1. Applying the Terms
Marketing Basics

2. Marketing
Marketing is the process of developing, promoting, and distributing goods and services to meet customer wants and needs.

3. Goods v. Services Goods: tangible (can touch)
Example: pen, football, t-shirt
Services: intangible (cannot touch)
Example: dry cleaner, waiter, teacher

4. Target Market
Target Market: “focuses all marketing decisions on the specific group of people you want to reach”
EXAMPLE: The Target Market for the School Store is high school students, parents, and Falcon fans.

5. Used to describe Target Market
Market Segmentation
dividing the total market into smaller groups of people who share specific needs & characteristics
Demographics: “statistics that describe a population in terms of personal characteristics”
Age
Race
Gender
Income level
Used to describe Target Market

6. The Marketing Mix Product Place Price Promotion
The marketing mix: “The 4 P’s”
Product
Place
Price
Promotion

7. Marketing Mix Project Students divide into teams of 2-3 people
Design a new item for the BWHS school store (may use customink.com to complete design)
Apply the Marketing Mix to this new product
Create a PPT presentation to present to class

8. Marketing Concept
The marketing concept:“states that to make a profit a business must focus all efforts on satisfying the needs & wants of the customer”

9. The Marketing Functions
Marketing Functions: All activities that allow companies to bring products to the market for exchange
Pricing
Selling
Distributing
Promoting
Product/service management
Marketing information management

10. Pricing
Pricing: “means deciding how much to charge for goods & services”
EXAMPLE: a snickers bar is $1 in the School Store

11. Selling
Selling: “providing customers with goods & services they want to buy”
EXAMPLE: The Nike store sells Nike Air Pegasus shoes.

12. Distributing
Distributing: “involves making decisions about where to sell your product and method of transportation to use (i.e. train, plane, automobile)”
EXAMPLE: Surfboards arrive via plane from Hawaii and are sold on 17th street in VA Beach.

13. Promotion
Promoting: “any form of communication used to inform, persuade, or remind people about a business’s products”
Example:
Advertising (paid- commercials, Ads, etc)
Sales Promotion
Direct Mail
Internet and Social Media

14. Marketing Information Management
Marketing Information Management: “gathering market information about customers, trends and competing products”
Examples: customer surveys

15. Product/Service Management
Product/service management: “obtaining, developing, maintaining, and improving a product in response to market opportunities”
Product changes overtime to meet the need of customers
EXAMPLE: The iPod has changed over the last 7 years. It was originally bulky and only black/white; next a smaller/color version called the Nano; next a video iPod; next a smaller Nano; finally iPhone

16. Marketing Functions Activity
Students will work with a partner to complete the following activity:
Choose a product and research each of the functions of marketing for that product:
Pricing
Selling
Distributing
Promoting
Product/service management
Marketing information management