Transcript Marketing - Week 1 - MrB-business

DO NOW
• In groups students are to come up with
there definition for Marketing and what
Marketing Managers do?
Activity Page 243
• McDonalds – Marketing does not stand
still.
What is Marketing
• Video
Marketing
• NOT JUST ADVERTISING AND SELLING
PRODUCTS…
• Marketing involves many aspects of
business which include market
research, product design, pricing,
advertising and more.
Definition
• The management task that links the
business to the customer by identifying
and meeting the needs of customers
profitably – it does this by getting the right
product at the right price to the right place
at the right time.
Markets
• The place where buyers and sellers meet
to exchange. I.e. Shopping Centers, fruit
and vege market the internet.
• Also refers to the group of consumers that
is interested in a product, can legally
purchase it and has the resources to
purchase.
Markets
• Consumer Markets - A market for goods
and services bought by the final user.
• Industrial Markets – selling goods and
services in the B2B market.
Needs and Wants
• Consumers have unlimited needs and
wants and businesses marketing aims to
satisfy as many of consumers wants as
possible, this comes from persuasive
marketing campaigns.
Value and Satisfaction
• There is a distinct difference between
value and satisfaction, the cheapest
product may not always hold the most
value and the most expensive products
may not always provide the most
satisfaction.
• A consumer will consider a product to be
off good value if it provides satisfaction at
a reasonable price.
DO NOW
• How can a business offer good value and
satisfaction all at a reasonable price?
• Does the cheapest product always provide
the most value? Why or Why Not?
Homework
• What is the role and purpose of
Marketing?
• What is meant by Value and Satisfaction?