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1.00 Vocab

1.00 Vocab. www.textbookwizards.com/mktgvocab1.doc Practice Questions you guys made www.textbookwizards.com/1.00.ppt. 4 Brand Symbols

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1.00 Vocab

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  1. 1.00 Vocab • www.textbookwizards.com/mktgvocab1.doc • Practice Questions you guys made • www.textbookwizards.com/1.00.ppt

  2. 4 Brand Symbols Get out a piece of paper and separate the page into 4 boxes. Use only your memory (No internet). In each box, please draw the brand symbol for 4 of the following companies (your choice). Extra Credit for ones on the back of the page: Adidas Toyota Twitter New York Yankees Apple Pepsi Reebok Starbucks Nike Dallas Cowboys McDonalds General Electric Facebook Red Cross Mercedes-Benz BMW

  3. Mountain Dew Matrix Assignment • “Cheetah Mountain Dew” • “Mock Opera Mountain Dew” • “Showstopper Mountain Dew” • www.textbookwizards.com/hbs.doc • Print out the file and complete it for the “Mountain Dew Matrix” Assignment

  4. Super Bowl Commercials • Research online and find 5 companies who advertised during this year’s SuperBowl? • Give a brief description, using a few sentences, of each company’s product. • Give a brief description of the commercial they aired. Was it effective? • Include you findings in a word document. Print and hole-punch for your notebook!

  5. The four P’s of Marketing Marketing-Mix

  6. The Four P’s • Product • Promotion • Placement • Price

  7. Product • What is the product? • What problem does the product solve? • Why should people want to spend their hard earned dollars on it?

  8. Promotion • What medium should be used to market this product? • Is the most effective medium cost effective? • Will that medium and message target the right audience?

  9. Placement • Where should we sell our product? • Retail Stores? • Catalogs? • Online? • Where does our target audience shop?

  10. Price • How much would people willing to pay for our product? • If it is a ground breaking product, or one of a kind, then you can charge a premium. • If there are substitutes for the product then you have to price very carefully. • If you price too high, people won’t buy your product. • If you price too low, you will lose your margin, and people will think your product is cheap.

  11. Stock Price Activity Go to Yahoofinance.com Search for a company You get $10,000 to buy a stock with On a piece of paper, write down the date, stock ticker symbol, the stock price, and the number of shares you can buy # of shares = 10,000/Stock Price

  12. Advertisement Project • Search for a short commercial video online at Bestads.tv (must be appropriate) • What is the Product, Place, Promotion, and Price (Marketing Mix)? • Research the company’s advertising campaign that this ad is a part of and answer these questions in detail. • Is this commercial in line with that campaign? • Does it target the correct audience (The people most likely to buy their product)? • Is the story complex or easy to follow? • Is the product the star of the ad? • Overall do you believe that this commercial will be successful for the company? • Create a Short PowerPoint with the Marketing Mix and the answers to your questions, include the link to the commercial so we can watch it together in class during your presentation.

  13. Make a list of all of the goods and services that you have used in the past 24 hours, and respond to the following questions: • How did you come to use these goods/services? • How did you find out about these goods/services? • Where did you obtain these goods/services? • How much did these goods/services cost?

  14. Mass Marketing vs. Segments • What is the difference? • When is each used?

  15. Mass Marketing • An attempt to appeal to an entire market with one basic marketing strategy. • Advertisements during Nation-wide Televised events.

  16. Market Segments • Splitting the marketing in order to target the specific audience which is most likely to buy the product

  17. Types of Market Segmentation • Demographic segmentation – based on age, race, sex, education-level, etc. • Geographic segmentation – based on the location. Some items sell better in certain areas. • Psychographic segmentation – based on personality, values, attitudes, interests, or lifestyles • Behavioral segmentation – based on patterns of behavior.

  18. Segments Activity • A new skin cream has been developed by Neutrogena which is supposed to be revolutionary. How would you promote the new cream to each of the following groups? How would you sell it to them, or convince them to buy it? • Female Athletes • Physicians • Men Over 40 • Teenage Girls • Women in other global regions

  19. Taste Test BEFORE THE TASTE TEST!!!! Write which of these three drinks is your favorite on your paper. • Coke • Pepsi • Generic Brand Cola Also write which is your favorite brand of chocolate chip cookie. • Chips A Hoy • Keebler • Generic

  20. TASTE TEST CONTINUED • No talking during the exercise!!! • I will bring out a small cup with a little taste of each kind. Each drink will be A,B, or C. • Please rank solely on taste. Do not look at other people’s reactions. • I want you to pick which Drink and Cookie you like best. A, B, or C • At the bottom you can try and guess what A,B, and C are for a bonus $100 in business bucks

  21. Taste Test/Marketing Research • How could a product like Coca Cola, Pepsi, or Generic Brand Cola use this sort of demonstration to promote it’s product? • Describe 3 products or services which could benefit from samples, demonstration, or surveys as Marketing Tools. • Share Examples with class!

  22. Marketing Concept in 2 minutes

  23. Marketing Concept • The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition. Wednesday

  24. Elements of the Marketing Concept • Customer Orientation: Do it their way • Company commitment: Do it better • Company goals: Do it with success in mind.

  25. How Marketing Benefits our Society • Makes our lives better • Promotes using the earth’s resources more wisely • Encourages trade between nations

  26. Marketing Reports • Request/complaint reports • Lost sales reports • Activity reports • Quarterly Inventory Status – How much of an item has been sold • Market demographics analysis • Accounts-payable summary • Annual income statement

  27. Marketing Reports • Request/complaint reports • Lost sales reports • Activity reports • Quarterly Inventory Status – How much of an item has been sold • Market demographics analysis • Accounts-payable summary • Annual income statement • Search for the definition of the 1 report, statement, or summary that I assign you. Find the definition, write it down next to the report’s name, and then wait to share.

  28. Marketing Reports • Request/complaint reports • Lost sales reports • Activity reports • Quarterly Inventory Status – How much of an item has been sold • Market demographics analysis • Accounts-payable summary • Annual income statement • Find a person to teach you about each of the other reports. • Write down the definition for 1-7 • At the end of the assignment, I will randomly select 7 students to share the definition for each report. • The entire class will receive the same grade.

  29. BMW – The Hire • The BMW film series, The Hire was a series of eight short films (averaging about ten minutes each) produced for the Internet in 2001 and 2002. • A form of branded content, all eight films featured popular filmmakers from across the globe, starred Clive Owen as the "Driver", and highlighted the performance aspects of various BMW automobiles.

  30. Why is Marketing Information Needed? • Q:Why is Marketing Information Needed? • A:To identify potential customers, potential products, marketing opportunities, solve marketing problems, implement marketing plans, and monitor marketing performance. Monday

  31. The Impact of Marketing Information • Marketing research is used when a business needs to solve problems. • Helps answer questions about the four P’s (Marketing Mix) • Plan for future • Understand markets.

  32. BMW – The Hire • The BMW film series, The Hire was a series of eight short films (averaging about ten minutes each) produced for the Internet in 2001 and 2002. • A form of branded content, all eight films featured popular filmmakers from across the globe, starred Clive Owen as the "Driver", and highlighted the performance aspects of various BMW automobiles.

  33. BMW – The Hire • BMW did market research and found that the average age of a BMW owner was about 46 and that 2/3 of them were men. • The also found that 85% of the people who bought their cars researched them online before buying • Questions to answer? • How did this information help BMW create such an effective device to promote their product.? • Why was it so successful? • What would you do next if you were calling the shots and Why? • Possible choices for BMW: • Produce a third season • Switch to a full length feature • Release the videos on Youtube.com • Go back to traditional advertising • Look for a completely new direction

  34. Search on Gaggle Tube to Watch • Season 1 Ambush Chosen The Follow (Artistic) Star (Funny) Powder Keg • Season 2 • Hostage • Ticker (Action) • Beat The Devil

  35. BMW – The Hire • BMW did market research and found that the average age of a BMW owner was about 46 and that 2/3 of them were men. • The also found that 85% of the people who bought their cars researched them online before buying • Questions to answer? • How did this information help BMW create such an effective device to promote their product.? • Why was it so successful? • What would you do next if you were calling the shots and Why? • Possible choices for BMW: • Produce a third season • Switch to a full length feature • Release the videos on Youtube.com • Go back to traditional advertising • Look for a completely new direction • Season 1 Ambush Chosen The Follow (Artistic) Star (Funny) Powder Keg • Season 2 • Hostage • Ticker (Action) • Beat The Devil

  36. Sales • Selling the product • Pricing • Where to sell it? Retailing • Figuring out how the product should be placed and marketed in retail settings Service Marketing • How the service or product fits into the customer’s life Customer Service • Managing customer problems related the product Public Relations • Communication with the public • Communication with other companies

  37. Marketing Research Advertising • Researching how populations, markets, or audiences will react to product/service, or brand • Designing and creating commercials, campaigns, print media, and any other type of promotion Product/Service Management • Designing features for a product or service to encourage people to buy it Production/Warehousing/Distribution • Make the Product • Store the Product • Getting the product to the customers

  38. Marketing Career Areas • Marketing Research • Advertising • Product Management • Production/Warehousing/Distribution • Sales • Retailing • Service Marketing • Customer service • Public Relations Tuesday

  39. Career Area Project First, Give us brief overview of what your Career Area is all about! Then look for the information below for that Career Area. You can pick any job/occupation in that Career Area. • Marketing Research • Advertising • Product Management • Production/Warehousing/Distribution • Sales • Retailing • Service Marketing • Customer service • Public Relations A.Occupation-Job Title B.Duties and Responsibilities C.Educational requirements D.Employment outlook E.Salary Range F.Schools offering training G.Lifestyle associated with it H.Personal Traits needed I.Work Environment J.Pictures of people in position

  40. Marketing Careers Quiz • Take out a piece of paper • Write you lunch number at the top • Do not put your name on this • Number your paper 1-10 • I’m giving you 5 minutes to create a cheat sheet on the back of your quiz. When time expires the only thing on you desk should be your paper and writing utensil.

  41. 1. Designing features for a product or service to encourage people to buy it • Marketing Research • Advertising • Product/Service Management • Production/Warehousing/Distribution

  42. 2. Designing and creating commercials, campaigns, print media, and any other type of promotion • Marketing Research • Advertising • Product/Service Management • Production/Warehousing/Distribution

  43. 3. Relates to:Making and storing the product • Marketing Research • Advertising • Product/Service Management • Production/Warehousing/Distribution

  44. 4. Relates to:Getting the product to the customer • Marketing Research • Advertising • Product/Service Management • Production/Warehousing/Distribution

  45. 5. Researching how populations, markets, or audiences will react to product/service, or brand • Marketing Research • Advertising • Product/Service Management • Production/Warehousing/Distribution

  46. 6. How the service or product fits into the customer’s life (Ex. Hotel Concierge) • Sales • Retailing • Service Marketing • Customer service • Public Relations

  47. 7. Figuring out how the product should be placed and marketed in retail settings • Sales • Retailing • Service Marketing • Customer service • Public Relations

  48. 8. Managing customer problems related the product (Ex. Handling Complaints • Sales • Retailing • Service Marketing • Customer service • Public Relations

  49. 9. Communication with other companies and the public • Sales • Retailing • Service Marketing • Customer service • Public Relations

  50. 10. Relates best to the process of actually selling the product • Sales • Retailing • Service Marketing • Customer service • Public Relations

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