Transcript Unit 1 - Intro to Marketing

INTRODUCTION TO
MARKETING
BELL WORK
1. Finish your def’n of marketing
2. Get textbook
3. Skim through chapter one,
write down any unfamiliar
bolded terms
BMI3C
Unit
1
Slide
2
HOMEWORK
marketing concept
brand management
aggregate market
BMI3C
Unit
1
Slide
3
differentiated markets
Introduction to Marketing
BRAINSTORM
What do you think of when
you hear the word
MARKETING?
BMI3C
Unit
1
Slide
4
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.
BMI3C
Unit
1
Slide
5
Requirements for
Marketing to Occur
Requirements for Marketing
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
BMI3C
Unit
1
Slide
7
Requirements for Marketing
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
BMI3C
Unit
1
Slide
8
Requirements for Marketing
A way for the parties to
communicate
• I watch TV, McD advertises its
products on TV
• I receive mail, McD sends out
coupons
BMI3C
Unit
1
Slide
9
Requirements for Marketing
Something to exchange
• I have money, McD has food
BMI3C
Unit
1
Slide
10
HOMEWORK
Read pages 4 to 7 in the textbook
and create a chart defining the
key terms.
Term
BMI3C
Unit
1
Slide
11
Definition
Examples
Goods & Services
The Stuff that gets sold
Goods & Services
Read pages 4 to 7 in the textbook
and create a chart defining the
key terms.
Term
BMI3C
Unit
1
Slide
13
Definition
Examples
Today’s Agenda
BMI3C
Unit
1
Slide
14
Hand in Big Box assignment from
yesterday
1. Read pages 2 to 3 quietly
2. Answer questions 1 and 2
3. Discussion
4. Note
5. Activity - Goods & Services
Goods & Services
BMI3C
Unit
1
Slide
15
Key terms:
• industrial goods
• consumer goods
• raw materials
• industrial service
• processed goods • consumer service
• finished goods
When finished, take and complete
worksheet, to take up tomorrow.
EVOLUTION OF THE
MARKETING CONCEPT
Evolution of Marketing
The Production Era (1800s to 1920s)
• production creates demand
• products will sell themselves
TUIT
BMI3C
Unit
1
Slide
18
TUIT
TUIT
Evolution of Marketing
The Sales Era (1920s to 1960s)
• production is greater than
demand
• hire salespeople to find new
markets and consumers
BMI3C
Unit
1
Slide
19
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
TUIT
Evolution of Marketing
The Marketing Concept Era
(1960s to 1980s)
BMI3C
Unit
1
Slide
20
• strive to achieve organization’s
goals and satisfy consumer
needs
• marketing is integrated into
each phase of business starting
before production
Evolution of Marketing
The Marketing Orientation
Era
(1980s to today)
BMI3C
Unit
1
Slide
21
• continuously collect information
about consumers’ needs,
competitors
• share this information with other
departments and use it to create
consumer value
Today’s Agenda
BMI3C
Unit
1
Slide
22
1.
2.
3.
4.
5.
6.
7.
Read 1.4 quietly
MITRW
Homework check
Activity sheet
Discussion
Note
Activity
MARKETING ACTIVITIES
Marketing 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.
BMI3C
Unit
1
Slide
24
Marketing Activities
Research
• conduct surveys
• gather information
• analyse data
BMI3C
Unit
1
Slide
25
Marketing Activities
Product Development
• create product to satisfy
customer’s needs
BMI3C
Unit
1
Slide
26
Marketing Activities
Pricing
• establish how much to charge
for the product based on cost
of materials, how much
consumer is willing to spend
BMI3C
Unit
1
Slide
27
Marketing Activities
Packaging
• develop package to attract
attention, safely contain
product
BMI3C
Unit
1
Slide
28
Marketing Activities
Branding
• develop a name, trademark,
slogan, logo—identity—for the
product
BMI3C
Unit
1
Slide
29
Marketing Activities
Sales
• organize or be involved in the
process of getting the product
into the consumers’ hands
BMI3C
Unit
1
Slide
30
Marketing Activities
Physical Distribution
• getting the product from
factory to where it is accessible
to the consumer
BMI3C
Unit
1
Slide
31
Marketing Activities
Inventory Management
• calculating how many of each
product need to be stocked to
satisfy consumers’ needs
BMI3C
Unit
1
Slide
32
Marketing Activities
Storage
• where will you keep the
product between production
and retailer?
BMI3C
Unit
1
Slide
33
Marketing Activities
Promotion
• making consumers aware of
your product and its merits
BMI3C
Unit
1
Slide
34
HOMEWORK
Read page 18
Answer questions 1 and 2
Read section 1.5
BMI3C
Unit
1
Slide
35
Today’s Agenda
1. Take up homework
2. Based on pg. 18, define
nonprofit and not-for-profit
organizations, what are the
differences between the two?
3. Note
BMI3C
Unit
1
Slide
36
CONSUMER AND
COMPETITIVE MARKETS
Cons & Comp Markets
Consumer Market
BMI3C
Unit
1
Slide
38
• the group you try to attract:
target market
• everybody: aggregate
market
• usually a smaller group,
differentiated market based
on age, gender, etc.
Cons & Comp Markets
A target market is a group of
potential customers to whom a
company directs its marketing
program
•EXAMPLES: teens, parents,
seniors, extremely wealthy, etc.
BMI3C
Unit
1
Slide
39
Cons & Comp Markets
Competitive Market
BMI3C
Unit
1
Slide
40
• all products and services that
compete for consumers’ money
within a category
• can be broad (toys)
• can be narrow (diet colas)
• unrelated (entertainment)
Cons & Comp Markets
A product’s marketing efforts
try to influence the consumer’s
decision towards spending
money on that specific product.
BMI3C
Unit
1
Slide
41
The 4 Ps and 2 Cs
or “The Marketing Mix and
the 2 Cs”
regulatory
product
price consumer place
Marketing
BMI3C
Unit
Mix:
1
Controllable
Slide
43
Factors
promotion
Environmental Factors:
Uncontrollable
The 4 Ps and 2 Cs
product
price
place
promotion
consumer
competition
BMI3C
Unit
1
Slide
44
The 4 Ps and 2 Cs
product
price
place
promotion
consumer
competition
The product is a good,
service, idea, or event to
satisfy the consumer’s
needs.
Examples?
BMI3C
Unit
1
Slide
45
The 4 Ps and 2 Cs
product
price
place
promotion
consumer
competition
BMI3C
Unit
1
Slide
46
The price is what is
exchanged for the product,
usually money.
The 4 Ps and 2 Cs
product
price
place
promotion
consumer
competition
The place is a means of
getting the product into the
consumer’s hands.
Examples?
BMI3C
Unit
1
Slide
47
The 4 Ps and 2 Cs
product
price
place
promotion
consumer
competition
Promotion is the means of
communication used by the
seller to inform the buyer.
Examples?
BMI3C
Unit
1
Slide
48
The 4 Ps and 2 Cs
product
price
place
promotion
consumer
competition
BMI3C
Unit
1
Slide
49
The consumer is the
individual or group of
individuals who may use
your product.
The 4 Ps and 2 Cs
product
price
place
promotion
consumer
competition
The competition is other
firms that could provide a
product similar to yours.
Who competes with Nike? Pepsi?
McDonalds? Ford?
BMI3C
Unit
1
Slide
50
The Marketing Mix
Worksheet
HOMEWORK
1. Marketing Mix worksheet
2. Start thinking about 4 Ps
and 2 Cs assignment
BMI3C
Unit
1
Slide
52
Today’s Agenda
BMI3C
Unit
1
Slide
53
1. Marketing Mix worksheet
2. Read “Future Shop”, page 20,
answer questions
3. Group activity & discussion
4. Note
5. Work on assignment due
Friday
Information Technology
BMI3C
Unit
1
Slide
54
Read “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 Mix
Worksheet
Marketing Strategies
Marketing Strategies
A 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.
BMI3C
Unit
1
Slide
58
Marketing Strategies
The Marketing Plan contains:
• a section outlining marketing
goals of the business
• target market(s)
• a list of as many competitors
as possible
BMI3C
Unit
1
Slide
59
Marketing Strategies
BMI3C
Unit
1
Slide
60
The Marketing Plan contains:
• a research section, with a plan
for gathering and analysing
info
• how the product will be
positioned, with rationale
• pricing strategy
Marketing Strategies
The Marketing Plan contains:
• distribution channels & logistics
• promotional and advertising
proposal
BMI3C
Unit
1
Slide
61
Marketing Strategies
Brand strategies
The primary goal is to
communicate the value of a
product or service to the
consumer.
BMI3C
Unit
1
Slide
62
value
perceived
perceived
=
benefit
cost
Marketing Strategies
Brand strategies
see example on page 26
BMI3C
Unit
1
Slide
63
It attempts to position the product
or service by creating a positive
value equation in the consumer’s
mind.
The Value Equation
Group Activity
Marketing Strategies
Distribution strategies
Focus on the best way to
deliver a product/service to the
target market.
MANUFACTURER
BMI3C
Unit
1
Slide
65
RETAILER
CONSUMER
Marketing Strategies
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
BMI3C
Unit
1
Slide
66
Marketing Strategies
Distribution strategies
•incentives, promotions, product
display case offered in exchange
for product placement
•The manufacturer needs to push
the product through the chain
BMI3C
Unit
1
Slide
67
Marketing Strategies
Distribution strategies
• PULL: “increase distribution by
increasing consumer demand”
•focus is on selling the good to
the consumer
BMI3C
Unit
1
Slide
68
Marketing Strategies
Distribution strategies
•convince consumers that they
need the product, and that
specific brand
•requires a strong advertising and
promotions campaign
BMI3C
Unit
1
Slide
69
Marketing Strategies
Distribution strategies
The pull strategy is difficult to
use alone, the push strategy
can be. Most strategies use a
combination of the two.
BMI3C
Unit
1
Slide
70
HOMEWORK
1. Study for test on
Monday: Review notes,
1.1, 1.2, 1.4-7.
BMI3C
Unit
1
Slide
71
Make sure you understand
any of the terms you jotted
down at the beginning of
the unit!
WARNING!
This video contains extreme eighties hairstyles!
Viewer discretion is advised.
VIDEO: Famous Amos
Watch the video, write
down examples of the 4 Ps
Today’s Agenda
1.
2.
3.
4.
BMI3C
Unit
1
Slide
73
Bell work
Take up homework
Note
Video
* For test on Monday: Review
notes, 1.1, 1.2, 1.4-7.
BELL WORK
BMI3C
Unit
1
Slide
74
List 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.
HOMEWORK
For test on Monday:
Review your notes
Reread 1.1, 1.2, 1.4, 1.5, 1.6, 1.7.
BMI3C
Unit
1
Slide
75
End of Unit 1
Please insert tape
for unit 2
BMI3C
Unit
1
Slide
76