1.01
Understand
marketing’s role and
functions in business to
facilitate economic
exchanges with
customers.
“Marketing is beneficial to
consumers because it brings new
and improved products to the
market, as well as lowering prices.”
• List five products you or your family use that
are new or have been improved
• List five products your family uses that now
have lowered or reduced prices
• List five stores which have lowered their
prices
Marketing is…
• The process of developing,
promoting, pricing and distributing
products in order to satisfy
customers’ needs and wants.
• All activities needed to get a product
from the manufacturer to the
consumer.
A TARGET MARKET is…
• The group of consumers a business
desires to have as ___________.
• Example?
• Customer vs. Consumer
– See if you can figure out the blanks w/
your table mates.
Activity 1
• Complete “Target Market Match”
• Individual Work
• You have 5 minutes or less.
Target Market Match
• Walmart
– People on a limited budget
• Lane Bryant
– 25 yr old women, size 20
• Hollister
– Teenage boys
• Kids R Us
– Family w/ 3 children under the age of 6
• Applebees
– People looking for an inexpensive sit down
restaurant
Target Market Match
• Claire’s Boutique
– Teenager needing costume jewelry for the
prom
• Home shopping channel
– A person who is living sixty miles from the
nearest jewelry store
• McDonalds
– People who do not have time to cook
• Bass Pro Shop
– Avid hunter/fisherman
• Petite Sophisticates
– 21 year old career women, size 5
Do you know the difference?
• Consumer vs Industrial
•Durable vs nondurable
DURABLE VS NONDURABLE
• Durable goods tend to have a long useful life. For
statistical purposes, a durable good is expected to
last at least three years, according to the
Economics and Statistics Administration.
– Examples: Jewelry, furniture, washer/dryer, some
clothes
• Non-durable Goods consumed in a short time or
that have useful lives of less than three years.
– Examples: Food, medicine, some electronics
ACTIVITY 2
• Get with your 8 o’clock appointment
• Discuss definitions and complete
examples for section #3
• You have 5 minutes
WARM UP:
Label paper - 1.01 Review
Copy and answer the following questions:
1. Trey purchases notebooks for his
daughter to use in school. Trey is
known as the
2. The group of consumer that a
business desires to have as customers
are it’s:
The marketing concept
is…
• A business approach that directs all
marketing efforts towards satisfying
customer’s wants and needs.
Elements of the
Marketing Concept
• Customer Orientation: Do it the
customer’s way
• Company Commitment: Do it better
• Company Goals: Do it with success in
mind
Market Planning
• The process businesses utilize to
achieve their goals.
• Businesses must reflect using SWOT
analysis to understand where they
are currently in the marketplace and
to determine the direction they want
to navigate.
The benefits to
marketing are…
•
•
New and improved products
Lower prices
Do You Know???
• Taylor purchases shoes for mom
– Customer
• Customer orientation and company
commitment & goals
– Marketing concept
• Hollister desires to have teenagers
as customers
– Target marketing
• Taylor asking for a BMW
– want
ACTIVITY 3
• Get into groups of 4 or 5
• Get the following paper: TARGET
MARKET Poster People (ONE PER
GROUP) from the front table.
• Take the rest of the day to complete
this activity.
– You can use the magazines, scissors, and
glue from the supply cabinets
– You can use the computer to print out
pictures (UP TO 4).
Activity 4
Warm Up - individual
Label the paper “marketing categorizing” - divide
the piece of paper into six sections, labeling the
sections
1). wants
2). needs
3). consumer/ industrial good/service
4). durable/ nondurable goods
5&6). chose 2 (idea, people, place, or organization).
Students are to obtain pictures from
magazines and find TWO examples of each
term (should have 12 pictures all together.
Classify the functions of
marketing
• Selling
– Determining and responding to customer’s
needs and wants through personalized
communication.
– It is intended to influence purchase decisions
and increase customer satisfaction.
– For example, at The Limited, Taylor searches
for a birthday present for her sister, when
Gwen (a _________________) asks if she
could help her find the correct size.
Classify the functions of
marketing
• Pricing
– Determining a value to charge for products.
– It is important to consider what competitors
are charging and the amount customers are
willing and able to pay.
– For example, when deciding what ________to
charge for their latest athletic shoe, Nike
must take into consideration the cost of
producing, _______________, and
distributing the shoe
Classify the functions of
marketing
• Product/service management
– Designing, producing, maintaining,
improving, and obtaining products to
meet customer’s wants and needs.
– For example, redesigning the Toyota
__________ to have more/better
features.
Classify the functions of
marketing
Channel Management
– Transporting, storing, and handling
goods from the manufacturer to the
consumer
– For example, John Deere lawn equipment
is __________________ to Home
Depot by tractor-trailers
Classify the functions of
marketing
• Marketing Information Management
(MIM)
– Gathering information, analyzing
information, and utilizing information
for use in making marketing decisions.
– For example, Amazon.com sends a
______________to customers who
purchased the latest New York Times
best sellers.
Classify the functions of
marketing
• Promotion
– Communication used to inform,
persuade, or remind customers about a
business’s products.
– The most common form of promotion is
advertising.
– For example, McDonalds decides to
broadcast a 30 second television
______________ during the Super
Bowl.
NAME THAT FUNCTION!
• A billboard gives a description about the grand
opening of a new store.
– Promotion
• Styles of athletic equipment are selected to
be sold in a department store
– Product/service management (PSM)
• A consumer answers survey questions after
sampling a new blue ray player
– Marketing/Information Management (MIM)
• A salesperson answer a customers questions
about the care of a leather coat.
– Selling
• Management of a local clothing store decides
to begin carrying a line of Miami Heat jerseys
– PSM
NAME THAT FUNCTION!
• Shoes are transported from the factory to
NIKE by truck.
– Channel management
• Ties sold at Macys have a markup of 35%
based on cost.
– Pricing
• Management has decided to use TV
commercials rather than newspaper ads.
– Promotion
• Winter coats discounted 25%
– Pricing
• Cotton for use in the production of t-shirts
is stored in a warehouse.
– Channel management
Activity 5
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•
•
•
Get with your 12 o’clock appointment
Complete “1.01 Vocabulary Matching Review”
You have 10 minutes.
Project