Download Marketing Power Point (February Meeting)

Holland Middle School FBLA
February General Membership
Meeting
Thursday February 17th 2017
Business Spotlight
Questions?
 What was the purpose of doing the Business Spotlight?
 Why did we pick the businesses we highlighted?
 How does the business spotlight relate to FBLA/ This
Lesson?
Why Is Marketing Important?
 Financial success is a direct result of an
organization’s ability to effectively market its
products and services
 A business achieves profitability when they offer
the goods and services that customers need and
want at the right price
 Marketers strive to identify and understand all
factors that influence consumer buying decisions
Benefits of Marketing
The marketing process serves many purposes and
provides numerous benefits for the consumer
 The ability to add perceived value to goods and
services
 Making the buying process easy and convenient for
consumers
 Creating and maintaining reasonable prices
 Offering a variety of goods and services
 Increasing production
The Marketing Mix:
The Marketing Mix:
Consists of variables
controlled by marketing
professionals in an
effort to satisfy the
target market
The Marketing Mix
Product
Involves the goods, services, or ideas
used to satisfy consumer needs
Price
Determined by what customers are
willing to pay and production costs
Place
Involves the process of making the
product available to the customer
Promotion
Involve how the goods or services
are communicated to the consumer
Target Markets
A target market refers
to people with a defining
set of characteristics
that set them apart as a
group
Target Markets Must Be:
Sizeable:
The overall size of the market
Reachable:
Ability for marketers to reach consumers
Measurable: Ability to measure size, accessibility and
overall purchasing power of the target market
Behavioral: Marketers seek to find similar behaviors
within each respective target market
The Marketing Concept
All organizations must have an
understanding of their target market to
create an effective marketing strategy that
caters to their audience
The Marketing Concept
Part of Coca-Cola’s marketing strategy is to target
moms. As such, the soft drink giant rolled out a
comprehensive marketing campaign tied to the
2012 Olympic Games based on the knowledge that
the Olympics traditionally attract more female
viewers than almost any other sporting event.
Marketing Applications
LESSON 4.3
Niche Marketing
Niche Marketing:
Niche Marketing offers
a unique opportunity
to consumers or one
that has not been
offered in the past
Process of carving out
a relatively tiny part of
a market that has a
very special need not
currently being filled
Niche Marketing
Cable television channels often seek niche
audiences to appeal to specific target
groups with a common set of interests,
such as ESPN designing programming to
appeal to sports fans
Niche Marketing - Discussion
When a business sees a competitor
enjoying success with a particular
niche, often times the market can
become flooded with other companies
exploiting the same niche or another
similar niche.
Can you think of any examples?
Niche Marketing
Lululemon Athletica is a
Canadian retailer that
distributes product in
Canada and the United
States. The company
targets its branded yoga
and fitness apparel to a
niche consumer of
female athletes.
Niche Marketing
Lululemon, positioned as a high-end brand, has
enjoyed explosive growth in the past several years
(in 2012 they were named the 7th most valuable
brand in Canada. On the heels of their success,
Under Armour has introduced a new yoga line, Gap
introduced its GapBodyFit line, Forever 21 began
selling active wear and both Nordstrom and Target
expanded their store branded women’s sportswear
offerings.
Niche Marketing
When Lululemon was forced to recall product in
2013 because they were see through when
stretched, Under Armour (who has been targeting
women as a key demographic for several years),
responded by featuring the tag line "We've Got You
Covered” on its Facebook page in an effort to drive
customers to its site
Niche Marketing
As the running category continues to gain steam (sales
of running shoes were up 14% in the last year), brands
like Vibram and their “five finger shoes”, Fila with
skeletoes, and Adidas with adiPURE (among others)
have carved a niche with “minimalist” running shoes,
designed to create a “barefoot” jogging experience while
still providing protection for the feet
Niche Marketing
Niche Marketing
However, not all niche markets last. For the first quarter
of 2013, sales were of the minimalist shoe were down
10% while motion control shoes were up 25% (another
niche in the running category). Said Matt Powell in an
interview on runnersworld.com, "It appears this fad is
pretty much over."
Market Segmentation the process of
identifying groups of consumers based
on their common needs
Market Segmentation
Helps Companies To:
 Understand consumer groups
 Determine target markets
 Develop positioning strategies
 Customize products and marketing strategies
Five Bases for Market Segmentation
1) Demographic
2) Product
3) Psychographic
4) Benefits
5) Geographic
Five Bases for Market Segmentation
 Age
 Income
 Occupation
 Gender
 Education
Demographic
Segmentation:
Focuses on information
that can be measured
Demographic Segmentation
According to knowledgebase.com, the biggest
demographic for the artist Shakira is 20-year old women
Demographic Segmentation
A survey by CNBC has found that half of all
American households own at least one Apple
device, and the average Apple-buying household
has a total of three
Five Bases for Market Segmentation
 Sports Fans
 Music Lovers
 Individuals who
enjoy attending
live events
Psychographic
Segmentation:
Grouping consumers based
on personality traits and
lifestyle
Five Bases for Market Segmentation
Season ticket holders
enjoy additional “perks”
such as exclusive
invitations to pre-game
chalk talks with the team’s
coaches
Benefits
Segmentation:
Refers to a perceived
value consumers
receive from the
product or service
Five Bases for Market Segmentation
 North, South, East and
West Regions of the
United States
 Urban and Rural areas
of a particular state
Geographic
Segmentation:
Dividing of markets into
physical locations
Important to Sports Marketers Because:
Sports consumers are characteristically loyal to
particular regions when making buying decisions
Selecting multiple segments
Because many segments may be valid in
helping marketers make decisions,
marketers often choose to use several
segments
Ultimately, a decision is made based on
what best fits the organization’s target
market
Positioning
 Fixing company products
in the Minds of Consumers
 All about “perception”
 Relative to competitor
products
Positioning:
The fixing your sports
or entertainment
entity in the minds of
consumers in the
target market
Positioning
Sports drinks (Gatorade as a
performance beverage)
Movie studios (Pixar as a leader in
animated films)
Entertainers (Will Ferrell as a comedic
actor)
Positioning
Wheaties cereal has positioned itself as a brand
affiliated with athletic performance and its
slogan, “the breakfast of champions”, has
remained since the brand’s introduction in 1924
High (variable one)
Product B
Product A
High (variable two)
Low (variable two)
Product D
Product C
Low (variable one)
Positioning Map:
Products or services are
grouped together on a
positioning map
where they are compared
and contrasted in relation
to one another
Ticket Sales
Positioning
Map
High Price
Luxury suite
at an NFL
game
Lower level seats
for Disney on Ice
Client Entertaining
Family Fun
Club seats at
an NBA game
“Cheap Seats” at a minor
league baseball game
Night at the
movies
Low Price
High Price
Courtside
Seats
Lower Level
End Zones
Lower Level Seats
Upper Level Seats
Mid/Upper Level
Sidelines
Top Row Corners
Low Price
Advertising
 TV Commercials and
infomercials
 Print Advertisements
 Direct Mail
 Internet (banner
ads, “pop up”
ads, social media ads)
 Social Media
Advertising:
Any paid, nonpersonal form of
communication by an
identified company
promoting goods and
services.
Why Advertise?
 Effective communication
 Create awareness
 Create / Change image
 Associate a brand with feelings and emotion
 Precipitate behavior
 Establish / Maintain goodwill
 Assist in the increase in sales
Types of Advertising
Print Media:
Any written form of communication used to
inform, persuade, or remind consumers about
products or services offered
Print Media
Types of Advertising
Outdoor Advertising:
 Includes any outdoor
signs and billboards
 Offers a high level
of visibility
 Provides 24-hour
advertising
Outdoor Advertising
Outdoor Advertising
The elevator doors in hotels and business buildings
can even be used for advertising
Outdoor Advertising
Types of Advertising
Mass Transit Advertising:
Uses public transportation, such as buses,
bus stands, taxicabs, and subways to post
advertising messages
Mass Transit Advertising
Hops are a new single A minor league
baseball team from Hillsboro, Oregon a
suburb of Portland.
Types of Advertising
Broadcast Media:
Any visual and/or auditory form of communication
used to inform, persuade, or remind consumers
about goods or services offered
Types of Advertising
Radio Advertising:
Advertisers match their target market to a
radio station that segments a particular
market
* Has the ability to reach a wide audience
Coke Summer Radio Ad
Types of Advertising
Television Advertising:
Includes commercials and infomercials
Is traditionally the most expensive form of
broadcast media
Council Rock High
School South Teachers
and Family star in Dietz
& Watson Commercial
Mrs.
Lynch
English
Mr. Lynch
Health/ P.E.
Types of Advertising
Online/Digital Media:
Advertising through various digital media
platforms
* Banner ads, pop-ups etc.
* Digital broadcasts
* Social media channels
(Facebook, Twitter, etc.)
* Mobile
Types of Advertising
Online/Digital Media
Types of Advertising
“Specialty” Media (or Promotional Products):
Includes “everyday” items displaying a company
name or logo
Examples include lanyards, calendars, pens, magnets,
and coffee mugs
Types of Advertising
Additional Forms of “Creative” Media:
Marketers often use many other creative ways of
communicating advertising messages to consumers
Examples include: blimps (and other forms of aerial
advertising, supermarket carts/bags, hot air balloons,
and in-theater advertisements
Create an Advertisement for HMS
FBLA
 Create an Advertisement for FBLA.
 Use the computer/computer programs to complete the following
 A colorful new logo
 Highlight the 75 year celebration
 Include an original #
 Be Creative!
 Save all work to the S Drive In the FBLA folder
 Winners will get prize at March Meeting + be used to promote
HMS FBLA!