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Marketing Essentials
Marketing Is All Around Us
What Is Marketing?
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Think of a product or service that
appeals to you. List as many reasons
why you like it. How does the
manufacturer or service provider know
the product or service would appeal to
you?
Think of a product or service that no
longer appeals to you. List as many
reasons why you’ve stopped
consuming it. How can the
manufacturer or service provider regain
your loyalty?
Marketing
Marketing is a process of
identifying& satisfying the NEEDS of
consumers.
What Is Marketing?
Marketing is the process of :
1.Developing – coming up with the ideas of what to sell.
2.Promoting - getting the word out about what you sell
3.Pricing – Deciding how much to charge
4.Selling – Convincing people to buy
5.Distributing – getting what you sell to the people who
need and want them
*Do the five things above to satisfy customer’s wants and
needs.
Wants vs. Needs
Maslow’s Hierarchy of Needs
The process by which companies
create value for customers and build
strong customer relationships in
order to capture value from
customers in return.
Maslow Activity
Choose a product (any product).
Design/sketch an ad that reaches one of
Maslow’s Hierarchy of Needs.
Customers vs. Consumers
Customers buy a product.
• Sometimes for themselves
• Sometimes for others
Consumers use the product.
 Example: Parents who buy
cereal or video games
from retailers are customers.
The kids who
play the video games or eat the
cereal are the consumers.
Name 6 stores in our local area:
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Do you know if these stores would be
considered goods producing businesses or
service producing businesses?
Lets look at the next slide before we
decide…………
Satisfying Wants and Needs with products.
Products = Goods and Services
Goods: A tangible item you can carry
away with you. Examples: Hammers,
automobiles, soda pop, clothing, and
computers
Services: An activity you pay someone
else to do for you. Examples: Dry
cleaners, amusement parks, attorneys,
and movie theaters
Exchange: Buying or selling a good or
service
Now see if you can correctly label
your local businesses.
The Marketing Concept
This is an idea or belief system that is very
important if your business is going to be
successful.
The marketing concept states that in order to
be successful, businesses must focus all
their efforts on:
1. Satisfying customers' needs and wants
2. They must do this better than the
competition in order to make a profit.
Marketing brings about 2 benefits
to us as customers/consumers…..
Can you guess the first one?
**view Bill
Cosby
Commercial
•What do you
think Competitors
(Pepsi) did in
response to this
ad?
•How could they
still get people to
buy Pepsi?
The Benefits of Marketing
1.New and improved products
Businesses create new products and improve
existing products to maintain their current
customers or attract new ones.
The Benefits of Marketing
Can you guess the second one?
Lower
Lower
Lower
Lower
Prices
The Benefits of Marketing
2. - Lower prices

Lower prices benefit customers while
businesses benefit by selling more product
at the lower price.
SWOT analysis
1. SWOT analysis: The acronym for Strengths, Weaknesses,
Opportunities, and Threats. A SWOT analysis reviews the potential
for success or failure of a business or product.
2. Strengths and weaknesses are Internal - Businesses must
continually review internal strengths and weaknesses. For example,
McDonalds introduced the fruit cup as an alternative to fries. After one
month of its introduction, McDonalds evaluated the strengths and
weaknesses of the product.
3. Opportunities and threats are External factors that will also affect
operating the business. For example, staying informed of what current
products are offered by competitors. For example, when Coke
introduced its new product Vault, Pepsi suffered a decrease in sales for
its existing product Mountain Dew
SWOT video
S.W.O.T
Strengths:
Opportunities
 Advantages the business
 Potential for growth
already has going for them.
 Potential to reach New Markets
 Resources they already
 Potential to change negative image
have.
 New trends or “fads” that would be to
 Brand awareness that
their advantage.
already exists.
 Positive economic situations
 Money they have to work with
 External things going on that are
 Internal things which they
working for the business, but which
have some control over that
they have very little control over.
are already in their favor.
Threats
Weaknesses:
 Poor economic situations
 Things the store already has
 Competitors coming up with similar
going against them.
products or currently having similar
 Additional costs to the
products
business
 Possibly Negative response from public
 Pre existing negative
 Environmental obstacles
perceptions of the business.
 Political obstacles
 Internal things which they
have some control over.
 External things going on that are
working against the business, but
which they have very little control over.
SWOT
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The most important aspect of the SWOT
analysis is to make even the weaknesses and
threats sound like positives.
Team SWOT
2nd activity