Unit 1: Marketing Basics Ch 1: Marketing is Dynamic.

Unit 1: Marketing BasicsCh 1: Marketing is Dynamic

Ch 1 Learning Goals

Explain why companies market goods, services, and ideas

Describe each of the Four Ps of marketing Define good, service, and idea Explain how marketers determine the

marketing mix Summarize the key elements of a marketing

plan

Day 1 Response Journal

Read A Stroke of Genius? Found on page 3 in your text.

What price do you think Vivienne should charge for a glass of her lemonade? Why did

you select that price?

***Save As Feb 4 in your Response Journal Folder***

Marin girl’s ‘stand’ against child slavery

Marketing Defined

How would you define marketing?Marketing consists of dynamic activities that focus on the customer to generate a profitable exchange

What is the goal of marketing?To meet the needs and wants of customers with products and services that customers can and will buy

Marketing is Dynamic

What makes marketing dynamic?The word dynamic describes something that is constantly _______________Marketing is dynamic because customers’ needs and wants are constantly changing, and therefore marketing must constantly change

Changing

Marketing is Dynamic

Customers’ needs and wants change because; Customers change

Age• Think of the things you wanted and needed in

kindergarten. Do you want and need the same things now?

The world customers live in changes The economy changes Technology changes Social trends change

Marketing Is Customer-Focused

A _______________ is an individual or group who buys products

A customer can be … A Person A Business A Not-for-profit organization The Government

Read the example on page 6, paragraph 2

Customer

Marketing Is Customer-Focused

Marketers focus on customers by; Learning what customers need and want

and then Developing products to meet those needs and wantsA __________________ is a specific group of customers whose needs a company will focus on satisfying

• Teens are a popular target market• What products do you think teens are the target

market for?

Target Market

Marketing Is Relationships

The basis for marketing is the relationship between the _________ and the _________

Many businesses try to develop long-term relationships with their customers

Research has shown that it is less costly to keep a current customer that to get a new customer As a result, many businesses focus on

developing and maintaining those relationships

Buyer Seller

Marketing Is Relationships

Examples; Salespeople often contact the customer after the sale to make sure the product is functioning properly and meeting their needsSalespeople/companies might send birthday greetings or notices of sales to past customersBusinesses may reward repeat customers with discounts or free products

Scotiabank/Cineplex SCENE Card Pita Pit Pit Card

Marketing Is International

People can buy products from anywhere in the world E.g. Japanese

products, such as the Nintendo Wii, are available at Conestoga Mall and a Chinese student who lives in Beijing can buy a hamburger at a McDonald’s Restaurant near their house

Day 1 Assigned Work

Students please complete the following; K&U Questions # 1 – 4 on page 16 Application Question #1 on page 17

***Save As Ch 1 Day 1 in your U1 Folder***


Does the price of a product affect whether you will buy it? Give a specific example to back up

your answer.


Marketing Is the Four Ps

The Four Ps are the basic elements of marketing and consist of; Product Place Price Promotion

Marketing Is the Four Ps

Product is the ________. What are you selling?

Place is the _________. Where are you selling it?

Price is the _______________. How much will the customer pay for it?

Promotion is __________________. What do you want the customers and the

public to know?

What

Where

How Much

Communication

Product

A ___________ is anything that can be bought or soldThere are three types of products;

1.A Good Any physical item, something you can touch E.g. jeans, cellphone, magazine, etc.

2.Service An action done for you E.g. a dry cleaner, a tanning session, etc.

3.Idea A concept, cause, image, issue, or philosophy that can be

marketed E.g. contribute to charity, buckle up, vote for this candidate,

etc.

Product

Categorize the pictured products above as either a good, service, or idea.

Place

__________ involves making products available to customers Must be convenient; times and locations

• Read the example on page 8, paragraph 5

Involves determining when, where, and how products get to customers

Includes decisions about where to locate stores and decisions about retailing• A ____________ is a business that buys other

company’s products and resells them to the final consumer

In marketing, the Internet is also considered a place

Place

Retailer

Place

Place also includes distribution

_____________ is physically getting goods to customers

Distribution includes; Shipping Storing Inventory Stocking of goods

Distribution

Price

__________ is the amount of money requested or exchanged for a product Determined by marketers

Price is based on• How much the customer will pay• The costs to produce the product

If the price is too high, customers may not buy your product but if the price is too low, you might not make enough money to cover your expenses

Price

Promotion

_____________ is the process of telling people about the product and the company that offers it Communication with

customers The most visible part of

marketing

Promotion

Promotion

Promotion includes; SellingAdvertisingSales promotionPublic relations

Creating a positive image of your company

Marketing Is theMarketing Mix

The ___________________ is a plan of action for marketing a product Consists of the decisions made about each

of the Four Ps Made with the target market in mind Read the example on page 12 paragraphs

4 & 5

Marketing Mix


Marketing mix decisions include answers to the following questions:

What products do customers need or want?

Which stores will be convenient for them?

What price will they pay? Where will they see ads?


This is a graphic representation of the marketing mix

The target market is in the middle to show that all decisions are made with the target market in mind

The Marketing Mix in Action

Read the example on page 13 paragraphs 3 & 4

Try and identify the Four Ps in this marketing mix, for the scenario outlined below. You are hungry You hear a commercial on the radio promoting a

new value meal at Harvey’s The announcer says that the value meal costs

$4.95, and you have $6.00 in your pocket You walk to Harvey’s and buy the value meal

Day 2 Assigned Work

Students please complete the following; K&U Questions # 5 - 7 on page 16 Thinking Questions # 1 & 2 on page 16Application Question # 3 on page 17



Name 3 locations where you have seen an ad in the last week.

What were the ads?

Did any of them influence you to make a purchase? Why?


Marketing Is the Marketing Plan

The marketing plan is like a road map, it is a plan that guides a company so that it avoids such pitfalls as; Lost salesLost opportunitiesPoor product planning

Key Elements of a Marketing Plan

Key elements of a marketing plan include; A market opportunities and analysis

Such as a SWOT analysis A market strategyAn action planMonitoring and evaluating the plan

SWOT Analysis

A SWOT analysis helps a company determine; Strengths Weaknesses Opportunities Threats

Read the example on page 14 paragraph 3

Is Marketing in Your Future?

Marketing; Is an exciting fieldHas potential for high earningsIs useful in careers not directly related to marketing

Is Marketing in Your Future?

This marketing course/having marketing skills can help you;

Prepare for studies and a job in marketing• Read paragraphs 3 & 4 on page 15

Use marketing in other fields• Read paragraphs 5 & 6 on page 15

Make wise consumer decisions• Read paragraph 7 on page 15

Day 3 Assigned Work

Students please complete the following; Complete the Key Elements of a Marketing Plan Worksheet (provided) Thinking Questions # 4 & 5 on page 16Complete a SWOT Analysis for a Canadian coffee shops that you enjoy visiting

Outline their strengths, weaknesses, opportunities and threats


Unit 1: Marketing Basics Ch 1: Marketing is Dynamic.

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