1. Intro To Marketing…
What is Marketing?

2. Learning Goals Define important marketing concepts.
Identify the steps in a marketing strategy

3. S0……, what is marketing?

4. Marketing Defined: Marketing can be defined as:
a set of activities that gets products from
producers to consumers
Marketing begins with the first ideas of a product concept & carries through follow-up service after a sale
Marketing efforts and functions are taking place at nearly every stage in the life of a product or idea
Marketing is NOT just advertising or selling!

5. Major Marketing Activities:
Buying – you have to have something to re-sell for a profit, or at least the materials to make it. Part of marketing involves finding sellers (vendors) and negotiating sales of these materials
Selling – Direct, personal communication with prospective customers in order to assess needs and satisfy those needs.

6. Major Marketing Activities: (cont.)
Distribution– products have to be moved from the place they’re made to the place where consumers can buy them
Storing – products have to be held until customers buy them; this could be on shelves, in a warehouse, storage rooms, etc.

7. Major Marketing Activities: (cont.)
Financing – budgeting for marketing activities, obtaining financing, and providing financial assistance to customers
Researching – to make good marketing decisions, you have to know who you’re selling to…what they like, what they don’t like, where they shop, how much they spend, etc.

8. Major Marketing Activities: (cont.)
Pricing – using research to determine a profitable price and pricing strategy for your product
Evaluating – gathering follow-up info after sale, working to ensure customer satisfaction; working to find additional ways to add value to the product

9. Marketing Costs
ALL of the activities associated with marketing carry a monetary cost of some kind.
The cost of all of these activities is ultimately passed on the consumer
You will often see “generic” or lesser known brands of products that are much less expensive
This may not necessarily indicate lower quality
Could just mean less marketing:
Less marketing = lower marketing cost = lower cost to customer

10. More Marketing – Less Marketing
Quality is probably similar. In many cases, the same manufacturer contracts to produce both products

11. More Marketing – Less Marketing
The medicinal effects are the users are similar because the active ingredients are identical!

12. Let’s Brainstorm
Take five minutes to brainstorm with the person next you to come up with at least four examples of products with familiarity to you that have lower marketing costs compared to their better-known, brand-name equivalents/competitors. Write each of them down along with the marketing activities they limit that so we can discuss and compare.

13. The Marketing Concept
Is using the needs of customers as the primary focus during the planning, production, distribution, and promotion of a product or service.
Identify customers and understand them
Develop a product that works
Get the product into consumer’s hands
Compete at a profit

14. Scope of Marketing
Marketing efforts are not only directed to individual consumers. Marketing may be:
Business to Consumer
Business to Business
Non-profit organizations
Personal (one-to-one)
Governmental
Bottom line = The focus is always on the customer no matter who they are!

15. Checkpoint: Something’s Fishy
A company in Siesta Key, meets fishing boats when they dock. They buy fresh fish caught that day. Your job is to identify and apply the marketing activities based on today’s lesson that must be completed by the company to purchase the fish and then resell the fish to restaurants and supermarkets.
Work in three-person teams. This is worth 10 points, due today!