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Bellwork Explain the following statement: Marketing is more than just promotion. 2. List 3 benefits (perks) of a marketing career. Did you know? Most magazines are produced 6 months prior to publication, requiring editors to celebrate the 4th of July in December. 1. Bellwork List 10 products or services that YOU feel “changed the world”. 2. Out of those 10, which one of those products do you think marketing MOST played a roll in helping the product/service to succeed. Did you know? When Frd Baur, the creator of Pringles died, he was cremated and placed into a Pringles can, per his wishes. 1. Bellwork Fun Friday would you rateher questions… 1. Marry a whiner or marry a bully? 2. Run across a football field with 1,000 rattlesnakes or 3 land mines? 3. Eat 15 feet of aluminum foil or 6 live gold fish? 4. Be inherited a piece of land between two countries in conflict or on a piece of land that has an active volcano? Did you know? If a meteorite lands on your property it is legally yours. Bellwork Kid Rock just announced his “$20 ticket shows” for 6 concerts this summer. He’s obviously not making a ton of $ off of this tour, so what do you think his (and his managers) marketing idea is behind this? 2. Give me one other example of how celebrities “market” themselves. Did you know? Jay-Z and Kanye make approximately $1.5 million PER show! 1. Bellwork List 5 products/services that are now a “thing of the past”. 2. Choose one of those products/services and explain to me why you think this product/service is no longer around. Did you know? You are more likely to survive a plane crash than click on an Internet banner ad… IF YOU DID NOT TURN IN BELLWORK OR YOUR SUPERBOWL ASSIGNMENT PLEASE DO SO TODAY! 1. Bellwork Today is Count Day across Michigan! 1. List 5 ways schools “market” to students/parents to get you into school on Count Day? 2. Do you think the marketing works? If so, which particular part of it? Did you know? We have actually 10 days to “count you”. So even if you aren’t here today we will still be able to track you the next 10 days. Your group project Will be due to present on Thursday- no exceptions! Even if 2 of your 3 members are gone, you will be presenting ALONE. Make sure you are following the rubric to the letter. Check mark as you go through or highlight so you know what you need to do. An FYI: Most of you are working AWESOME! But some of you are not using your time wisely, this is part of your requirements with points Bellwork What was your FAVORITE Super Bowl commercial? Why? 2. Do you think $4.5 million per 30 seconds is a reasonable amount to be spent for a commercial during the Super Bowlbasically- is it worth it? Why or why not? Did you know? The Budweiser commercial with the dog is the third in a trilogy of the commercial played in the Super Bowl. The Go Daddy commercial not aired was a spoof of that commercial. 1. Bellwork What businesses make good $$ before and during the Super Bowl? 2. Do you think that a cost of $4.5 million dollars per 30 seconds of a commercial is too much money? Explain your answer. 3. Why do you think NBC can charge so much $ for a 30 second spot? Did you know? Go Daddy pulled the commercial they had produced due to the fact that they had so much negative public opinion of it (we can watch it if you like). 1. A few things… If you didn’t turn in yesterday’s assignment on the fruit juice, please do so now Please bring headphones tomorrow- you will be watching some previous Super Bowl commercials and analyzing them Awards ceremony- anyone need me to look up your name to see if you should be going? Bellwork Thinking back to yesterday’s “round table discussion”… 1.Come election time, how do candidates “market” themselves? 2.Do you think it is fair that those candidates with a lot of $ have a bigger advantage because they can market more? Explain your answer. Did you know? Most watches displayed in advertisements are set to 10:10 because the hands of the watch frame the watch brand name and they make a smiling face. The process of developing, promoting, and distributing products to satisfy customers’ needs and wants. Can Include Both And Goods are TANGIBLE products. Tangible products can be touched. Services are INTANGIBLE products. Intangible products cannot be touched. Marketing helps connect businesses to their customer. Marketing also provides the means for the exchange process to occur. All marketing activities can be classified into one of the seven functions of marketing. Corn Flakes Providing customers with Goods and Services they want. Selling can take place in the retail market to you the customer and business to business to industrial users. Deciding how much to charge for goods and services in order to maximize profits. Obtaining, developing, maintaining, or improving a product or a product mix in response to market opportunities. Decisions are often made on the basis of marketing research which highlights customer wants and needs. The process of getting the marketing information needed to make sound business decisions. The basis for this process is marketing research. Any form of communication used to inform, persuade, or remind customers about a business’s products or services. Promotion is also used to improve a firm’s public image. Getting the money needed to finance the operation of the business. Financing also involves helping customers to purchase items. Where products are sold and how the products get from the producer to the consumer. Goods can be shipped by: Truck, Rail, Boat, Airplane, Pipeline The 7 functions of marketing add VALUE to a product or service. The added value in economics (business) terms is called UTILITY. There are 5 economics utilities involved in ALL products. They are… • Form utility involves changing raw materials or putting parts together to make them more useful. In other words, it deals with making, or producing, things. • Place utility involves having a product where customers can buy it. • Is it online, through a catalog, on QVC, in the middle of the mall, call now!, etc. • Time utility is having a product available at a certain time of year or a convenient time of year • Also, think about the store hours as also being time utility. Is a gym opened 24 hours, a grocery store? • Possession utility is the exchange of a product or service for some monetary value ($$$) • Cash, checks, credit cards, installments or layaways, financing, etc. Information Utility • Information utility involves communication with the consumer. • Salespeople, displays, packaging, labeling, advertising, etc. Let’s look at the 5 utilities Brainstorm a list of at least 5 products that students/and or staff at BAHS would want to buy at the school and use on a daily or weekly basis. Let’s answer these questions using one of the products you listed Form utility: What raw materials went into the making of this product? Place utility: Where would you place this product so your customers would have access to purchasing it? Time utility: When would be the best time of day to sell this product? The best time of year? Possession utility: How would students and/or staff pay for this product? Information utility: How would you get info about this product to your potential customers? Understanding Business - you must understand how a business works in order to apply marketing practices in our free enterprise society. Learning Interpersonal Skills – you must learn the techniques and principles of human relations in order to deal with supervisors, co-workers, customers, and friends. Perfecting Communications Skills – Good written and spoken communications are necessary in the job market. Questions or comments ? Today’s Assignment With a partner (or by yourself), answer the following questions on the 7 Marketing Functions worksheet Feel free to help out others around you! Marketing is team oriented If you do not finish, it will be homework DUE TOMORROW.