1. Chapter 8: Marketing The Role and Impact of Marketing
Marketing is all activities involved in getting goods and services from the businesses that produce them to the consumer.
Marketing has two fundamental roles: to sell what a business makes and to manage the brand. Marketing activities include
Branding
Businesses can spend millions creating an image for products and services with a brand name, logo or trademark, and a slogan.
research
development
sales
distribution
advertising
promotion
Marketing does not include the production of goods and services.

2. Chapter 8: Marketing The Role and Impact of Marketing
Brand Name
A brand name is a word or group of words a business uses to differentiate its products from that of the competition. Brand names should be distinctive, stand out, and memorable.
Logo or Trademark
A logo is a symbol that is associated with the company or product. It can take the following forms: monogram, visual symbol, or abstract symbol.
A trademark is a word, symbol, design, or a combination of all three that a business uses to differentiate its goods or services from others.
BRANDING
Brand Name
A brand name is how a product and company are identified and it is important to organizational success.
When people talk with others about brand preference this is free publicity for the company.
Logo or Trademark
A logo or trademark helps a product compete for consumer awareness.
Monogram: a stylized rendering of a company’s initials or a combination of initials and numbers.
Examples include IBM (International Business Machines) who wanted to consumers to associate them with computers not adding machines, and KFC (Kentucky Fried Chicken) who did not want consumers seeing the work “Fried”, etc.
Visual symbol: These are line drawings of people, animals, or things such as Apple Computer’s apple and Kellogg’s Frosted Flakes’ Tony the Tiger.
Abstract symbol: These are shapes that carry a visual message but are not representative of actual things.
The Nike “swoosh” is an example and one of the world’s most well recognized logos.

3. Chapter 8: Marketing The Role and Impact of Marketing
________________: a stylized rendering of a company’s initials or a combination of initials and numbers. KFC (Kentucky Fried Chicken) who did not want consumers seeing the work “Fried”, etc.
_______________ symbol: These are line drawings of people, animals, or things such as Apple Computer’s apple and Kellogg’s Frosted Flakes’ Tony the Tiger.
_____________ symbol: These are shapes that carry a visual message but are not representative of actual things. The Nike “swoosh” is an example and one of the world’s most well recognized logos.
Logo Activity

4. Chapter 8: Marketing The Role and Impact of Marketing
Slogan
A slogan is a short or catchy advertising phrase associated with a company or product.
Brand Identification
Everything associated with a product, such as the slogan, name, and logo, must be used consistently to ensure that the brand is always identifiable to the consumer.
The Product Life Cycle
Marketing efforts pay off in the form of consumer reaction to the brand. Successful marketing efforts increase brand equity or the value of the brand in the marketplace. The changes in popularity or sales volume of a product over time can be graphed on the product life cycle.
BRANDING
Slogan
Slogans are taglines for both print and broadcast advertisements.
Examples include; MasterCard’s “Priceless,” Canadian Blood Services’ “It’s in You to Give,” and Sprite’s “Obey Your Thirst”.
Brand Identification
The writing, the colours used, the design of the package should always be used in association with the product, this way it is always clear to the consumer that they are getting the product they desire.
THE PRODUCT LIFE CYCLE
Successful marketing efforts created brand awareness; customers can name you brand as part of a specific category.
Brand loyalty is when customers prefer your brand and support it.
Brand insistence is when customers will not accept a substitute for a particular brand.
Brands that have reached brand insistence have enormous equity.
Slogan Activity

5. Chapter 8: Marketing The Role and Impact of Marketing
THE PRODUCT LIFE CYCLE
Product Introduction: Is the launch of a product into the marketplace. It may be done locally, all the way to internationally. Businesses need to inform potential customers about the products features, availability, package design, and brand identification. Early adopters are individuals who like to be one of the first to try a new product. Marketers often focus their early efforts on these trendsetters who can be sports icons, celebrities, or even students.
Growth: As the new product sales increase competitors enter, this can decrease profitability due to decreased market share. They often compete by adding features, improving quality, or sell at a lower price;.
The product line becomes very visible and is promoted on commercials, billboards, print ads, etc.
Some competitors start to drop out of the competitive race at this stage.
Maturity: Growth is flat; it does not increase or decrease, and brand equity is at its highest.
Businesses keep advertising the product to keep it in the consumers’ eye.
Products, also know as cash cows, at this stage usually make large profits and this income can be used to develop and fund new products for the company. Examples include Tide and Kellogg’s Corn Flakes.
Decline: When sales decrease because customers leave to by other brands, and they are not replaced, a product can enter the decline stage.
Sometimes a change in price or advertising can slow down or stop the decline.
The Decision Point: The business may make an effort to regain original sales figures and brand equity or they may discontinue the product altogether. If they try to save the product a variety of options are available:
Repositioning: making the product popular with a new consumer group
Reformulate (new scent), repackage (new container and spout), and re-introduce (new and improved) the product.
Repricing to gain popularity.
New promotion.
Obsolete technology utilized in the product will make such that no amount of marketing efforts will restore product position.

6. Chapter 8: Marketing The Role and Impact of Marketing
Non-traditional Product Life Cycles
Fads
A fad is a product that is extremely popular with a select market for a short time, usually less than a year.
Seasonal
Some products are popular during a specific time or season.
Christmas and summer are seasonal time frames within which certain products are marketed.
Examples of products that I would find in current store flyers are: 
________________, _______________, _________________, ___________
NON-TRADITIONAL PRODCUT LIFE CYCLES
Fads
Trends are not fads, trends last longer and influences other areas.
Some well-known fads are hula hoops, yo-yos, Pogs, and Tamagotchis.
Businesses who plan well, and sell most of its stock and get out of the market just before the fad reaches its peak, can make an excellent profit.
Some companies market knock-offs of fads, often a cheaper version. If they do not sell off their inventories before the fad quickly dies off they can stand to lose money.
Niches
A niche product tends to have a short growth stage and leads to a solid, but not financially spectacular, maturity stage.
Niche marketers usually invent their products and hold exclusive patents or formulas.
By the time the competition can produce a competitive product the niche marketers have cornered that market.
Barriers to entry include the small market size, the cost of R&D, advertising expenses, factory and equipment costs, design costs, lack of distribution channels, and the cost of raw materials.
Seasonal
Christmas and summer are seasonal time frames within which certain products are marketed.
Inventory management is the balancing of product quantity with sales.