Transcript Marketing 101

Marketing 101
Pros and Cons of Mass Media
Quiz on Friday
“Marketing You” assignment is due Wed.
Mass Media Defined.
you may start writing
notes now...
• Refers collectively to all media technologies,
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including the Internet, television, newspapers,
film and radio, which are used for mass
communications, AND to the organizations
which control these technologies
In your groups, based on the definition provided
to you, generate a list of pros vs. cons of mass
media.
Pros of Mass Media....
• The wide reach is phenomenal – it can target
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a global audience For example, a TV
commercial during figure skating
competition during olympic can reach
billions of people on earth.
Newspapers and magazines can target a
specific group. For example, “Globe and
Mail” is read by business professionals such
as lawyers, accountants and marketing
managers etc…
Easily accessible
Pros of Mass Media....
• Huge amount of information on the
internet
• Television, movies, Internet and the radio
are amazing forms of entertainment
• Can be used for educational/inspirational
purposes
Cons of Mass Media
• The information may not be authentic –
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misinterpretation can occur. “New
Guiness commercial”….
News can and is manipulated to influence
the minds of the audiences (ie: political
control)
Media bias (ie: Journalist provides
personal preference) “CIA Admits
Using News To Manipulate the USA”
(Youtube clip)
Cons of Mass Media
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A particular event or celebrity may have undue
importance and set wrong ideals before youth  Miley
Cyrus anyone?
Unnecessary sensationalism of an issue leads to wrong
information
What is the difference between
Marketing and Advertising?
Marketing: "refers to all or part of the
process of conceiving, promoting,
distributing, and selling a product or
service."
Advertising: "is one subset of marketing. It's
the act of bringing that product or service
to the public's attention, often through
paid announcements or commercials.“
Marketing is like North America and advertising is like
Canada. Canada is part of North America.
The Marketing Concept
• The idea that a business or organization
must consider both its potential
customers and its competitors in every
important business decision.
• The focus is always on satisfying the
customer and overcoming the
competition at the same time.
Three steps to effective Marketing
• Identify an opportunity in a specific
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consumer or industrial market.
There is not too much competitiors in this
market.
Use appropriate marketing strategies to
organize marketing plans and to sell its
products or services successfully
For example, Blackberry was the first
smartphone in its industry in 1999.
What company's do this well?
Written Reflection #1
In groups of two or three, discuss the
difference between marketing and
advertisement.
Come up with an example (product or
service) and discuss how the company is
marketing it vs how the company is
advertising it.
Goods, Services and Events
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The overall goal of marketing is to distribute and
promote goods, services and/or events to those who
want them
o Good: items of merchandise, finished products, supplies or raw
materials
o Service: work done for others as an occupation or a business
o Event: a significant occurrence, or happening
Two categories of goods and services:
o Consumer example is Iphone
o Industrial example is Blackberry
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Consumer Goods:
o Intended for personal use by the general public
(ipods, cell phones, PS3s, etc)
o Industrial Goods: Products used in business to make
other products or assist in business operation
• Raw Materials: unfinished goods used in the
manufacturing of a product à paper + ink = a
newspaper
• Processed Goods: semi-finished or a finished good,
most raw materials need processing before they can
be used (ie: milk, trees to lumber, apples to juice)
Marketing Activities
• Product Development : is a marketing
strategy of selling new products to existing
markets. For example, Coke sells new line
of chai tea in Canadian market.
• Pricing: There are many pricing
strategies that marketers use to sell their
products. For example, Penetration
pricing is used by laptops and TVs.
Marketing Activities
• Sales – For example, you can use sales
employees to do door to door or tele
marketing etc.
• Inventory Management: Too little
inventory can result in poor service or loss
of sales or brand-swithing. Too much
inventory can result in higher costs and
lower profit.
Marketing Activities
• Storage : This is where you keep your
inventory. There are two types of storage:
• Storage warehouse: the goods are intended to
come to rest for some period of time
• Distribution centre: are designed to facilitate
the timely movement of goods. They are used
to facilitate sorting and consolidating
products from different plants.
Marketing Activities ... It’s not just
about advertising!
Check out the handout!
Activity - Not For Profits
• Working in groups complete the first part
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of the activity
The second part is to be completed for
homework! - due tomorrow!