Transcript Ch 1 PP
Unit 1: Marketing Basics
Ch 1: Marketing is Dynamic
Ch 1 Learning Goals
Explain why companies market goods,
services, and ideas
Describe each of the Four Ps of marketing
Define good, service, and idea
Explain how marketers determine the
marketing mix
Summarize the key elements of a marketing
plan
Day 1 Response Journal
Read A Stroke of Genius? Found on page 3
in your text.
What price do you think Vivienne should
charge for a glass of her lemonade? Why did
you select that price?
***Save As Sept 10 in your Response
Journal Folder***
Marin girl’s ‘stand’ against child slavery
Marketing Defined
How would you define marketing?
Marketing consists of dynamic activities that
focus on the customer to generate a
profitable exchange
What is the goal of marketing?
To meet the needs and wants of customers
with products and services that customers
can and will buy
Marketing is Dynamic
What makes marketing dynamic?
The word dynamic describes something that
is constantly _______________
Changing
Marketing is dynamic because customers’
needs and wants are constantly changing,
and therefore marketing must constantly
change
Marketing is Dynamic
Customers’ needs and wants change because;
Customers change
Age
• Think of the things you wanted and needed in
kindergarten. Do you want and need the same
things now?
The world customers live in changes
The economy changes
Technology changes
Social trends change
Marketing Is
Customer-Focused
A _______________
is an individual or
Customer
group who buys products
A customer can be …
A Person
A Business
A Not-for-profit organization
The Government
Read the example on page 6, paragraph 2
Marketing Is
Customer-Focused
Marketers focus on customers by;
Learning what customers need and want
and then
Developing products to meet those needs
and wants
A __________________
is a specific group
Target Market
of customers whose needs a company will
focus on satisfying
• Teens are a popular target market
• What products do you think teens are the target
market for?
Marketing Is
Relationships
The basis for marketing is the relationship
between the _________
Seller
Buyer and the _________
Many businesses try to develop long-term
relationships with their customers
Research has shown that it is less costly to
keep a current customer that to get a new
customer
As a result, many businesses focus on
developing and maintaining those
relationships
Marketing Is
Relationships
Examples;
Salespeople often contact the customer after
the sale to make sure the product is functioning
properly and meeting their needs
Salespeople/companies might send birthday
greetings or notices of sales to past customers
Businesses may reward repeat customers with
discounts or free products
Scotiabank/Cineplex SCENE Card
Pita Pit Pit Card
Marketing Is International
People can buy products
from anywhere in the
world
E.g. Japanese
products, such as the
Nintendo Wii, are
available at Conestoga
Mall and a Chinese
student who lives in
Beijing can buy a
hamburger at a
McDonald’s Restaurant
near their house
Day 1 Assigned Work
Students please complete the following;
K&U Questions #1 – 3 on page 16
Application Question #1 on page 17
***Save As Ch 1 Day 1 in your U1 Folder***
Day 2 Response Journal
Does the price of a product affect whether you
will buy it? Give a specific example to back up
your answer.
***Save As Sept 11 in your Response
Journal Folder***
Marketing Is the Four Ps
The Four Ps are the basic elements of
marketing and consist of;
Product
Place
Price
Promotion
Marketing Is the Four Ps
Product is the ________.
What
What are you selling?
Place is the _________.
Where
Where are you selling it?
How Much
Price is the _______________.
How much will the customer pay for it?
Communication
Promotion is __________________.
What do you want the customers and the
public to know?
Product
A ___________
Product is anything that can be bought or
sold
There are three types of products;
1. Good
Any physical item, something you can touch
E.g. jeans, cellphone, magazine, etc.
2. Service
An action done for you
E.g. a dry cleaner, a tanning session, etc.
3. Idea
A concept, cause, image, issue, or philosophy that can be
marketed
E.g. contribute to charity, buckle up, vote for this candidate,
etc.
Categorize the pictured products above as
either a good, service, or idea.
Place
__________
involves making products available to
Place
customers
Must be convenient; times and locations
• Read the example on page 8, paragraph 5
Involves determining when, where, and how
products get to customers
Includes decisions about where to locate stores
and decisions about retailing
Retailer
• A ____________
is a business that buys other
company’s products and resells them to the final
consumer
In marketing, the Internet is also considered a
place
Place
Place also includes
distribution
_____________
Distribution is
physically getting goods
to customers
Distribution includes;
Shipping
Storing
Inventory
Stocking of goods
Price
__________
is the amount of money
Price
requested or exchanged for a product
Determined by marketers
Price is based on
1. How much the customer will pay
2. The costs to produce the product
If the price is too high, customers may not
buy your product but if the price is too low,
you might not make enough money to cover
your expenses
Promotion
_____________
Promotion is the
process of telling people
about the product and the
company that offers it
Communication with
customers
The most visible part of
marketing
Promotion
Promotion includes;
Selling
Advertising
Sales promotion
Public relations
Creating a positive
image of your
company
Marketing Is the
Marketing Mix
The ___________________
is a plan of
Marketing Mix
action for marketing a product
Consists of the decisions made about each
of the Four Ps
Made with the target market in mind
Read the example on page 12 paragraphs
4&5
Marketing Is the
Marketing Mix
Marketing mix decisions include answers to
the following questions:
What products do customers need or
want?
Which stores will be convenient for
them?
What price will they pay?
Where will they see ads?
Marketing Is the
Marketing Mix
This is a graphic
representation of
the marketing
mix
The target
market is in the
middle to show
that all decisions
are made with
the target market
in mind
The Marketing Mix
in Action
Read the example on page 13 paragraphs 3 & 4
Try and identify the Four Ps in this marketing mix,
for the scenario outlined below.
You are hungry
You hear a commercial on the radio promoting a
new value meal at Harvey’s
The announcer says that the value meal costs
$4.95, and you have $6.00 in your pocket
You walk to Harvey’s and buy the value meal
Day 2 Assigned Work
Students please complete the following;
K&U Questions # 5 & 7 on page 16
Thinking Questions # 1 & 2 on page 16
Application Question # 3 on page 17
***Save As Ch 1 Day 2 in your U1 Folder***
Day 3 Response Journal
Name 3 locations where you have seen an ad
in the last week.
What were the ads?
Did any of them influence you to make a
purchase? Why?
***Save As Sept 14 in your Response
Journal Folder***
Marketing Is the
Marketing Plan
The marketing plan is like a road map, it is a
plan that guides a company so that it avoids
such pitfalls as;
Lost sales
Lost opportunities
Poor product planning
Key Elements of a
Marketing Plan
Key elements of a marketing plan include;
A market opportunities and analysis
Such as a SWOT analysis
A market strategy
An action plan
Monitoring and evaluating the plan
SWOT Analysis
A SWOT analysis helps a company
determine;
Strengths
Weaknesses
Opportunities
Threats
Read the example on page 14 paragraph 3
Is Marketing in
Your Future?
Marketing;
Is an exciting field
Has potential for
high earnings
Is useful in careers
not directly related
to marketing
Is Marketing in
Your Future?
This marketing course/having marketing skills
can help you;
Prepare for studies and a job in
marketing
• Read paragraphs 3 & 4 on page 15
Use marketing in other fields
• Read paragraphs 5 & 6 on page 15
Make wise consumer decisions
• Read paragraph 7 on page 15
Day 3 Assigned Work
Students please complete the following;
Complete the Key Elements of a Marketing
Plan Worksheet (provided)
Using the sheet provided, complete a
SWOT Analysis for a Canadian coffee
shops that you enjoy visiting
Thinking Question #5 on page 16
***Save As Ch 1 Day 3 in your U1 Folder***