Aim: What is marketing and the marketing concept?

1. Aim: What is marketing and the marketing concept?

2. Aim: - what is marketing and the marketing concept? Q. What did you do to prepare for back to school?

3. Activity 1 • Identify if each picture represents a good, service or idea.

4. 1- Good/service or idea?

5. 2- Good/service or idea?

6. 3- Good/service or idea?

7. 4- Good/service or idea?

8. 5- Good/service or idea?

9. 6- Good/service or idea?

10. 7- Good/service or idea?

11. 8- Good/service or idea?

12. 9- Good/service or idea?

13. 10- Good/service or idea?

14. 11- Good/service or idea?

15. 12- Good/Service or idea?

16. What is marketing • Marketing– is the process of planning, pricing, promoting, selling, and distributing ideas, goods, or services to satisfy customers. • Marketers need to keep up with trends and consumer attitudes • Current marketing practices focus on maintaining close relationship with customers.

17. What is marketing • Goods – are tangible items that have monetary value and satisfy your needs and wants. Ex. Cars, furniture, televisions, clothing • Services - are intangible items that also have monetary value and satisfy need and wants. Ex. Banks, hair salons, movie theaters

18. Seven Functions of Marketing • 1. Distribution – The process of deciding how to get goods in customers’ hands. Physically moving, tracking, and storing goods.

19. Seven Functions of Marketing • 2. Financing – Getting money that is necessary to pay for setting up and running a business. This involves bank loans, stock issuance, extending credit to customers.

20. Seven Functions of Marketing 3. Marketing Information Management – Gathering information on customer trends and competing products, analyzing it and storing it Focus group: https://www.youtube.com/watch?v=j_cUnlQl29Q

21. Seven Functions of Marketing 4. Pricing – Dictates how much to charge to in order to make a profit. Prices are based on costs and competitors pricing. Also must consider what customers are willing to pay.

22. Seven Functions of Marketing 5. Product/Service Management – obtaining, developing, maintaining, and improving a product in response to marketing opportunities. i.e. marketing research T E S L A

23. Seven Functions of Marketing 6. Promotion – is the effort to inform, persuade, or remind potential customers about a business’s product or service.

24. Seven Functions of Marketing 7. Selling – provides the customers with the goods and services they want. This includes selling in the retail market or B2B (business to business)

25. The Marketing Concept • The Marketing Concept – is the idea that a business should strive to satisfy customers’ needs and wants while generating a profit for the firm.

26. Did you know? • Research conducted by Google and CEB indicates: • Customers that are emotionally connected to a brand are twice as likely to purchase a product or service, and are four-times as likely to defend their purchase decisions.  • Can you think of brands customers feel this way about?

27. Customer relations management • (CRM) • Combines customer information (through database technology) with customer service and marketing communications to retain and satisfy customers • What is an experience you have had with CRM?

29. Today’s Activity Work with a partner: • Complete the Marketing Function Application Worksheet

30. Do Now: What have we learned? • Name two ideas that can be marketed. • What is the difference between a good and a service?

31. Promotion Activity • Directions- work with a partner for activity #2. • You will be given three scenarios that focus on companies that need to promote goods, services or ideas. • Your group will create a promotion for each scenario and answer the questions below. • Share your ideas!