Download Introduction to Marketing

Introduction to
Marketing
What is Marketing?
• “…the activity, set of institutions, and
processes for creating, communicating,
delivering, and exchanging offerings that
have value for customers, clients, partners,
and society at large.”
o American Marketing Association (AMA)
What is Marketing?
• “…the process by which a firm profitably
translates customer needs into revenue.”
o Mark Burgess—Managing Partner, Blue Focus Marketing
• “…how you tell your story to attract
customers, partners, investors, employees
and anyone else your company interacts
with…It’s the way that everyone interacts
with your brand.”
o Jeff Cutler—Executive VP and GM, Vitals.com
Our Definition of
Marketing
• “Marketing is communicating an idea to an
audience.”
• Common Themes
o Providing a compelling reason to buy something
or take action
Our Definition of
Marketing
• “Marketing is communicating an idea to an
audience.”
• Common Themes
o Providing a compelling reason to buy something
or take action
o Getting hooked on a product or a service
o Brand Loyalty
Our Definition of
Marketing
• “Marketing is communicating an idea to an
audience.”
• Common Themes
o Providing a compelling reason to buy something
or take action
o Getting hooked on a product or a service
o Brand Loyalty
o Ethics in Advertising
o Marketing Careers
Marketing Careers
• Advertising, Promotions, & Marketing Manager
o Median Salary: $108,260
• Advertising Sales Representative
o Median Salary: $45,350
• Graphic Designer
o Median Salary: $43,500
• Market Research Analyst
o Median Salary: $60,570
• Meeting, Convention, & Event Planners
o Median Salary: $45,260
General Goals for
Companies
• Create an association and identify with an
image
General Goals for
Companies
• Create an association and identify with an
image
• Want customers to feel special or exclusive
• Consumers buy products and services when
they feel like they’re
getting value
Buying Motives
Emotional Motives
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Power
Love
Peer acceptance
Label recognition
Prestige
Pride
Pleasure
Aesthetic appeal or
beauty
Rational Motives
Saves time
Saves money
Makes life easier
Improves health
Safe or improves
safety
o Durable
o Well-made
o Fulfills a physical
need
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Branding
What’s the Message?
• Branding: burning an image into the
consumer’s mind
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Logos and Images
Slogans
Mascots
Spokespeople—endorsements
Voices
Strategic Partnerships
Use of special guest appearances
Rules for a Successful
Logo
• It is usually:
o Very simple in design (simple drawing or symbol)
o Easy to understand, even at a distance
o One or two colors
o Presented in a simple way and is easy to read
o Unique and recognizable (vs. competition)
o A representation of the company’s personality
and worth
Logos
• What makes a logo easier to remember
than others?
Creative Logos
Slogans or Taglines
• Maybe she’s born with it…
o Maybelline
• You’re in good hands
o Allstate
• Eat fresh
o Subway
• The happiest place in the world
o Disney World
• That was easy
o Staples
Mascots
Spokespeople/
Endorsements
• Why do businesses or organizations enlist
individuals to serve as “official spokesperson”
for them?
• Williams Shatner—priceline.com
• Michael Jordan—Nike, Hanes, Wheaties, etc.
• Ellen DeGeneres—American Express
• Can you name others?
Strategic Partnerships
• Strategic Partnerships: when two separate
companies work together so that both
benefit financially
o Similar target markets
• Examples:
o Apple and Nike
o Pepsi and NFL
o McDonalds and Disney
Special Guest
Appearances
• Who’s seen a famous person (musician,
celebrity, athlete) somewhere and
remember the person and location?
o The location becomes part of the experience
• Who would you suggest for the Grand
Opening of Dicks Sporting Goods and Field
& Stream at Market Place Mall?
Follow a Product
Writing Assignment
• Choose a product that you are a fan of and
write about it each week as it relates to an
aspect of marketing.
• Assignment 1: Branding, Motives
o Choose a product
o Explain the Logo, Slogan (tagline), Mascot for
brand (or product);
o State the Buying Motives/Incentives to purchase
products