesInsurance companiesAutomobile dealersFarmers and ranchers

  • Businesses with LimitedMarketing RoleLaw OfficesPhysiciansAccounting firmsGovernment agenciesUniversitiesConstruction businessesPublic Utilities

  • What is Marketing?Marketing FunctionsProduct/service managementDistributionSellingMarketing Information ManagementFinancingPricingPromotions

  • Marketing FunctionsProduct/Service Management - Assisting in the design and development of products and services that will meet the needs of prospective customersDistribution Determining the best methods and procedures to be used so prospective customers are able to locate, obtain, and use the products.

  • Marketing FunctionsSelling Direct, personal communication with prospective customers in order to assess needs and satisfy those needs with appropriate products and servicesMarketing-Info Management Obtaining, managing, and using marketing information to improve decision making and the performance of marketing activities.

  • Marketing FunctionsFinancing Budgeting for marketing activities, obtaining the necessary financing, and providing financial assistance to customersPricing Establishing and communicating the value of products and services to prospective customers

  • Marketing FunctionsPromotion Communicating information to prospective customers through advertising and other promotional methods to encourage them to purchase the organizations products or services.

    Thinking Critical

  • Defining MarketingOld Definition the performance of business activities that direct the flow of goods and services from producer to usersNew Marketing is the creation and maintenance of satisfying exchange relationships

  • Understanding the DefinitionCreation suggests that marketing is involved from the very beginning Maintenance means that marketing must continue to be used as long as a business or organization is operatingSatisfaction of both the business and the customer is an important goal of marketingExchange Relationships applies the definition to any exchange where people are giving and receiving something of value

  • Review Activity Identify and describe each of the seven marketing functions (product/service management, distribution, selling, marketing-information management, financing, pricing, promotion) and then provide real-life examples of those functions that you have experienced or read about.

  • 1.2 Businesses Need MarketingGoalsExplain why businesses need marketingUnderstand how marketing has developed in the business worldDescribe the functions of business

  • The Need for MarketingMarketing must be carefully plannedMarketing must be coordinated with other business activitiesGood products do not need marketing?Info about the productWhere to buy it, get to where it is soldAfford the price, good value

  • Marketing and the Development of BusinessBarteringSpecialization of LaborMoney SystemsCentral MarketsOther Marketing Activities

  • BarteringExchanging products or services with others by agreeing on their valuesDeveloped so people could exchange with others to obtain the things they needed.Hunters and farmersOne of the first examples of marketing

  • Specialization of LaborConcentrating on one or a few related activities so that they can be done well.The ability to produce large quantities of one product More of one product to exchange with people

  • Money SystemsThe use of currency as a recognized medium of exchangeNot always possible to barter for various reasonsWith money people could obtain productsMoney could be used for future purchases

  • Central MarketsA location where people bring products to be conveniently exchanged.Allowed for less travelLocation was key to an effective market

  • Other Marketing ActivitiesLoan money to buyers and sellersTransportation of products

  • Functions of BusinessProductionOperationsAccounting and FinanceManagement and administrationMarketingCoordination of business functions

  • ProductionCreates or obtains products or services for saleRaw Material obtaining raw materials for sale to customers (mining, oil drillers)Processing using raw materials and changing their form through processing so they can be used in the production of other products (paper, food products)Services no physical product (hair cut, landscaping, merchandising)

  • OperationsThe ongoing activities designed to support the primary function of a business and to keep a business operating efficiently.Building and equipment must be maintainedProduct and material managementPaperworkCustomer service

  • Accounting and FinancePlans and manages financial resources and maintains records and information related to businesses financesAmount of capital, budget management, borrowing of money, accounting

  • Management and AdministrationInvolves developing, implementing, and evaluating the plans and activities of business.Responsible for everything that occurs in the business including the work of the employeesResponsible for the performance of the company

  • MarketingAll businesses need to complete a variety of activities in order to make their products and services available to consumers and to ensure that effective exchanges occur.

  • Coordination of Business Functions1.

    2.

    3.

    4.

  • Group Discussion Using our school to illustrate how business organizations engage in various functions that must be coordinated if the organization is to be effective, explain how the school carries out its various functions that correspond to production, operations, accounting and finance, management and administration, and marketing.

  • 1.3 Understanding the Marketing ConceptGoalsDefine the marketing conceptDetermine how businesses implement the marketing

  • The Marketing ConceptUsing the needs of customers as the primary focus during the planning, production, distribution, and promotion of a product or serviceThe most successful businesses are the ones that consider customers needs as they produced and worked to satisfy those needs as they produced and marketed their products or services

  • Elements of the Marketing ConceptBusinesses must be able to identify what will satisfy customers needsBusinesses must be able to develop and market products or services that customers consider to be better than other choicesBusinesses must be able to operate profitably

  • The Marketing ConceptConsequences of not satisfying customer needsHave to rely on extensive advertising, price reductions, rebates, pressure selling, special displaysReductions in profitReluctant to buy from that company again

  • Implementing the Marketing ConceptIdentifying the marketMarket refers to the description of the prospective customers a business wants to serve and the location of those customers

  • Group DiscussionNetwork marketing as practice by Avon Products, Tupperware, Amway, and other products that are sold through networks of contacts rather than through traditional retail outlets.Explain how network marketing can help companies better understand and keep tabs on changes in the needs of their customers because there are no middlemen through which communication can be garbled.

  • Implementing the Marketing ConceptDevelop a marketing mix (the blending of four marketing elements)ProductPlace or distributionPrice Promotion

  • Marketing MixProduct is anything offered to a market by the business to satisfy needs, including physical products, services, and ideas

  • Marketing MixPlace includes the locations and methods used to make the product available to customers

  • Marketing MixPrice is the actual amount that customers pay and the methods of increasing the value of the product to the customer

  • Marketing MixPromotion includes the methods and information communicated to customers to encourage purchases and increase the satisfaction

  • JournalWhat are the advantages and the disadvantages for consumers who buy from online sites rather than from stores? In what ways are the sites a response to customer needs and wants.

  • Group Activity Using newspaper ads or magazine ads for different brands of comparable products, for example, two car ads or two ads for a movie. Based strictly on the ads, using a Venn Diagram compare the similarities and differences of the markets these advertisers seem to have identified and the marketing mixes they have developed to appeal to those markets. Which marketing effort do you think was more effective, why?

  • 1.4 Marketings Role Today and TomorrowGoalsDescribe the changing role of marketingSummarize how marketing is changing and w

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