2015/2016

 What is Marketing????  Define in your own words (first)  Gallery Walk around the classroom AMA Defines Marketing: Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (Approved July 2013)

The word Market is derived from Latin word Mercaris which means “to trade”. In the 12 th century Europe, market came to mean the meeting of buyers and sellers of livestock or other goods……..Today a market is anywhere a buyer and seller convene to buy and sell goods…..

 Marketing: consists of dynamic activities that identify, anticipate, and satisfy customer demand while making a profit. Quotes: The job of marketing is “ to sell lots of stuff and make lots of money” Sergio Zyman former chief marketing officer at Coca Cola Marketing is “ the whole firm, taken from the customer’s point of view” Peter Drucker, business management consulting. The purpose of marketing” to reach customers and compel them to purchase, use, and repurchase your product” Alexander Hiam, marketing consultant.  The Function of Marketing/Goal : Is to meet the customer needs and wants with products that customers can and will buy.

Is It Marketing? Worksheet……

 Marketing helps Businesses Grow and Increase Profit.  Marketing Creates Jobs and Improves Community Standing  Marketing Builds Relationships

 It will make you a better consumer.  Marketing will make you a better employee  Will help you market yourself: job hunting, applying for college, being a volunteer, etc.  Marketing is Global….. No matter where you go or what you do, marketing will impact the decisions you make about what to buy, where to travel on vacation, and even what you eat for lunch today.

 SWBAT – Explain why marketing is dynamic, state how marketing is focused, and identify and describe the four P’s of marketing  Warm –up: Define the term dynamic  Read and Summarize article “Under Armour enjoys making Nike pay through the nose for Kevin Durant”

 What makes marketing dynamic? The word dynamic describes something that is constantly changing. The needs and wants of customers are constantly changing. The goal of marketing is to meet customers’ needs and wants with products they will buy.

 Marketing is focused on the customer.  Customer vs. Consumer  Target Market  Vocabulary Terms

 SWBAT- Explain the marketing concept and its historical development, and identify and describe the 4(P’s of Marketing) and the Marketing Mix.  Warm-Up – Review Questions  Production Philosophy  Worksheet Packet: Marketing is Dynamic (Crossword, Marketing Review, What Changed)  Finish Video – “Cola Wars”  Unit 1 Marketing Test – end of September 2015

 Why is marketing dynamic?  Why is marketing important?  What is the difference between a customer and a consumer?  What is the goal of marketing?

 Product – is anything that can be bought or sold.  Good – A tangible item (I-Phone, I-Pod)  Service- is an action done for you (Haircut, Concert, Movie)  Idea- is a concept (Click it or Ticket)

 Price - is the amount of money requested or exchanged for a product.  Place – refers to the activities involved in getting a product or service to the end user. * Product Placement  Transformers Transformers  Promotion – is the process of communicating with potential customers in an effort to influence their buying behavior. Lay’s ContestLay’s Contest

 The strategy for using the elements of product, price, place and promotion. It consists of the decisions made about each of the four Ps for that product.  One marketing mix does not meet the needs of all customers. The key to finding a successful marketing mix is  Choosing the right product.  Selling it at the right price.  Making it available at the right place.  Promoting it in a way that will reach the target customer.

 Is the idea that a business should strive to satisfy customers’ needs and wants while generating a profit for the firm.  Customer focused

 the Industrial Revolution, when major manufacturing centers and distribution networks were established, the production philosophy focused on making and distributing products in sufficient quantities to meet demand.  The prevailing philosophy, “a good product will sell itself,” emphasis on production rather than sales.

 The production philosophy was replaced by the sales philosophy in the early 1900’s, over production left manufacturers with large surpluses in product.  “Sales Philosophy” – Sale the sizzle not the bacon.

 Marketing - Consists of dynamic activities that focus on the customer to generate a profitable exchange.  Business – is the term for all of the activities involved in developing and exchanging products and services.  Function – is a general word for a category of activities.  Functions of Business – are production, finance, marketing, and management.  Customer – is and individual or group who buys products.  Consumer – is and individual or group who uses the products.  Need – is something necessary for survival, such as food, clothing, and shelter. A need can be defined as something needed to function in society.  Want – is something that a person desires, but could live without, such as a new cell phone or a vacation.  Target Market – is the specific group of customers whose (needs) a company will focus on satisfying.  Four (P’s) - Product, Price, Place, and Promotion  Product - is anything that can be bought or sold. (Goods, Services, and Ideas)  Good – Is a physical item something that you can touch. (Tangible)  Service – is an action that is done for you. You cannot touch a service or take it with you. (Intangible)  Idea – is a concept, cause, issue, image or philosophy that can be marketed. Examples : Click it or Ticket, Vote For__________.  Place – Involves making products available to customers. This includes determining when, where, and how the product will get to the customer. Where to locate stores, and placement of products in the store?  Price – The amount of money requested or exchanged for a product. High vs. Low  Promotion – Is the process of telling people about the product and the company that offers it.  Marketing Mix - Is a plan of action for marketing a product; it consists of the decisions made about each of the four P’s for that product.  Distribution - Is the process of physically delivering goods to customers.