Company
LOGO
Essential Standard 3.00
Understand the role of marketing in
business.
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Company
LOGO
Objective 3.02
Understand buying behaviors.
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Topics
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Marketing Strategy
Consumer Decision-Making Process
Major Sources of Consumer Information
Shopping Locations
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Marketing Strategy
• What does a marketing strategy provide
for a business?
– A marketing strategy provides vital
information on how a business will meet its
goals of satisfying customers that will result in
making sales and profits
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Marketing Strategy
• Two steps of a marketing strategy:
– Identify a target market
• A target market consists of a group of people that
have similar needs and wants.
– Create a marketing mix
• A marketing mix consist of a blending of the
marketing elements (product, price, distribution,
and promotion)
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Marketing Strategy continued
Steps in the consumer decision-making
process:
– Recognize a need or want
– Gather information
– Select and evaluate alternatives
– Make a purchase decision
– Determine the effectiveness of the decision
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Company
LOGO
Major Sources of
Consumer Information
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Product Testing Organizations
• Test products and services to detect
benefits.
• Examples
– Underwriter Laboratories
– Association of Home Appliance Manufacturers
– Consumers Union (Independent testing
organizations)
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Media Sources
• Provide specific information about products and
services.
• Types of media sources:
– Print
Examples
• Magazines
• Newspapers
– Broadcast Organizations
Examples
• Radio
• Television
– Internet
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Government Agencies
• Inform consumers and may handle consumer
questions.
• Types
– Federal
– State
– Local
• What are some ways that government agencies
protect people?
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Business Sources
• Business sources are available as a public
service and to sell products and services.
• Types
– The main function of advertising is to sell.
– Product labels provide helpful information about
nature of product, how to care for product, where
product was made, and the size of the product.
– Customer Service Departments focus on assisting
customers.
– Better Business Bureau (BBB) provide facts about
products or services.
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Major Sources of Consumer
Information
• What kinds of information has anyone obtained
from an advertisement?
• How was the information obtained from the
advertisement used?
• What product label has someone used recently?
• How was the information obtained from the
product label used?
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Personal Contacts
“Word of mouth” advertising.
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Company
LOGO
Shopping Locations
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Traditional Retailers
• Department Stores
– Provide broad product lines and highlight their
service
– What are some examples?
• Discount Stores
– Highlight their offering of lower prices for products
– What are some examples?
• Specialty Stores
– Provide a special line of products
– What are some examples?
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Traditional Retailers continued
• Supermarket
– Large, full service store that offer many brands of
products
– What are some examples?
• Convenience Store
– Provide popular items, offer long operating hours, and
are usually located in highly accessible areas
– What are some examples?
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Contemporary Retailers
• Specialty Superstores
– Provide wide variety of limited products at low prices
– What are some examples?
• Superstores
– Provide a wide variety products in the retail services
such as food, bakery, auto, and electronics.
– What are some examples?
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Contemporary Retailers
continued
• Warehouse Club
– Provide products in large quantities at
practical prices.
– What are some examples?
• Factory Outlets
– Provide high-quality products at low prices.
– What are some examples?
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Non-Store Shopping
• Allows purchasing of goods and services by telephone,
computer, television, fax, or door-to-door.
• What are some examples of non-store shopping
opportunities?
• Vending machines provide products through automation.
• What are some examples of vending machine shopping
opportunities?
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