1 / 28

Celebrity Marketing Ideas and The Marketing Concept

Explore how celebrities market themselves and the concept of marketing, including customer vs. consumer, market segmentation, and the marketing mix.

chisolm
Download Presentation

Celebrity Marketing Ideas and The Marketing Concept

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Bellwork • Kid Rock just announced his “$20 ticket shows” for 6 concerts this summer. He’s obviously not making a ton of $ off of this tour, so what do you think his (and his managers) marketing idea is behind this? • Give me one other example of how celebrities “market” themselves. Did you know? Jay-Z and Kanye make approximately $1.5 million PER show!

  2. Marketing Essentials Chaper 2: The Marketing Concept

  3. SECTION 2.1 The Marketing Concept What You'll Learn • The marketing concept • The difference between customers and consumers • What a market is and how it can be described • The four Ps of the marketing mix

  4. The Marketing Concept The Basic Concept The marketing concept states that businesses must satisfy customers' needs and wants in order to make a profit.

  5. Customers vs. Consumers • Customers buy a product. • Consumers use the product. • Example: Parents who buy video games from retailers are customers. The kids who play the video games are the consumers. • Example: Baby formula: Consumer? Customer?

  6. What is a Market? A market is all potential customers who share common needs and wants and who have the ability and willingness to buy the product. Could be the: Young, old, male, female, poor, rich, jock, etc…….. A combination or just one.

  7. The Marketing Mix The marketing mix comprises four basic marketing strategies known as the four Ps: • Product • Place • Price • Promotion Slide 1 of 3

  8. The Marketing Mix Product strategies include what product to make, how to package it, what brand name to use, and what image to project. Place strategies deal with how and where a product will be distributed. Price strategies should reflect what customers are willing and able to pay. Promotion strategies deal with how potential customers will be told about the new product, what the message will be, when and where it will be delivered, and with what inducements to buy. Slide 2 of 3

  9. The Marketing Mix • Product, Place, Price, Promotion Let’s think of some products/services that are trending NOW… What would be the marketing mix for…

  10. SECTION 2.1 The Marketing Concept Target Marketing Target marketing is focusing all marketing mix decisions on the specific group of people you want to reach.

  11. Thinking Critically Many women's magazines like Glamour and Elle publish advertisement for men's cologne. Explain the rationale for this practice.

  12. ASSESSMENT 2.1 Reviewing Key Terms and Concepts • 1. What does the marketing concept state? • 2. Who are the customers of Sony Electronics and Hershey Chocolates? Who are their consumers? • 3. What is a market? • 4. What is target marketing? • 5. What are the four Ps of the marketing mix?

  13. Market Segmentation Dividing the total market into smaller groups of people who share specific needs and characteristics is the essence of market segmentation.

  14. Market Segmentation Analyzing Markets Businesses may segment a market by: • demographics • psychographics • geographics • product benefits

  15. Demographics Demographics refers to statistics that describe a population in terms of personal characteristics. These include: • age • gender • income • ethnic background

  16. Demographics: Age When marketers study age, they classify everyone according to certain generations, because each generation tends to have shared experiences and common bonds. See chart in your notes! You will be using these throughout the semester. What will the next generation be called? Here are some experts thoughts: Digital Natives, Generation Like and the Selfie Generation

  17. Demographics: Gender • Companies can expand their markets by marketing to the other gender, or by marketing their products differently to men and women. • Example: Jockey entered the women’s market with Jockey underwear for women and doubled its sales.

  18. Demographics: Income Marketers want to know how much money is available for spending on different products. They look at two types of income measurement: • disposable income • discretionary income Slide 1 of 2

  19. Demographics: Income • Disposable Income = money left over after taxes. • Important for companies that produce and distribute necessities • Discretionary Income = money left after paying for food, shelter, and clothing. • Important for companies that produce and distribute luxury items Slide 2 of 2

  20. Demographics: Ethnicity Marketers often segment the market by ethnicity. The three largest ethnic groups within the United States are African-Americans, Hispanics, and Asian-Americans. These three groups will account for 33 percent of the U.S. population in 2005.

  21. Census 2000 The United States conducts a census every ten years to determine the characteristics of the population. Which ethnic group is declining? Which ethnic groups are increasing? What effects will these ethnic changes have on marketing in the United States?

  22. Psychographics Psychographics involves studies of consumers based on social and psychological characteristics. In addition to segmenting people by their leisure time interests, marketers observe trends and changes in households, the economy, politics, and the workplace.

  23. Geographics Geographics refers to segmentation of the market based on where people live. Marketers study geographics in relation to: • ethnic concentrations • age • ethnic background • income

  24. Product Benefits Segmenting a market by product benefits involves studying consumers' needs and wants. • Example: Different shampoos are marketed to people with different hair care needs.

  25. Thinking critically How can Procter and Gamble market household products to a male market segment? What problems might P&G encounter in that endeavor?

  26. Top 10 Trending Products of 2015 • What would be the market for these products that are trending? • Here's the link of the top 10 trending in 2015

  27. ASSESSMENT 2.2 Reviewing Key Terms and Concepts • 1. What do demographics, psychographics, geographics, and product benefits have in common? • 2. How can a market be segmented using demographics? • 3. What does the study of psychographics involve? Slide 1 of 2

  28. ASSESSMENT 2.2 Reviewing Key Terms and Concepts • 4. Provide one example of how a marketer can segment a market based on product benefits. • 5. Of what significance are the combined African-American, Hispanic, and Asian-American populations to marketers? Slide 2 of 2

More Related