Introduction to Marketing

What is Marketing? “…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.” o American Marketing Association (AMA)

What is Marketing? “…the process by which a firm profitably translates customer needs into revenue.” o Mark Burgess—Managing Partner, Blue Focus Marketing “…how you tell your story to attract customers, partners, investors, employees and anyone else your company interacts with…It’s the way that everyone interacts with your brand.” o Jeff Cutler—Executive VP and GM, Vitals.com

Our Definition of Marketing “Marketing is communicating an idea to an audience.” Common Themes o Providing a compelling reason to buy something or take action

Our Definition of Marketing “Marketing is communicating an idea to an audience.” Common Themes o Providing a compelling reason to buy something or take action o Getting hooked on a product or a service o Brand Loyalty

Our Definition of Marketing “Marketing is communicating an idea to an audience.” Common Themes o Providing a compelling reason to buy something or take action o Getting hooked on a product or a service o Brand Loyalty o Ethics in Advertising o Marketing Careers

Marketing Careers Advertising, Promotions, & Marketing Manager o Median Salary: $108,260 Advertising Sales Representative o Median Salary: $45,350 Graphic Designer o Median Salary: $43,500 Market Research Analyst o Median Salary: $60,570 Meeting, Convention, & Event Planners o Median Salary: $45,260

General Goals for Companies Create an association and identify with an image

General Goals for Companies Create an association and identify with an image Want customers to feel special or exclusive Consumers buy products and services when they feel like they’re getting value

Buying Motives Emotional MotivesRational Motives o Power o Love o Peer acceptance o Label recognition o Prestige o Pride o Pleasure o Aesthetic appeal or beauty o Saves time o Saves money o Makes life easier o Improves health o Safe or improves safety o Durable o Well-made o Fulfills a physical need

Branding What’s the Message? Branding : burning an image into the consumer’s mind o Logos and Images o Slogans o Mascots o Spokespeople—endorsements o Voices o Strategic Partnerships o Use of special guest appearances

Rules for a Successful Logo It is usually: o Very simple in design (simple drawing or symbol) o Easy to understand, even at a distance o One or two colors o Presented in a simple way and is easy to read o Unique and recognizable (vs. competition) o A representation of the company’s personality and worth

Logos What makes a logo easier to remember than others? Creative Logos

Slogans or Taglines Maybe she’s born with it… o Maybelline You’re in good hands o Allstate Eat fresh o Subway The happiest place in the world o Disney World That was easy o Staples

Mascots

Spokespeople/ Endorsements Why do businesses or organizations enlist individuals to serve as “official spokesperson” for them? Williams Shatner—priceline.com Michael Jordan—Nike, Hanes, Wheaties, etc. Ellen DeGeneres—American Express Can you name others?

Strategic Partnerships Strategic Partnerships : when two separate companies work together so that both benefit financially o Similar target markets Examples: o Apple and Nike o Pepsi and NFL o McDonalds and Disney

Special Guest Appearances Who’s seen a famous person (musician, celebrity, athlete) somewhere and remember the person and location? o The location becomes part of the experience Who would you suggest for the Grand Opening of Dicks Sporting Goods and Field & Stream at Market Place Mall?

Follow a Product Writing Assignment Choose a product that you are a fan of and write about it each week as it relates to an aspect of marketing. Assignment 1: Branding, Motives o Choose a product o Explain the Logo, Slogan (tagline), Mascot for brand (or product); o State the Buying Motives/Incentives to purchase products