Name: Marketing Standard 1 Day 1 LESSON OUTLINE Objective 1: Understand that marketing is all around us a. Define the term “marketing” b. Identify the functions of marketing 1. Wait for your Instructor’s directions regarding the first assignment “Scavenger Hunt” found in your packet. 2. Complete the “Lecture Guide” using the “PowerPoint” Presentation and your Instructor. 3. Complete each of the worksheets as they are presented in the PowerPoint. a. Video Segment “What is a Price?” Sections 5-7 b. Complete and correct the “Vocabulary Worksheet” c. Participate in the “Marketing Management Series Event” DECA role play 4. Turn in your completed packet to your Instructor. Name: Marketing Scavenger Hunt For 15 minutes, search the school for marketing efforts. The list must include, but is not limited to, the location and supposed effectiveness of trophy displays, posters, and banners. Format your paper as shown below. Describe the item, where it is in the building, and why you think it is effective. You must have a minimum of 10 items to receive full credit for this assignment. You may NOT exit the school building. (DO NOT GO OUTSIDE!!!) Any student not in their seat, in the classroom, at the end of the time will be marked un-excused absent for the day. Item Location What did you like about this advert? Name: Marketing Marketing Is All Around Us What is Marketing? _____________________________________________________________________ _____________________________________________________________________ _____________________________________________________________________ Functions of Marketing -- ______________________ that work together to get goods and services from the producer to the consumer. 1. ____________________________________ 2. ____________________________________ 3. ____________________________________ 4. ____________________________________ 5. ____________________________________ 6. ____________________________________ 7. ____________________________________ Each is _____________________________ Distribution – Deciding ________________ and to _________________ products need to be sold to reach _____________________________. Financing – getting the _________________ necessary to _____________________ Name: Marketing Marketing Information Management – Getting information to make sound _____________________________________________. Usually obtained through _____________________________________ Pricing – How much to _____________________ to maximize _________________ Product Service Management -- _______________________________, maintaining, and improving a ________________________ in response to market opportunities. Promotion -- _______________________ with potential customer to _____________ ___________________, and _________________ them about a business’s products. Selling – Planned, personalized _____________________ that __________________ Purchase decisions. The Global Economy Marketers are found at every level of business. Nearly all business decisions have a Marketing element Marketing changes the: Number (increased variety) Quality (better quality because of competition) and Price (lower price because of competition) of products that you can buy. Name: Marketing The Marketing Concept says Businesses must satisfy customers’ _____________________in order to make a ________________ 1. If automobile manufactures do not give their _____________ a choice (what they want), they will __________________________________________. 2. That concept is true for all businesses. 3. ______________________________________________________________. Name: Marketing Vocabulary Worksheet 1. What is the definition of Marketing? 2. What do we call all of the activities that make a product or service that is capable of satisfying customers’ wants and needs? 5. What does the Marketing Concept state? 6. Create a Marketing Concept statement for the manufacture of your toothpaste. a. ____________ must sell toothpaste that is ___________ flavored. 7. Why is the above statement about your toothpaste true? 8. In which three ways does Marketing make the products you buy better? Name: Marketing MARKETING MANAGEMENT SERIES EVENT PARTICIPANT INSTRUCTIONS PERFORMANCE INDICATORS 1. Describe marketing functions and related activities. 2. Identify product’s/service’s competitive advantage. 3. Discuss motivational theories that impact buying behavior. 4. Explain customer/client/business buying behavior. 5. Demonstrate connections between company actions and results. EVENT SITUATION You are to assume the role of marketing specialist for TOUCH TECHNOLOGY, a media technology company that produces mobile phones. The CEO (judge) has asked you to develop a marketing plan for an existing product. TOUCH TECHNOLOGY is a respected leader in media technology. In hopes of increasing the company’s market share in the competitive industry, the company would like to increase marketing plans for their smart phone, the Aviator. The Aviator was the first smart phone ever produced. It was introduced to the public over a decade ago, long before the competition launched similar models. While the Aviator can still claim superior technology as a product, its competition enjoys a higher market share, universal popularity and a “coolness factor” the handheld Aviator cannot seem to match. A recent study showed that only 2% of consumers purchasing smart phones in the future would choose the Aviator. Competitors’ smart phones offer more than 100,000 applications compared to only 400 for the Aviator. Consumer feedback indicated that the Aviator’s e-mail system is difficult to use and not always dependable. The Aviator is only available in the standard black or silver color options, which many feel are outdated. The CEO (judge) has asked for you to develop a marketing plan specifically for the Aviator that will help gain a larger market share in the smart phone industry. In developing your plan, the CEO (judge) wants a prioritized list of changes that need to be made to the Aviator to support the success of the marketing strategies. You will present the marketing plan to the CEO (judge) in a role-play to take place in the CEO’s (judge’s) office. The CEO (judge) will begin the role-play by greeting you and asking to hear your ideas. After you have presented the marketing plan and have answered the CEO’s (judge’s) questions, the CEO (judge) will conclude the role-play by thanking you for your work. Name: Marketing Standard 1 Day 2 LESSON OUTLINE Objective 2: Understand the concept of private enterprise a. Explain the importance of marketing in a global economy b. Identify types of economic systems (tradition, command, market, mixed) c. Understand the four pillars of the free enterprise system (Private Property, Price System, Competition, Entrepreneurship) d. Understand the role of entrepreneurs, businesses, government, and consumers in the free enterprise system 1. Complete the “Lecture Guide” using the “PowerPoint” Presentation and your Instructor. 2. Complete each of the worksheets as they are presented in the PowerPoint. a. “ECONOMIC SYSTEM MATCHUP” Worksheet b. Complete and correct the “Vocabulary Worksheet” c. Participate in the “Food Marketing Series” DECA Role Play 3. Turn in your completed packet to your Instructor. Name: Basic Principles – The Free Enterprise System is based on: Marketing ____________________________ We can own just about anything. The system encourages individuals to own _______________________. ____________________________ -- the struggle between companies for customers. Two kinds: ______________ competition focuses on the price. __________________competition -- factors not related to price such as quality, service, location, reputation. ____________ – the money earned from conducting business after all costs and expenses are paid. –Profit is the __________________ for taking a risk. Motivation - the more people feel appreciated the harder they will work. –Profits are _____________ when sales are __________ and costs are __________. The Role of Government1. ____________________________ – military, police, fire, education, transportation, etc. 2. __________________________ laws to protect safety, health, and welfare of individuals 3. _______________________________ – SBA, trade alliances Supporter of Business • I mports – Items coming into a Country • E xports – Items going out to a different Country • T rade Surplus – When a Country Exports more than it Imports • This is good, you’re selling more than you are buying. • Trade Deficit – When a Country Imports more than it Exports • This is bad, you’re buying more than you are selling. Economic Systems • T raditional – Barter system. Third World Countries. Products traded for Products. Gold (or Name: Marketing precious metals) as currency.. Property is viewed as communal for the good of the village. • C ommand – Government responsible for deciding who gets what resources. Products are rationed. From each according to ability to each according to need. Total Government control of trade. No private ownership of property. Economic Systems Cont. • M arket – Complete freedom of trade. Products can easily be traded between people. Private ownership of property with no rules regarding the use of the property. Supply and Demand set prices. • M ixed – A “mix” of Command and Market. Private ownership of property with Government regulation of what you can/cannot do with the property. Resources can be traded between people but there may be rules regarding how or when. Forms of Ownership • Market/Mixed economies that allow for private ownership • S ole Proprietorship – One person owns the company. All the risk but also all the profits belong to the owner. Forms of Ownership Cont. • P artnership – Two to three persons share ownership of the company. They share the risk but also share the profits. • C orporation – Legal separation from the company and the owners. Company is treated as an individual . If the company goes bankrupt the owners personal assets remain untouched. Name: Marketing ECONOMIC SYSTEM MATCHUP Directions: Match each of the following statements to the type of economic system that it characterizes. Record your responses in the spaces provided. When you have finished, compare your responses with those found in the answer guide provided by your instructor. T-- Traditional Economic System C - Command Economic System S - Mixed Economic System M - Market Economy 1. _____ Prices set by the government 2. _____ Free competition 3. _____ Lack of growth and progress 4. _____ Consumers make economic decisions 5. _____ Government sets production quotas 6. _____ Government tells workers whether they will work 7. _____ Based on habits, customs, and beliefs 8. _____ Private ownership of property with no restrictions 9. _____ Great Britain 10. _____ China 11. _____ Subsistence system 12. _____ Government makes all economic decisions 13. _____ High taxes 14. _____ Government owns part of the means of production 15. _____ United States 16. _____ Undeveloped countries in Asia, Africa, Latin America, Middle East 17. _____ Heavy use of advertising Name: Vocabulary Worksheet Marketing Define: 1. Provider of Services 2. Protector of Consumers 3. Enforcer of Rules and Regulations 4. Sole Proprietorship 5. Partnership 6. Corporation 7. Traditional economic system 8. Command economic system 9. Market economic system 10. Mixed economic system Four pillars of Free Enterprise include Private Property, Price System, Competition, Entrepreneurship. Define each of these: 11. Private Property 12. Price System 13. Competition 14. Entrepreneurship Name: Marketing Economic Dice Everyone has their own dice. A decision must be made about how you are going to allocate your resources. You can “claim” any number from 1-6. However, each choice has a consequence. You claim a choice by turning your dice to the desired number (without anybody seeing it) and covering it with your hand. The team leader calls out 3, 2, 1, and everyone removes their hand at the same time. 1. 2. 3. 4. If everyone claims a 2, 3, 4, or 5 then all players get 50 points. If only one person claims a 1 or 6 then that one person gets 100 points and all 2-5 players get 25. If more than one person claims a 1 or 6 then they get no points and the 2-5 players each get 75. If more than one person claims a 1 or a 6 (all 1’s or all 6”s) then they each get 50 points and the 25 players each get 0. First person to 1,000 wins a small prize. If the group reaches 1,000 together then each player gets a prize. (The prize isn’t much so DON’T CHEAT, Karma on all those who fraud a teacher!) Questions: From the results of your group… which economic system did your group follow? _____________________________________ did you ever claim a 1 or a 6, what motivated you to do this? ____________________________ did you consistently choose a 2-5, why? ____________________________________________ did you consistently choose all 1’s or all 6’s, why? ____________________________________ Why is there a rule regarding all 1’s or all 6’s? _______________________________________ In real life, do your financial actions affect others? (Yes/No then defend your position)_______ _____________________________________________________________________________ _____________________________________________________________________________ Who protects people from negative impact? _________________________________________ Name: Marketing Standard 1 Day 3 LESSON OUTLINE Objective 3: Understand the marketing mix or 4P’s of marketing a. Identify the four elements of the marketing mix (4P’s of marketing -Product, Price, Place, Promotion) b. Discover how each element is strategically used to make marketing decisions 1. Complete the “Lecture Guide” using the “PowerPoint” Presentation, the book, and your Instructor. 2. Complete each of the worksheets as they are presented in the PowerPoint. a. “Marketing’s 4 P’s: The Consumer Angle” Video Listing Guide b. Complete the “Vocabulary Review” c. Participate in the “TRAVEL AND TOURISM MARKETING MANAGEMENT” DECA Role Play 3. Complete the “Test Review” 4. Turn in your completed packet to your Instructor and take the Test. Name: Marketing Fundamentals of Marketing Marketing Mix -- Basic marketing ___________________ – the four P’s 1. __________________________ 2. __________________________ 3. __________________________ 4. __________________________ Product Strategies What product to ____________ How to _____________ it What _________name to use What __________ to project Place Strategies _________ and __________ a product will be distributed. Price Strategies Reflect what customers are ______________________. Promotion Strategies How potential customers will be _________ about the new product Name: •What the ____________ will be Marketing •When and where it will be delivered •What _______________ are there to purchase it The Marketing Mix The elements _____________________ The Marketing Mix – The 4 P’s •How does an organization measure the value of their marketing investment • ROMI (Return on Marketing Investment) •A Marketing Plan is a document that directs a company’s marketing activities •Management must select a ______________ of marketing mix decisions that will satisfy target markets and achieve organizational ___________ Name: Marketing Marketing’s 4 P’s: The Consumer Angle Where does consumer research come from? What are the two main markets? Qualitative Research includes: Quantitative Research includes: What does the Marketing Mix include? 1. 2. 3. 4. The Product is? What is Price? What does Place mean? Promotion is? What is the “fifth” P? Marketing = ______________- PRODUCT Products include? PRICING What type of questions should you ask before setting a price? How do you price a product to capture as many buyers a possible? Price = _______________ Name: What is Skimming? What is Penetration? PLACE Most importantly Place includes Direct Distribution Indirect Distribution How did DELL distribute the computers? PROMOTION What does successful promotion allow consumers to achiever? Mr. Wipple blanketed the airwaves with “ What did they build in NYC? What are some examples of technology in Promotion? POSITIONING What is Positioning? How did Starbucks “change” coffee? BRANDING How did branding start? What is a brand? People buy products because: Porsche brand its cars? Who is at the heart of Marketing? Who decides which products succeed? Marketing Name: Marketing Vocabulary Review 1. _______________ Activities that work together to satisfy target markets and achieve organizational goals. 2. _______________ How and where products are transported? 3. _______________ The art of informing the public about a product using a variety of methods, some you paid for others where free, is called? 4. _______________ The Marketing Mix (4 P's) include? 5. _______________ Decisions about what product to make, how its packaged, branding, and image are which marketing mix element? 6. _______________ How much customers are willing to spend for a product. Name: Marketing TRAVEL AND TOURISM MARKETING MANAGEMENT TEAM DECISION MAKING EVENT SPECIFIC PERFORMANCE INDICATORS EVALUATED Describe the nature of current economic problems. Describe current issues and trends in the travel and tourism industry. Describe the nature of target marketing in the travel and tourism industry. Develop a marketing plan. Determine services to provide customers. Develop strategies to position a product/business. Explain the role of promotion as a marketing function. CASE STUDY SITUATION You are to assume the roles of employees in the marketing department of COASTAL AIRWAYS, a midsize airline company. The airline’s general manager (judge) has asked you to prepare a marketing plan. COASTAL AIRWAYS, a family-owned airline, has been in business for 15 years. The company specializes in flying to small cities along the coast where most major airlines don’t fly. The airline has a fleet of 75 planes ranging from small prop planes up to its biggest plane, a DC-9. The average daily passenger load is 1,500. The majority of customers are vacationers, but business professionals are the fastest-growing segment. While your traditional target market has been people looking for a good value for vacation travel, both business travelers and those traveling for personal reasons have given the airline high marks in customer satisfaction—COASTAL AIRWAYS has been one of the highest-rated airlines for the past 10 years. COASTAL AIRWAYS is known for providing no-frills, on-time travel at a reasonable price. With its growth over the past several years, COASTAL even offers a better selection of travel times to several destinations than those of the major airlines. Recent world events have put the travel industry as a whole into a downward spiral. Many airline companies are operating fewer flights, and in some case even discontinuing service on less-profitable routes, because they cannot get their flights filled. Because of its slow growth over the years and its specific niche in the market, COASTAL AIRWAYS isn’t feeling that squeeze yet. In fact, management has decided to add new daily flights for their busiest routes, with the option to add even more, to accommodate the additional demand of business travelers. COASTAL AIRWAYS is essentially filling the voids left by airlines who have reduced their number of flights in anticipation of an increase in demand back to previous levels, or even higher. COASTAL AIRWAYS is confident that it will remain a first choice for people traveling for personal reasons, vacation or otherwise. It is just a matter of time, as people become more comfortable again with air travel, before personal travel returns to previous levels. Still, the largest area of growth opportunity is business travelers. You know several characteristics of the average business traveler—business travelers are more cost conscious than in the past, they look for convenience in travel schedules, and they tend to be more brand loyal than personal travelers. The airline’s general manager (judge) wants you to create a plan to attract the business travel market, while at the same time maintaining the airline’s strong appeal to personal travelers. The plan should include advertising and promotional strategies, as well as services offered to customers. Name: Marketing Test Review 1) Deciding how, where, and to whom products need to be sold to reach the Consumer is called __________. A B C D Ans: ________________________ 2) A product that cannot be stored. It is generally considered to be in-tangible. A B C D Ans: ________________________ 3) A product that can be stored. Generally considered to be tangible. A B C D Ans: ________________________ 4) A combination of four strategies that management uses to market a product and achieve organizational goals A B C D Ans: ________________________ 5) What is the term for the phrase "Companies sell what Customers want." A B C D Ans: ________________________ 6) As a funder of public libraries, the government is acting in what role? A B C D Ans: ________________________ 7) Activities that work together to get goods and services from producers to consumers A B C D Ans: ________________________ 8) Getting the money necessary to operate a business A B C D Ans: ________________________ 9) Getting information to make sound business decisions A B C D Ans: ________________________ 10) What is the term for the struggle between companies for customers? A B Ans: ________________________ 11) Which of the four P’s of marketing effects the Location and Transportation of the product? A B C D Ans: ________________________ 12) What is the group that decides whether or not a business will survive? A B C D Ans: ________________________ 13) one to five percent of a business's sales. A B C D Ans: ________________________ 14) Economic System where property is viewed as communal for the good of the village. A B C D Ans: ________________________ 15) Economic System where the Government has total control of trade. There is no private ownership of property. A B C D Ans: ________________________ Name: Marketing 16) Economic System where there is private ownership of property with no rules regarding the use of the property. Supply and Demand set prices. A B C D Ans: ________________________ 17) Economic System with Government regulation of what you can/cannot due with the property. Resources can be traded between people but their may be rules regarding how or when. A B C D Ans: ________________________ 18) One person owns the company. All the risk but also all the profits belong to the owner. A B C D Ans: ________________________ 19) A country that imports more than it exports is experiencing a Trade __________. A B C D Ans: ________________________ 20) What is the term for the phrase "Companies sell what Customers want." A B C D Ans: ________________________ 21) Which of the following are the Economic Benefits of Marketing? A B C D Ans: ________________________