Download Marketing Intro

Marketing
Defining and Utilizing
What Marketing is and What it is
Not
 What do you think when you here the term
“marketing”?
 Most people equate it to advertising
 But it is more than just that.

Advertising is part of marketing, but not
everything.

Usually the most visible part of marketing
Definition
 Marketing: the action or business of
promoting and selling products or
services, including market research and
advertising.
Requirements for Marketing to
Occur
1.
Two or more parties with unsatisfied needs.
You are interested in computers
A local store sells science / technology magazines
2.
Desire and ability to satisfy these needs
You are willing to buy the magazine
The store wants to sell them
3.
A way for the parties to communicate
Until the potential buyers knows of the magazines, nobody’s
satisfied
These can be achieved through things like flyers, mail outs or free
samples
4.
Something to exchange
By going to the store you will exchange $ for the
magazine
What is a Market
 A Market is people with a desire and
ability to buy a specific product.
 Who is a Market: Simply…everyone! From
major companies to the smallest ventures.
The scale depends on the funds put into it.
 What is Marketed: Everything. Goods,
services….
Social Marketing
 This is an increasingly influential form of
marketing.
 It focuses on influencing the behaviour of
individuals for the benefit of society as a
whole, not the marketer.

Ie. Anti smoking ads created by Health
Canada
Types of Consumers
 There are two forms of consumers

Ultimate Consumers: People who purchase
and consume goods

Organisational Buyers: are groups and
organisations that purchase goods and
services for their own use or for resale.
Needs and Wants
 Every year approximately 25,000 new product
are sold every year.


Of this number c. 80% fail in the long run
Why?

Experts say it has to do with misplaced understandings
of needs and wants.
 Need: goods / services that fulfil a
psychological need or basic needs (hunger,
shelter)
 Want: are needs shaped by your knowledge,
personality and culture.
Good / Bad / or Just Ugly
 The issue of needs and wants and marketing
leads to charges of maliciousness.

The apple is better for you, but marketers want
you to buy the candy bar.