Download Marketing and the Marketing Concept

MARKETING
AND THE
Chapter
1 MARKETING
CONCEPT
Marketing Is All Around Us
• Section 1.1 Marketing and the Marketing Concept
• Section 1.2 The Importance of Marketing
• Section 1.3 Fundamentals of Marketing
LESSON 1.1
Marketing and the Marketing
Concept
MARKETING
AND THE
MARKETING CONCEPT
Objectives




Define marketing
Think Like a marketer not a consumer
List the seven functions of marketing
Understand the marketing concept
Marketing Essentials Chapter 1, Section 1.1
MARKET


List as many words as you can think of with the
word “market” in it.
Answers:
What are some words that describe what goes on
at a market?
Answers:
MARKETING?
A market is a place where we buy, sell or exchange
something (for money or no money)
CONSUMER INTERVIEW
From the interview, what are some things your
consumer wants?
Where will they look for these items?
One place or not?
What are five things that your consumer will
consider before they buy the item.
MARKETING?
Role: Now you are a Marketer (you own and sell the
product)? Based on what was important to consumers,
what should you consider in order to sell a product?
Flip your interview sheet over:
1.Write 5 things that would be important as a marketer?
Will these things always be the same for every person?
Will what is important be the same for that same person
forever?
MARKETING?
MARKETING?
So what is Marketing?

Marketing: The process of planning,
pricing, promoting, selling, and distributing
products to satisfy customers’ needs and
wants.

Note: marketing is a process = ongoing and
changes
As a Marketer you need to keep up with:

Trends

Consumer attitudes

Customer relationships
Don’t think like a consumer,
think like the person
selling the products:
The Marketer
Marketing Essentials Chapter 1, Section 1.1
MARKETING
Marketers sell products
 Three types of products can be marketed
 Goods
 Services
 Ideas

Goods : tangible items of monetary value
that satisfy customer needs and wants:
List 3 types of goods in your notes:
Examples of marketed goods X include:
 Home furnishings
 Cars
 Electronics
 Food
Services: Intangible (can’t touch) items of
monetary value that satisfy customer needs &
wants
List 3 types of services in your notes:
Examples of services X that may be
marketed are:
 Automotive repair
 Hair styling
 Legal aid
 Financial consulting
Ideas: an opinion, view, or
belief
List three types of ideas in your
notes:
Examples of ideas that might be
marketed are:
 A candidate’s political
platform
 A public service initiative,
such as don’t text and drive,
don’t smoke or stay in school
What idea is the ad promoting?
This ad promotes the idea of a healthy
diet that includes dairy products


The marketplace is the commercial
environment in which buying and selling (or
exchanges) take place.
What are examples of marketplaces:

Shops (brick & mortar)

Internet stores

Financial institutions
Marketing Essentials Chapter 1, Section 1.1
SEVEN FUNCTIONS OF MARKETING
1. Channel Management/Distribution deciding how to get goods into
customer’s hands
How can you get your goods to
customers?
• Moving - air, trains, trucks, ship
• Storage – Some companies store in local
warehouses
Marketing Essentials Chapter 1, Section 1.1
SEVEN FUNCTIONS
OF
MARKETING
2. Marketing information management
gather, and analyze information on
customers, trends, and competitor
products
• research and survey on customer
habits, attitudes, where live, and
marketplace trends
• This information is then
used in market planning
to target a specific market
continued
SEVEN FUNCTIONS
OF
MARKETING
3. Market Planning
develop and target specific marketing
strategies to a select audience
• Create a plan that targets a specific
market or select audience
SEVEN FUNCTIONS
OF
MARKETING
Can you just create a product, slap any old
price on it, and expect everyone to buy it?
4. Pricing what you charge for goods and
services to make a profit
• initial and sales price decisions
What should drive your decision on what to
charge?
• What competitors are charging
• What are customers willing to pay
SEVEN FUNCTIONS
OF
MARKETING
5. Product/service management
create, maintain, or improving a product or
service that customers want and need
• Create new products or remove old
products from the market
• Upgrade, and improve your existing
products
• Upgrade & improve your processes
Name a product you own that has been updated with new
features that you want/bought the new version?
i.e. cell phones, i-pods, software, etc…
• Do things better, faster, and more efficiently than the
competition!
SEVEN FUNCTIONS
OF
MARKETING
6. Promotion informing, persuading,
and reminding customers about a
product or service through indirect (not
face to face) channels.
Examples:
TV, Radio
Social Media
Pop-up menus ads on apps
Phone calls
Mail and e-mail
SEVEN FUNCTIONS
OF
MARKETING
7. Selling face to face personalized
communication on product features and
benefits to provide customers with
goods and services they want
- sales aids, sales presentations,
demonstrations etc.
Selling can be to consumers and business:
Customer Direct – selling to you the
customers in retail markets (stores & internet)
– sales person
Business to Business – markets of customers
that include Wholesalers, retailers, or
manufactures
FOCUS OF 7 FUNCTIONS:

What has been the main focus of each of
our 7 functions of Marketing?

Customers

What are their wants and needs!!!!
THE MARKETING CONCEPT
Video (play through 1.40) Click video below. If
this does not work, click this link to play video
Marketing Essentials Chapter 1, Section 1.1
What
is the hidden word in the
marketing concept definition?
THE MARKETING CONCEPT
The marketing concept X is the
idea that a business should
provide value different than
competitors to satisfying the needs
and wants of customers at a profit
For a business to be successful,
all employees must:


Understand the marketing concept
Provide the best possible service to
customers
Marketing Essentials Chapter 1, Section 1.1
MARKETING AND THE MARKETING CONCEPT
Study Organizer
What are 3 types of products?
What are 3 things you should keep up with as a
marketer?
What is an Example of Selling
What is an Example of Promotion?
Lesson 1-1 Review
Complete Discovery Project Worksheet
Marketing Madness:
In a short paragraph, define in your own words
what the three functions, pricing, promotion,
and selling are and how they differ. What key
component do they all have in common?