Basic Skills of Marketing ~ Introduction Dutchtown Middle School Ms. T. Lewis Property of Edulution Strategies, LLC

MSMSS6-1: Students will define marketing and show how marketing fits into their daily lives. Property of Edulution Strategies, LLC

MSMSS7-1: Review foundational knowledge of business and marketing concepts and apply the concepts to general business and marketing activities. Property of Edulution Strategies, LLC

 On a clean sheet of notebook paper, please create your unique definition of marketing. ◦ (Remember to use a complete sentence.) ◦ I think Marketing is _____________.  Let’s discuss what you think. Property of Edulution Strategies, LLC

Marketing is the process of developing, promoting, and distributing goods and services to meet customer wants and needs. Property of Edulution Strategies, LLC

Let’s examine the definition and discuss each part. Property of Edulution Strategies, LLC

Let’s define developing. Think of synonyms for develop. Property of Edulution Strategies, LLC

Here are some definitions for developing: 1. bringing out the capabilities or possibilities 2. causing to grow or expand 3. elaborating or expanding in detail Property of Edulution Strategies, LLC

Let’s define promoting. Think of synonyms for promote. Property of Edulution Strategies, LLC

Here is a definition for promote : 1. helping or encouraging to exist or flourish 2. stimulating sales Property of Edulution Strategies, LLC

Let’s define distributing. Think of synonyms for distribute. Property of Edulution Strategies, LLC

Here is a definition for distribute : to promote, sell, and ship or deliver (an item or line of merchandise) to individual customers, especially in a specified region or area. Property of Edulution Strategies, LLC

What is a good? A good is defined as the end result of production and manufacturing. Examples: clothing, automobiles, food, jewelry Property of Edulution Strategies, LLC

What is a service? A service is an economic activity that is offered from one party to another. ** Services are not tangible. (You can’t touch them.) Property of Edulution Strategies, LLC

 NEEDS- Something that is essential; that you must have.  Example: Water  List 5 needs Property of Edulution Strategies, LLC

 WANTS- Something that you desire.  Example: Soda  List 5 wants Property of Edulution Strategies, LLC

 Goods and Services purchased by customers Property of Edulution Strategies, LLC

 Goods are tangible: You can touch them  List 5 goods Property of Edulution Strategies, LLC

 Services are intangible: You cannot touch them!  List 5 services Accounting Services Sports Agent Property of Edulution Strategies, LLC

 Exchange takes place every time something is sold in the marketplace.  Marketing helps connect businesses to their customers.  We experience marketing principles everyday in our lives. Property of Edulution Strategies, LLC

 How do you experience marketing in your life?  What kinds of marketing experiences do you encounter just through your daily routine?  On a piece of paper, write down your daily routine. Use a timeline!  Think about how each activity that you do, relates to marketing:  Needs vs. Wants  Goods vs. Services  Exchanges Turn in Activity for Class Grade Property of Edulution Strategies, LLC

TimeActivityWant v. NeedGood v. ServiceExchange? 6:00 AM Wake-up to alarm clock or phone. Used a good alarm clock that I purchased to wake me up 6:15 AM-6:30 AM Drink juice and listen to the news. Juice is a “want”. I could exist without it, but it wouldn’t be as nice. Used Keurig Single Service coffee maker Purchased juice at the grocery store, so to have each morning Property of Edulution Strategies, LLC

TimeActivityWant v. NeedGood v. ServiceExchange? 6:00 AM Wake-up to alarm clock and cell phone. Used goods. (alarm clock and cell phone) 6:15 AM-6:30 AM Drink fresh squeezed juice and watch the news Juice is a “want”-. I could exist without it, but it wouldn’t be as pleasant. Used juicer.Purchased fruit and the farmers’ market. 6:00 am - Wake up. 6:30 am – Listen to news. Eat breakfast 7:00 am – Leave house for school. 7:45 am – Arrive at school. 8:50 am – Start of classes. 12:15 pm – Eat lunch. 5:00 pm – Leave school. 6:00 pm – Visit parents and grandmother. Eat dinner. 7:30 pm – Arrive home. 10:00 pm – Go to sleep. Property of Edulution Strategies, LLC

 Marketing Functions: All activities that allow companies to bring products to the market for exchange ◦ Product ◦ Price ◦ Place ◦ Promotion Property of Edulution Strategies, LLC