3.1 - MARKETING Lesson 1 – Marketing and Market Research

Starter Activity Complete the starter word search.

Learning Outcomes – Today and Tomorrow AllMostSome Understand the meaning of the terms ‘market’ and ‘marketing’ Understand the difference between ‘product orientation’ and ‘market orientation’ Classify products as being either market orientated or product orientated Appreciate that marketing is about understanding customer wants and needs and not just selling products Explain the four elements of the marketing mix and how they combine Understand and be able to use the ‘it depends on’ rule for a marketing related question.

What is a ‘Market’? A market is a place where buyers and sellers come together to exchange goods and services for money This means that it is necessary for the sellers to have something which the buyers are prepared to buy…

What is a ‘Market’? There are many different types of market. For example: A town market Any kind of shop is a market Phone, internet and catalogues World commodity markets i.e. oil, gold, diamonds, food, etc

What is ‘Marketing’? There is no point having goods for sale if they are not wanted by the customers or the customers do not even know they exist Marketing means finding out what customers need and want, providing it at the right price, making sure the public is aware of it and where they can buy it The four Ps of Marketing are: – Product – Price – Promotion – Place

Market or Product Orientation? A business must decide whether to concentrate upon: Providing products that customers want i.e. mobile phones now have cameras because customers indicated that they wanted them Providing products because they know how to produce them i.e. Dyson produced their product because they knew how to make bag- less vacuum cleaners, rather than because consumers had said they wanted one

Market or Product Orientation? A business must decide whether to concentrate upon: Market orientation - using market research to find out what customers really want and then producing a product to suit the customers Product orientation - there are some products (i.e. hi-tech goods) where it is important to produce a product and then persuade customers to buy it - they may not realise that they need it!

Group Activity In your groups choose one product that already exists. This can be anything at all. Using the pens and the paper create a presentation that explains: Briefly what the product is… Who the product is targeted at… Is the business market oriented or product oriented? How does the product meets the needs of it’s target market? Does the business knows the needs of it’s target market, if so how? If relevant how did the business persuade it’s target market that it needs this product? A grade: Only use business terminology! Be prepared to justify what you have written What might what you have written depend upon?

Activity Complete the market or product orientation exercise on the lesson worksheet. You may work in pairs if struggling.

What is the Marketing Mix? Probably the most famous phrase in marketing! It consists of at least four marketing tactics, usually known as ‘the 4 Ps’

What is the Marketing Mix? It describes all the activities that go together to make a customer decide to buy a product The business should ensure that the product is the right one, the price matches the product, the promotion tells the customer about the product and the product is on sale in the right place at the right time

What is the Marketing Mix? If a business gets all these factors correct, they should be successful in selling their products TARGET MARKET

Example of a Marketing Mix Camelot had to design a game that was: Easy to play Going to encourage lots of people to play, since this would affect the jackpot size Camelot had to design a game that was: Easy to play Going to encourage lots of people to play, since this would affect the jackpot size Because the government wanted the game to appeal to everyone, the price had to be set low (£1.00) When the game was launched in Nov ,000 retailers were selling tickets By March 2002 this figure was 24,250 – due to the increased capability of the computer system When the game was launched in Nov ,000 retailers were selling tickets By March 2002 this figure was 24,250 – due to the increased capability of the computer system £39 million was spent launching the ‘Largest new brand ever’

What is the Marketing Mix? It is important to point out that every marketing mix is different, depending upon the product or service being offered Imagine the marketing mix as an artist’s palette – the marketer mixes the prime colours (product, price, place and promotion) in different quantities to deliver a particular final colour

Activity Complete the marketing mix activities on the lesson worksheet.

1.Five new things that you have learnt this lesson 2.Think time – 1 minute 3.Who goes first - wait for start 4.In pairs, Partner A shares, Partner B listens 5.Time up 6.Partner B responds by summing up what Partner A has said 7.Partners switch roles – wait for start Take timed turns listening, sharing and responding Think, Pair Share

Homework Complete the Types of Purchases homework sheet.

Learning Outcomes E GradeC GradeA/A* Grade Understand the meaning of the terms ‘market’ and ‘marketing’ Understand the difference between ‘product orientation’ and ‘market orientation’ Classify products as being either market orientated or product orientated Appreciate that marketing is about understanding customer wants and needs and not just selling products Explain the four elements of the marketing mix and how they combine