Transcript Intro to Marketing

INTRODUCTION TO
MARKETING
Introduction to Marketing
BRAINSTORM
Make a list of all the terms
you think of when you hear
the word MARKETING?
BMI3C
Unit
1
Slide
2
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
3
What is the point of
marketing
It’s not about what you want to
sell, its about what the customers
want to buy
BMI3
C
Unit
1
Slide
4
What is Marketing?
Marketing seeks to
• discover the needs and wants
of prospective customers;
and
• satisfy them.
BMI3C
Unit
1
Slide
5
What is Marketing?
The key to achieving these two
objectives is the idea of
exchange: the trade of things of
value between buyer and seller so
that each is better off after the
trade.
BMI3C
Unit
1
Slide
6
AN EXAMPLE
ME: Hungry
McD’s: Needs to sell food
ME: Buy food
McD’s: Makes money
BMI3C
Unit
1
Slide
7
Requirements for
Marketing to Occur
In Your Opinion…
• What is necessary in order for
marketing to occur
(i.e. who needs to bring what to
the table?)
BMI3
C
Unit
1
Slide
9
Requirements for Marketing
1. Two or more parties with
unsatisfied needs
• I need food, McD was in need
of selling food in order to make
money
BMI3C
Unit
1
Slide
10
Requirements for Marketing
2. 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
11
Requirements for Marketing
3. 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
12
Requirements for Marketing
4. Something to exchange
• I have money, McD has food
BMI3C
Unit
1
Slide
13
DILBERT
BMI3C
Unit
1
Slide
14
What’s wrong with the PointyHaired Boss’s suggestion?
Needs & Wants
NEEDS vs. WANTS
A need occurs when a person
feels deprived of basic necessities
(food, drink, shelter)
A want is a need that is shaped
by a person’s knowledge, culture,
and personality
BMI3C
Unit
1
Slide
16
NEEDS vs. WANTS
BMI3C
Unit
1
Slide
17
If you are hungry, you
NEED
have a basic desire or
food
need to eat.
Based on your past
experience with hunger,
WANT
you may want a chocolate
apple
bar or an apple.
NEED or WANT?
water
gatorade
salad
Cologne
air
American Eagle Hoody
BMI3C
Unit
1
Slide
18
What is a Market?
A market is
• a group of people
• with a desire to purchase a
product
• and the ability or means to do
so.
BMI3C
Unit
1
Slide
19
What is a Target Market?
A target market is
• a group of potential customers
to whom an organization
directs its marketing program
•EXAMPLES: teens, parents,
seniors, extremely wealthy, etc.
BMI3C
Unit
1
Slide
20
Who Markets?
• In your notes, brainstorm 5
groups who you feel market
Who Markets?
All organizations, and many
individuals, including:
Manufacturers
• market their products to
potential customers
Ex.
BMI3C
Unit
1
Slide
22
Who Markets?
Service Businesses
• market their expertise to
potential customers
Ex.
BMI3C
Unit
1
Slide
23
Who Markets?
Not-for-profit Organizations
• market their cause to potential
donors
Ex.
BMI3C
Unit
1
Slide
24
Who Markets?
Politicians
• market their ideas to potential
voters
Ex.
BMI3C
Unit
1
Slide
25
Who Markets?
Job applicants
• market their skills to potential
employers
Ex.
BMI3C
Unit
1
Slide
26