Transcript Unit 1: Marketing Process, Consumers, and - Marketing

Unit 1: Marketing Process,
Consumers, and
Competition
Lesson 1: The Marketing Concept
Key Terms - Marketing
 Marketing

Is the process of planning, pricing,
promoting, selling, and distributing ideas,
goods, or services to create exchanges
that satisfy customers
Lesson 1: The Marketing Concept
Key Terms – Goods and Services
 Goods
Tangible items that have monetary value and satisfy your
needs and wants
Ex.
cars, toys, furniture, clothing…

 Services
Intangible items that have monetary value and satisfy needs
and wants
Ex.
hair cuts, dry cleaners, law office, movie theatres…

Key Terms – Marketing Concept
 Marketing Concept


Is the idea that a business should strive to
satisfy customers’ needs and wants while
generating profit for the firm
Careful planning of all 7 functions
Just For Laughs
Pricing
The Marketing Umbrella
Professional
Development
Communication
and Interpersonal
Skills
Business
Management,
Entrepreneurship
7 Functions
 Distribution

How to get the product in customers’ hands
 Financing

Decisions about customer payment options
 Marketing Information Management

Gathering, storing, and analysing customer
feedback – marketing research
7 Functions
 Pricing

Decisions about how much to charge customers
 Product/Service Management

Obtain, develop, maintain, improve a product
 Promotion

Effort to inform, persuade, remind customers
 Selling

Selling techniques and activities - personalized
Application of 7 Functions
Financing
 _____________
Ms. Salvador purchased a BLT sandwich from
a nearby café and was shocked when the
cashier said, “Sorry, we accept cash only”
Distribution
 _____________
The well known unique feature of Dell Inc. is
the fact that you can order online and have
your computer shipped directly to your door
within days!!!
Mgt
 Product/Service
_____________
Nintendo has developed an upgraded wrist
strap based on incidents where wrist straps
have broken and caused both damage and
injury.
Application of 7 Functions
 ____________
Selling
While shopping for a semi-formal dress, Maria
was highly impressed with the friendly
demeanor of the sales people at Holt Renfrew
Pricing
 ____________
Ms. Salvador could not believe the price Maria
paid for her dress from Holt Renfrew. Simply
flabbergasted!
Marketing
 ____________
Information Mgt
 ____________
Promotion
Whenever Cindy visits a restaurant, she
always fills out a ‘Comment Card’
When Bob asked his friend Nadim to
recommend a pizza place, the first thing that
came to mind was, “967-11-11 Phone Pizza
Pizza…hey, hey, hey…”
Did You Know?
http://people.senecac.on.ca/kerry.jarvis/marketingtrivia.htm
Why are market researchers interested in
the size of the pupil in your eye?

Dilated pupils are a good indicator of
excitement. When training salespeople they
can be taught to use indicators of product
interest by looking at their customers pupils.
Did You Know?
http://people.senecac.on.ca/kerry.jarvis/marketingtrivia.htm
Why does an auto dealer send you a follow
up letter right after you buy a car?



To help reduce your "cognitive dissonance“ or
“buyer’s remorse” [second guessing your
purchase decision]
Attempting to assure you that you made a super
purchase choice.
Introduce you to their service department so that
you will continue to purchase from them.