Transcript Target marketing

1.01
Understand
marketing’s role and
functions in business to
facilitate economic
exchanges with
customers.
“Marketing is beneficial to
consumers because it brings new
and improved products to the
market, as well as lowering prices.”
• List five products you or your family use that
are new or have been improved
• List five products your family uses that now
have lowered or reduced prices
• List five stores which have lowered their
prices
Marketing is…
• The process of developing,
promoting, pricing and distributing
products in order to satisfy
customers’ needs and wants.
• All activities needed to get a product
from the manufacturer to the
consumer.
A target market is…
• The group of consumers a business
desires to have as customers.
• Customer vs. Consumer
The marketing concept
is…
• A business approach that directs all
marketing efforts towards satisfying
customer’s wants and needs.
Elements of the
Marketing Concept
• Customer Orientation: Do it the
customer’s way
• Company Commitment: Do it better
• Company Goals: Do it with success in
mind
Market Planning
• The process businesses utilize to
achieve their goals.
• Businesses must reflect using SWOT
analysis to understand where they
are currently in the marketplace and
to determine the direction they want
to navigate.
The benefits to
marketing are…
•
•
New and improved products
Lower prices
Do You Know???
• Taylor purchases shoes for mom
– Customer
• Customer orientation and company
commitment & goals
– Marketing concept
• Hollister desires to have teenagers
as customers
– Target marketing
• Taylor asking for a BMW
– want
Assignment 1- group
• Target Market Activity
– Follow the instructions on provided
paper.
Assignment 2 - individual
Label the paper “marketing categorizing” divide the piece of paper into six sections,
labeling the sections
1). wants
2). needs
3). consumer/ industrial good/service
4). durable/ nondurable goods
5&6). chose 2 (idea, people, place, organization).
Students are to obtain pictures from
magazines and find TWO examples
of each term.
Classify the functions of
marketing
• Selling
– Determining and responding to customer’s
needs and wants through personalized
communication.
– It is intended to influence purchase decisions
and increase customer satisfaction.
– For example, at The Limited, Taylor searches
for a birthday present for her sister, when
Gwen (a _________________) asks if she
could help her find the correct size.
Classify the functions of
marketing
• Pricing
– Determining a value to charge for products.
– It is important to consider what competitors
are charging and the amount customers are
willing and able to pay.
– For example, when deciding what ________to
charge for their latest athletic shoe, Nike
must take into consideration the cost of
producing, _______________, and
distributing the shoe
Classify the functions of
marketing
• Product/service management
– Designing, producing, maintaining,
improving, and obtaining products to
meet customer’s wants and needs.
– For example, redesigning the Toyota
__________ to have more/better
features.
Classify the functions of
marketing
Channel Management
– Transporting, storing, and handling
goods from the manufacturer to the
consumer
– For example, John Deere lawn equipment
is __________________ to Home
Depot by tractor-trailers
Classify the functions of
marketing
• Marketing Information Management
(MIM)
– Gathering information, analyzing
information, and utilizing information
for use in making marketing decisions.
– For example, Amazon.com sends a
______________to customers who
purchased the latest New York Times
best sellers.
Classify the functions of
marketing
• Promotion
– Communication used to inform,
persuade, or remind customers about a
business’s products.
– The most common form of promotion is
advertising.
– For example, McDonalds decides to
broadcast a 30 second television
______________ during the Super
Bowl.
DO YOU KNOW??
• Using technology to improve MP3 players.
Product/Service Management
• Management decides to mark up products by 100%
Pricing
• Customers fill out an in-store survey.
MIM
• Salespeople assist all customers in the store.
Selling
• Internet advertising is used in conjunction
with television advertising.
Promotion
• Fruits and vegetables are delivered by tractor-trailers.
Channel Management